skip to main |
skip to sidebar
The dollar was slightly lower against the yen early Friday, with investors sitting on sidelines ahead of closely monitored U.S. jobs data for January later in the day.
The dollar USDJPY, -0.21% was down to ¥117.30 compared with ¥117.54 late Thursday in New York.
The euro EURUSD, -0.17% was at $1.1469 from $1.1485 and at EURJPY, -0.39% ¥134.50 from ¥134.98.
The WSJ Dollar Index BUXX, -0.06% a measure of the dollar against a basket of major currencies, was down 0.04% at 84.92.
TRADING TIPS :
GBP/USD up 0.43% to 1.5245.Industry data earlier showed that U.K. house price inflation rose 2.0% in January, beating expectations for a 0.1% uptick. December’s figure was revised to a 1.1% increase from a previously estimated 0.9% gain.House prices in January were 8.5% higher than the same month a year earlier, above forecasts for a 7.8% gain and after an increase of 7.8% in December. The report came a day after data showed that the Markit/CIPS Services PMI increased to 57.2 last month from a reading of 55.8 in December. Expected index to rise to 56.3 in January. Later Thursday, the BoE was expected to leave interest rates on hold at 0.50% and its asset purchase facility program at £375 billion.
INTRADAY OUTLOOK
Support: 1.5192
Resistance: 1.5272
RECOMMENDATION:
1. Buy GBP/USD Above 1.5274-TG: 1.5294/1.5324 SL 1.5244
2. Sell GBP/USD Below 1.5190-TG: 1.5170/1.5140 SL 1.5220
INTRADAY OUTLOOK
Immediate Support: 1.1362
Immediate Resistance: 1.1467
RECOMMENDATION:
1. Buy EUR/USD Above -1.1469 TG: 1.1489/1.1519 SL 1.1439
2. Sell EUR/USD Below -1.1360 TG:1.1340/1.1310 SL 1.1390
MARKET UPDATES :
MALAYSIAN shares closed higher on Thursday with the Kuala Lumpur Composite Index gaining 0.19 points to 1,803.21. Some 1.6 billion lots, valued at RM2.1 billion were traded. Losers outnumbered gainers 433 to 344.
STOCK RECOMMENDATION :
BUY CHIN WELL HLDNG ABOVE 1.550 TARGET 1.590 1.640 SL 1.500
INTERNATIONAL COMMODITY NEWS :
Crude oil prices carried gains into Asia on Friday with U.S. jobs data in focus as well as the latest developments as Greece tries to reach new terms with reluctant creditors.Traders now looked ahead to the release of the latest U.S. nonfarm payrolls report on Friday, for further indications on the strength of the recovery in the labor market.Market analysts expect the data to show that the U.S. economy added 234,000 jobs in January, slowing from a gain of 252,000 in December, while the unemployment rate was forecast to hold steady at 5.6%. On the New York Mercantile Exchange, crude oil for delivery in March rose 1.39% to $51.39 a barrel. Overnight, crude oil futures rallied sharply on Thursday, one day after plunging almost 9%, as investors returned to the market to seek cheap valuations.
TRADING STRATEGY :
BUY GOLD ABOVE 1268.25 TARGET 1273.25 1279.25 SL 1262.25
SELL GOLD BELOW 1261.5 TARGET 1256.5 1250.5 SL 1267.5
U.S. stocks recorded solid gains on Thursday, buoyed by a rebound in oil prices, deal news and upbeat quarterly earnings, pushing the S&P 500 and Dow industrials into positive territory for the year.
The S&P 500 SPX, +1.03% closed 21 points, or 1%, higher at 2,062.50, with broad-based gains across all 10 main sectors. Some analysts pointed out that Friday’s move on the index will prove important, if it breaks through a key January resistance level of 2,064.
