KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.37% at 1.2483.U.S. housing starts fell unexpectedly last month, official data showed on Tuesday. The Census Bureau reported earlier that the number of housing starts fell to 1.028 million units in November from 1.045 million in the precedingmonth, whose figure was revised up from 1.009 million. Analysts had expected the number of housing starts to rise to 1.030 million last month.Building permits took a similar turn for the worse. The Census Bureau reported that the number of building permits issued in November fell to 1.035 million from 1.080 million in the preceding month.Analysts were expecting the number of building permits issued to fall to 1.060 million last month.



INTRADAY OUTLOOK
Support: 1.2472
Resistance: 1.2528

RECOMMENDATION:
1. Buy EUR/USD Above 1.2530-TG:1.2550/1.2580 SL 1.2500
2. Sell EUR/USD Below 1.2470-TG:1.2450/1.2420 SL 1.2500

INTRADAY OUTLOOK
Immediate Support: 116.72
Immediate Resistance: 117.35

RECOMMENDATION:
1. Buy USD/JPY Above 117.37-TG:117.57/117.87 SL 117.07
2. Sell USD/JPY Below 116.70-TG:116.50/116.20 SL 117.00

Platinum Market Update

January platinum PLF5, +0.38% settled down 1.5% at $1,196.50 an ounce, while March palladium PAH5, -0.06% dropped by 2.3% to end at $784 an ounce. High-grade copper for March delivery HGH5, +0.14% fell 2 cents, or 0.7%, to settle at $2.86 a pound.


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Gasoline and Oil Market Update

 Gasoline for January delivery NGF15, +1.05% fell 3.5 cents, or 2.3%, to end at $1.54 a gallon on Nymex. That was gasoline’s lowest settlement since May 1, 2009.

January heating oil HOF5, -0.63%  lost 4.2 cents, or 2.1%, to finish at $1.9600 a gallon. January natural gas NGF15, +1.05%  fell 10 cents, or 2.7%, to end at $3.6190 per million British thermal units.

U.S. stocks wrap wild trading day sharply lower

The U.S. stock market suffered some of its most violent price swings since mid-October on Tuesday, as investors wrestled with volatility in oil and growing turmoil in Russia, exemplified by a spectacular decline of the ruble.

The S&P 500 SPX, -0.85%  ended at session lows, trading in a range of nearly 45 points. The benchmark index closed 16.89 points, or 0.9%, lower at 1,972.74. Energy-related stocks, which have been battered over the past several weeks, rose more than 1%, and industrials and telecoms also ended higher.

Forex Market Update

A surprise overnight policy-rate hike by the Central Bank of Russia did little to stanch the ruble’s steep losses against the dollar in Tuesday trading.
 The dollar USDJPY, +0.46%  traded at ¥116.58, from ¥117.73 late Monday in New York.

The euro EURJPY, +0.30% rose against the dollar after U.S. housing starts data for November missed the expectations of economists polled by MarketWatch, and a gauge of eurozone business activity improved modestly in December.

The shared currency EURUSD, -0.18%  was trading at $1.25, compared to $1.24 Monday.

The dollar gained against the krone USDNOK, +1.87% earlier in the session, only to surrender its gains and trade flat around 7.48 krone per dollar Tuesday afternoon.

The ICE U.S. Dollar Index DXY, +0.12%  , a measure of the greenback’s strength against a basket of six trade-weighted currencies, was down 0.64% to 87.8940.

The pound GBPUSD, -0.15%  climbed to $1.575, up from $1.56 on Monday, after data showed U.K. inflation fell to a 12-year low in November.