KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5076 during European morning trade, the session low; the pair subsequently consolidated at 1.5106, shedding 0.25%. In a report, the U.K. Office for National Statistics said that the rate of unemployment dipped to 5.8% in the three months to November from 6.0% in the previous three month-period and better than expectations for a reading of 5.9%.The report also showed that the claimant count fell by 29,700 last month, compared to expectations for a decline of 25,000 people. November’s figure was revised to a drop of 29,600 people from a previously reported decline of 26,900.Data also showed that the average earnings index rose 1.7% in the three months to November, meeting forecasts, after increasing by 1.4% in the three months to October. Excluding bonuses, wages rose by 1.8% in the three months to November, below expectations for a gain of 1.9% and following a 1.6% increase in the three months to October.

INTRADAY OUTLOOK
Support: 1.5081
Resistance: 1.5143

RECOMMENDATION:
1. Buy GBP/USD Above 1.5145-TG: 1.5165/1.5195 SL 1.5115
2. Sell GBP/USD Below 1.5078-TG: 1.5058/1.5028 SL 1.5108

INTRADAY OUTLOOK
Immediate Support: 1.1539
Immediate Resistance: 1.1591

RECOMMENDATION:
1. Buy EUR/USD Above -1.1593 TG: 1.1613/1.1643 SL 1.1563
2. Sell EUR/USD Below -1.1536 TG:1.1516/1.1486 SL 1.1566

KLSE Stock Recommendations

MARKET UPDATES :

Bursa Malaysia closed higher today, supported by gains in small-capitalised counters as well as plantation andindustrial-related shares, a dealer said. As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,770.09, up 19.98 points after moving between 1,751.46 and 1,770.09 throughout the day. PPB Group, Petronas Chemicals and Sime Darby were the top contributors to the composite index, adding RM1.20, 17 sen and 21 sen, to RM15.20, RM5.11 and RM9.50 respectively.

STOCK RECOMMENDATION :

BUY JOBSTREET ABOVE 0.410 TARGET 0.435 0.485 SL 0.360

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

 Gold prices dipped in Asia on Thursday with investors focused on an upcoming European Central Bank meeting expected to further ease policy.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.22% to 1.290.80 a troy ounce in Asia.Overnight, gold remained above the $1,300-level on Wednesday, after data showed that the number of building permits issues in the U.S. fell unexpectedly in December, while housing starts topped forecasts, painting a mixed picture of the U.S. housing sector.




TRADING STRATEGY :
BUY GOLD ABOVE 1297 TARGET 1302 1308 SL 1291
SELL GOLD BELOW 1284 TARGET 1279 1273 SL 1290

Forex Market Update

The euro is seeing wild swings in Wednesday trading following reports that the European Central Bank’s executive board has developed a proposal calling for roughly €50 billion a month in sovereign-bond purchases.

The euro EURUSD, -0.16%   recorded a session high of $1.1680, essentially erasing four sessions’ worth of losses after the report was published, before moving lower to around $1.1591, slightly above its Tuesday afternoon level of $1.1547.

 the ICE U.S. Dollar Index DXY, +0.19%  , a measure of the dollar’s strength against a trade-weighted basket of six currencies, fell 0.12% to 92.9200, dragged lower by a slightly stronger euro.

The pound traded at GBPUSD, -0.06%  $1.5133 and GBPEUR, +0.09%   €1.3055, compared to $1.1547 and €1.3112 Tuesday.

The dollar USDJPY, +0.18%   traded at ¥117.8320, compared to ¥118.6430 Tuesday afternoon.

The yen EURJPY, +0.06%  also traded higher against the euro, with the shared currency changing hands at ¥136.6200, compared to ¥137.0000 Tuesday.

Platinum Market Update

 Platinum for April delivery PLJ5, -0.09% fell $10.20 to $1,276.40 an ounce, while palladium for March delivery PAH5, +0.27%  dropped $10.50 to $768.25 an ounce.