KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

 Crude oil prices dipped in Asia on Friday in a light data day with U.S. dollar strength weighing. On the New York Mercantile Exchange, April deliveries for WTI Crude fell 0.22% to $46.95 a barrel as prices for Texas light sweet continued on a downward path for the week. Overnight, domestic oil futures fell sharply on Thursday afternoon amid an unexpected decline in U.S. retail sales, reversing previous gains in morning trading. On the Intercontinental Exchange (ICE), Brent crude oil for April delivery fell 0.42% to $57.47 a barrel on Thursday, offsetting Wednesday’s gains. Trading for the international benchmark was as equally volatile, ranging from a low of $56.75 to $59.15 on Thursday.



TRADING STRATEGY :

BUY GOLD ABOVE 1162 TARGET 1167 1173 SL 1156
SELL GOLD BELOW 1155 TARGET 1150 1144 SL 1161

U.S. stocks post biggest gain in 5 weeks

U.S. stocks recorded the biggest gain in more than a month as expectations for a rate hike were pushed back following disappointing data on retail sales.

The S&P 500 SPX, +1.26%  closed 25.71 points, or 1.3%, higher at 2,065.95, with nine of its 10 main sectors finishing with gains. Financials led the way, with the sector gaining 2.2%.

Dollar up against yen ahead of FOMC meeting

The dollar was slightly higher against the yen Friday, with investors avoiding taking lopsided positions ahead of the weekend and next week’s Federal Open Market Committee.

The dollar USDJPY, +0.10%  was at ¥121.47, compared with ¥121.26 late Thursday in New York.

The euro EURUSD, -0.18%  , tumbled to fresh 12-year low during Asian time Thursday. It last traded at $1.0584 from $1.0634.

The euro EURJPY, -0.10%  was down to ¥128.85 from ¥128.91, while the Aussie AUDJPY, -0.18%  fell to ¥93.24 from ¥93.48.

The WSJ Dollar Index BUXX, +0.17%  , a measure of the dollar against a basket of major currencies, was up 0.29% at 88.87.

Gas Market Update

April natural gas NGJ15, -1.54%  settled at $2.734 per million British thermal units, down 9 cents, or 3.2%.

Gasoline Market Update

April gasoline RBJ5, -0.69% fell 1.7 cents, or 0.9%, to $1.81 a gallon, while April heating oil HOJ5, -0.24%  settled at $1.779 a gallon, down 4.1 cents, or 2.3%.