Gasoline Market Update

 Reformulated gasoline blendstock for March RBH5, +2.64% — the benchmark gasoline contract — rose 2.3% to $1.559 a gallon, ending 5.4% higher for the week. March heating oil HOH5, +2.31%  settled at $1.84, up 1.8% for the session to score a weekly gain of 8.1%.

Oil futures score 7.2% weekly gain

Crude-oil futures climbed on Friday to score a 7.2% gain for the week, finding support from an upbeat U.S. jobs report and a drop in the number of active drilling rigs.

Sweet crude futures for delivery in March CLH5, +3.68%  settled at $51.69 a barrel, up $1.21, or 2.4%, for the session.

Brent crude for March delivery LCOH5, +2.81%  on London’s ICE Futures exchange rose $1.23, or 2.2%, to $57.80 a barrel — 9.4% higher for the week.

Market Closing Update

MALAYSIAN shares ended higher on Friday with the Kuala Lumpur Composite Index adding 10.04 points to close at 1,813.25.

Some 1.92 billion lots, valued at RM2.15 billion were traded. Gainers numbered 512 while losers numbered 291.

Forex Market Update : Epic Research Malaysia

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.

KLSE IForex Recommendations

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