KLSE IForex Recommendations

TRADING TIPS :

 GBP/USD hit 1.5150 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.5134, gaining 0.30%.In a report, the U.K. Office for National Statistics said that manu- facturing production rose 0.7% in November, beating expectations for a 0.3% gain, after a 0.7% fall the previous month.On the other hand, U.K. industrial production ticked down 0.1% in November, data showed on Friday, confounding expectations for an increase of 0.2%. October’s figure was revised to a 0.3% slip from a previously estimated 0.1% fall.A separate report showed that the U.K. trade deficit narrowed to £8.85 billion in November from £9.84 billon in October, whose figure was revised from a previously estimated deficit of £9.62 billion. Analysts had expected the trade deficit to narrow to £9.40 billion in November.

INTRADAY OUTLOOK
Support: 1.5111
Resistance: 1.5185

RECOMMENDATION:
1. Buy GBP/USD Above 1.5187-TG: 1.5207/1.5237 SL 1.5157
2. Sell GBP/USD Below 1.5109-TG: 1.5089/1.5059 SL 1.5139

INTRADAY OUTLOOK
Immediate Support: 1.1805
Immediate Resistance: 1.1866

RECOMMENDATION:
1. Buy EUR/USD Above -1.1868 TG: 1.1888/1.1918 SL 1.1838
2. Sell EUR/USD Below -1.1802 TG:1.1782/1.1752 SL 1.1832

Palladium Market Update

Palladium for March delivery PAH5, +0.15% rose $1.70 to $801.85 an ounce, while April platinum PLJ5, +0.28%  gained $3.60 to $1,233.70 an ounce.

High-grade copper for March delivery HGH5, -0.18%  held steady at $2.75 a pound.

Gold prices build on last week’s momentum

Gold prices rallied on Monday, adding on to last week’s 2.5% advance as the volatility that has gripped the stock markets showed no sign of calming.

By midday in East Asia, gold for February delivery GCG5, +0.82%  was higher by $10.60, or 0.9%, at $1,226.70 an ounce, while March silver SIH5, +1.01% climbed 16 cents, or 1%, to $16.58 an ounce

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) closed for holiday 

 Hong Kong (Hang Seng Index) up 0.1% (at break) 

 Shanghai (Shanghai Composite Index) down 2.1% (at break) 

 Sydney (S&P/ASX 200) down 0.8% 

 Seoul (Kospi) down 0.3% 

 Mumbai (Sensex) down 0.1% 

 Taipei (Taiex) down 0.2%

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.78 points to 1,729.66.

Volume was 23.69 million lots worth RM8.90 million.

Losers outnumbered gainers 78 to 71.