KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.4990 during European morning trade, the pair’s lowest since January 30; the pair subsequently consolidated at 1.5018, slipping 0.17%.U.K. construction purchasing managers’ index increased to 59.1 last month from a reading of 57.6 in December. Economists had expected the index to dip to 57.0 in January.The data came a day after Markit said that its U.K. manufacturing PMI rose to 53.0 last month from a reading of 52.5 in December. However, commenting on the report, Rob Dobson, senior economist at survey compiler Markit, said that “at this rate, the sector will provide little meaningful boost to the economy in the first quarter. “Meanwhile, sentiment on the dollar remained vulnerable after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December, dropping 0.3% as households saved on cheaper gasoline prices.

INTRADAY OUTLOOK
Support: 1.5037
Resistance: 1.5127

RECOMMENDATION:
1. Buy GBP/USD Above 1.5129-TG: 1.5149/1.5179 SL 1.5099
2. Sell GBP/USD Below 1.5035-TG: 1.5015/1.4985 SL 1.5065

INTRADAY OUTLOOK
Immediate Support: 1.1292
Immediate Resistance: 1.1382

RECOMMENDATION:
1. Buy EUR/USD Above -1.1384 TG: 1.1404/1.1434 SL 1.1354
2. Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320

KLSE Stock Recommendations

MARKET UPDATES :

Bank Negara Malaysia (BNM) is likely to maintain its overnight policy rate (OPR) at 3.25 per cent into 2016, said Standard & Poor’s (S&P) Ratings Services. In a statement today, the rating agency also revised Malaysia’s gross domestic product (GDP) growth forecast to 4.6 per cent in 2015 and 5.0 per cent in 2016, from an earlier estimate of 5.5 per cent and 5.4 per cent, respectively.The revision was made in light of an anticipated further decline in oil prices since its last forecasting exercise, said S&P.



STOCK RECOMMENDATION :

BUY CREST BUILDER ABOVE 1.205 TARGET 1.250 1.320 SL 1.155

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices gained in Asia on Wednesday as investors focused on Chinese New Year demand and continued a buying trend seen overnight in the U.S. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.13% to trade at $1,261.90 a troy ounce. Overnight, gold edged higher on Tuesday, as market players looked ahead to the release of key U.S. data later in the week for further indications on the strength of the economy and the future path of monetary policy. Optimism over the health of the U.S. economy weakened after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December. Separate reports showed that U.S. construction spending rose less than expected in December, while manufacturing growth slowed. The disappointing numbers came after data last week that showed the U.S. economy grew by a weaker than-expected 2.6% in the fourth quarter, slowing sharply from growth of 5.0% in the preceding quarter.

TRADING STRATEGY :

BUY GOLD ABOVE 1268 TARGET 1273 1279 SL 1262
SELL GOLD BELOW 1255 TARGET 1250 1244 SL 1261

Forex Market Update

The U.S. dollar slumped versus major rivals Tuesday, as worries about Greece’s debt woes eased.

The ICE dollar index DXY, -0.04% a measure of the U.S. unit against a basket of six major rivals,  fell 0.9% to 93.685.

The euro EURUSD, -0.05%  rose to $1.1468, up from $1.1341 on Monday, on signs the standoff between the new Greek government and its creditors could soon come to an end.

the pound GBPUSD, +0.01%  climbed to $1.5151, up from $1.5039 on Monday.

Natural gas Market Update

Natural gas for March delivery NGH15, +0.47%  rose 2 cents, or 0.6%, to $2.77 per million British thermal units, building on a 7-cent gain the day before.