KLSE IForex Recommendations

TRADING TIPS :

EUR/USD held steady, near two-year lows at 1.2236.Earlier Tuesday, official data showed that French consumer spending rose 0.4% in November, beating expectations for a 0.3% gain. French consumer spending fell 0.8% in October, whose figure was revised from a previously estimated 0.9% decline.Another report showed that France’s economy grew by 0.3% in the third quarter, in line with expectations and unchanged from the previous quarter’s growth rate.The dollar remained broadly supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance. The central bank also acknowledged the improvement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment.




INTRADAY OUTLOOK
Support: 1.2208
Resistance: 1.2263

RECOMMENDATION:
1. Buy EUR/USD Above 1.2265-TG:1.2285/1.2315 SL 1.2235
2. Sell EUR/USD Below 1.2205-TG:1.2185/1.2155 SL 1.2235

INTRADAY OUTLOOK
Immediate Support: 1.5531
Immediate Resistance: 1.5592

RECOMMENDATION:
1. Buy GBP/USD Above 1.5595-TG:1.5615/1.5645 SL 1.5565
2. Sell GBP/USD Below 1.5528-TG:1.5508/1.5478 SL 1.5558

KLSE Stock Recommendations

MARKET UPDATES :

The secondary property market in the country has good potential as the prices of the houses could be 30-40 per cent lower than the new ones, said the Malaysia Institute of Estate Agents (MIEA).Its president, Siva Shanker, said many people were unaware of the hidden ‘gems’ in the secondary property market.The buyers should should explore them instead of complaining and whining about the escalating prices of new houses  he said.“The data have proven that property prices in the secondary market are very much similar to those in the primary market and if comparisons are made in terms of location and size, they are much cheaper and affordable.



STOCK RECOMMENDATION :

BUY STATS CHIPPAC ABOVE 0.470 TARGET 0.500 0.550 SL 0.430

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices pulled away from a three-week low on Tuesday, but still remained below the $1,200 threshold as the strong U.S. dollar continued to weigh on the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.23% to $1,182.50.The February contract ended Monday’s session 1.35% lower at $1,179.80 an ounce.The dollar remained supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.Higher U.S. interest rates would boost the greenback and weigh on gold, which has benefited from central bank liquidity and a low interest rate environment since the 2008 financial crisis.

TRADING STRATEGY :

BUY GOLD ABOVE 1180 TARGET 1185 1191 SL 1174
SELL GOLD BELOW 1172 TARGET 1167 1161 SL 1178

More records for U.S. stocks as Dow tops 18,000 for first time

The Dow industrials closed above 18,000 for the first time ever and the S&P 500 notched up its 51st record close of the year, underscoring confidence in the strength of the U.S. economy.

The S&P 500 index SPX, +0.17%   set an intraday record of 2,086.75 and closed up 3.6 points, or 0.2%, at 2,082.17. Energy and materials stocks led the gains, while the health-care sector closed with a 2.2% loss.

Dollar jumps after stellar U.S. GDP data

The dollar moved sharply higher against most major currencies on Tuesday after data showed the U.S. economy fared much better than previously expected in the third quarter.

The WSJ Dollar Index BUXX, -0.11%  jumped 0.41% to 82.90, after trading with a loss earlier in the day. The ICE dollar index DXY, -0.05%  climbed 0.32% to 90.06. Against the yen USDJPY, -0.28% the dollar rose to ¥120.76, up from ¥120.04 late Monday.

The euro EURUSD, +0.06%  traded at $1.2175, down from $1.2232 late Monday.

The ruble USDRUB, -0.26%  improved to trade around 54.64 to the dollar, compared with 55.4182 late on Monday.

The pound GBPUSD, +0.01%  exchanged hands at $1.5509, down from $1.5592 on Monday, after a data revision indicated the U.K. economy is not growing as fast as thought