Forex Market Update : Epic Research Malaysia

The dollar inched higher against the euro and pound Wednesday afternoon after the Federal Reserve’s policy statement included no clear guidance about its rate-hike plans.

The dollar USDJPY, +0.31%  was at ¥117.43, compared with ¥117.80 Tuesday. The euro EURUSD, -0.14%  traded at $1.1289, compared with $1.1362 Tuesday. The pound USDGBP, +0.01%  traded at $1.5169, compared with $1.5185.

The Russian ruble RUBUSD, -0.38%  declined to 67.84 rubles per dollar, compared to 67.75 Tuesday.

After the news, the Singapore dollar USDSGD, +0.07%   fell 1.4% to 1.36 per U.S. dollar, its lowest level in more than four years. It traded at 1.34 to the dollar Tuesday.

Gasoline Market Update : Epic Research Malaysia

Elsewhere in energy trading, gasoline for February delivery RBG5, +0.67%  turned lower, off half a penny, or 0.4%, to finish at $1.3450 a gallon on Nymex. February heating oil HOG5, -0.10%  fell 3 cents, or 1.9%, to end at $1.6318 a gallon on Nymex.

February natural gas NGG15, -3.66%  retreated 11.5 cents, or 3.9%, to end at $2.8660 per million British thermal units. That was natural gas’s largest one-day drop in a week.

IForex Recommendations : Epic Research Malaysia

TRADING TIPS :
GBP/USD pulled away from 1.5117, the session high, to hold steady at 1.5075 during European morning trade.In a report, the Office for National Statistics said U.K. gross domestic product expanded by 0.5% in the final three months of 2014, below forecasts for growth of 0.6%. The U.K.’s economy grew by 0.7% in the previous quarter.Year-over-year, U.K. economic growth grew 2.7% in the three months ending December, missing expectations for a gain of 2.8%. The U.K. economy expanded at an annualized rate of 2.6% in the third quarter of 2014.A separate report showed that U.K. mortgage approvals decreased to a 20-month low of 35,700 last month from November’s total of 36,700. Analysts had expected the number of new mortgages approved to decline to 36,600 in December.





INTRADAY OUTLOOK
Support: 1.5058
Resistance: 1.5131


RECOMMENDATION:
1. Buy GBP/USD Above 1.5133-TG: 1.5153/1.5183 SL 1.5103
2. Sell GBP/USD Below 1.5055-TG: 1.5035/1.5005 SL 1.5085


INTRADAY OUTLOOK
Immediate Support: 1.1215
Immediate Resistance: 1.1293


RECOMMENDATION:
1. Buy EUR/USD Above -1.1295 TG: 1.1315/1.1345 SL 1.1265



2. Sell EUR/USD Below -1.1213 TG:1.1193/1.1163 SL 1.1243

Comex Recommendations : Epic Research Malaysia

INTERNATIONAL COMMODITY NEWS :
Gold prices eased on Wednesday with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% to trade at $1,292.30 a troy ounce.Overnight, gold erased losses to hit the highest levels of the session on Tuesday, after data showed that U.S. durable goods orders fell unexpectedly in December, fuelling concerns over the strength of the economy. In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, fell by 3.4% last month, compared to expectations for a gain of 0.5%.Core durable goods orders, excluding volatile transportation items, declined by 0.8% in December, disappointing forecasts for a 0.6% gain.





TRADING STRATEGY :
BUY GOLD ABOVE 1298 TARGET 1303 1309 SL 1292
SELL GOLD BELOW 1283 TARGET 1278 1272 SL 1289

Forex Market Update :Epic Research Malaysia

The U.S. dollar weakened against its main rivals Tuesday after the Commerce Department said durable-goods orders were surprisingly weak in December.

The euro EURUSD, -0.36% climbed to $1.1351, from $1.1239 late Monday.

The dollar traded at USDJPY, +0.23% to ¥117.81, compared with ¥118.48 late Monday in New York.

The franc fell to its lowest level since the SNB ditched the trading cap. The euro EURCHF, -0.07% traded as high as 1.0381 francs, from 1.0150 earlier in European trading. The shared currency was worth 1.0258 francs in recent trade. The dollar USDCHF, +0.28% rose to 0.9042 francs, up from 0.9030 late Monday.

In other currencies, the pound GBPUSD, -0.24% rose to $1.5192 after the durable-goods orders data.

The ICE U.S. Dollar Index, DXY, +0.24% a measure of the dollar’s value against a basket of six trade-weighted currencies, was down 0.76% to 94.0860.