skip to main |
skip to sidebar
MARKET UPDATES :
The Trans Pacific Partnership can and must be a done deal in 2015 as it provides the best “political opportunity” for the United States. Marc Mealy, who is vice president (policy) in the US-Asean Business Council, described the deadline for next year requires precision clocking to enable a rational legislative approach to see the 21st century trade deal come through.
STOCK RECOMMENDATION :
SELL FELDA GLOBAL VENTURES BELOW 2.96 TARGET 2.92 2.87 SL 3.01
TRADING TIPS :
EUR/USD hit lows of 1.2279, the weakest level since August 16, 2012.Data released on Monday showed that Japan’s third quarter economic contraction was deeper than initially estimated.Revised data showed that Japan’s gross domestic product contracted by an annualized 1.9%, more than the preliminary estimate of a 1.6% decline. On a quarter-over-quarter basis the economy contracted by 0.5% in the three months to September, compared to a preliminary estimate of a 0.4% contraction.A separate report showed that Chinese exports rose just 4.7% in November from a year earlier, less than the expected 7.9% increase, while imports fell 6.7% on a year-over-year basis. The weak data added to concerns over a slowdown in the world’s second-largest economy.In the euro zone, data showed that German industrial production rose just 0.2% in October,
INTRADAY OUTLOOK
Support: 1.2238
Resistance: 1.2302
RECOMMENDATION:
1. Buy EUR/USD Above 1.2304-TG:1.2324/1.2354 SL 1.2274
2. Sell EUR/USD Below 1.2235-TG:1.2215/1.2185 SL 1.2265
INTRADAY OUTLOOK
Immediate Support: 120.67
Immediate Resistance: 121.28
RECOMMENDATION:
1. Buy USD/JPY Above 121.30-TG:121.50/121.80 SL 121.00
2. Sell USD/JPY Below 120.65-TG:120.45/120.15 SL 120.95
INTERNATIONAL COMMODITY NEWS :
Gold ticked higher in early Asia on Tuesday as the dollar eased against the yen.Overnight, gold prices edged higher on Monday, amid expectations central banks in China, Japan and Europe will have to implement more stimulus to boost growth.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,203.80 a troy ounce, up 0.08%. Expectations for further stimulus mounted after data released earlier showed that China’s trade activity was weaker than expected in November, while Japan’s economy shrank more than initially reported in third quarter.
TRADING STRATEGY :
BUY GOLD ABOVE 1203.75 TARGET 1208.75 1214.75 SL 1197.75
SELL GOLD BELOW 1199 TARGET 1194 1188 SL 1205
The dollar gained against the ruble Monday after falling during Friday’s session as crude oil prices again fell to five-year lows.
The dollar USDRUB, -0.03% traded at 53.6764 Monday, up from 52.68, its level from Friday afternoon.
The dollar JPYUSD, +0.38% depreciated to 120.5160 yen, its largest single-session drop since Oct. 15. It traded around ¥120.27 Friday.
The euro EURUSD, +0.01% traded at $1.2328 Monday, compared to $1.2300 Friday.
The ICE U.S. Dollar Index DXY, -0.02% , a measure of the greenback’s strength against a basket of six rival currencies, was down 0.26% to 89.1060, its first loss in two sessions.
January platinum PLF5, -0.12% added $9.90, or 0.8%, to $1,229.40 an ounce, while March palladium PAH5, +0.26% fell $4.90 to $797.80 an ounce.
High-grade copper for March delivery HGH5, -0.31% slid two cents to $2.89 a pound.
