KLSE IForex Recommendations

TRADING TIPS :
GBP/USD hit 1.4839 during European morning trade, the pair’s lowest since Friday; the pair subsequently consolidated at 1.4867, retreating 0.57%.Cable was likely to find support at 1.4720, Friday’s low and resistance at 1.5012, the high of March 19.The pound dropped against the U.S. dollar on Monday, as the greenback regained some ground after declining sharply last week on the back of fresh uncertainty over the timing of a U.S. rate hike, while markets eyed upcoming U.K. data on industrial orders expectations.The dollar remained under pressure amid uncertainty over the path of U.S. monetary policy after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections last week.




INTRADAY OUTLOOK
Support: 1.4930
Resistance: 1.4990

RECOMMENDATION:
1. Buy GBP/USD Above 1.4992-TG: 1.5012/1.5042 SL 1.4962
2. Sell GBP/USD Below 1.4928-TG: 1.4908/1.4878 SL 1.4958

INTRADAY OUTLOOK
Support: 1.0780
Resistance: 1.0860

RECOMMENDATION:
1. Buy EUR/USD Above 1.0862-TG: 1.0882/1.0912 SL 1.0832

2. Sell EUR/USD Below 1.0778-TG: 1.0758/1.0728 SL 1.0808
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KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index lost 5.48 points or 0.30% on Friday. The Finance Index fell 0.40% to 15968.45 points, the Properties Index up 0.00% to 1303.7 points and the Plantation Index down 0.11% to 7802.05 points. The market traded within a range of 8.16 points between an intra-day high of 1806.90 and a low of 1798.74 during the session.



STOCK RECOMMENDATION :
BUY KESM INDUSTRIES AT 2.790 – 2.800 TARGET 2.850 2.950 SL 2.720

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices were marginally higher in early Asia on Tuesday ahead of the initial HSBC (LONDON:HSBA) manufacturing gauge for March that will also put copper into focus. In China, the March flash reading of the HSBC PMI will be released at 09:45 Beijing time (0145 GMT) and is expected at 50.6, a slight downtick from 50.7 in February. On the Comex division of the New York Mercantile Exchange gold futures for April delivery fell 0.10% to $1,189.100 a troy ounce.Overnight, gold futures edged up on Monday reaching two-week highs, amid modest gains from the euro against the U.S. Dollar. Gold prices have rallied since the middle of last week following relatively dovish comments from Federal Reserve chair Janet Yellen halted the dollar’s steep appreciation against the euro. Despite offering indications that the Fed will likely increase interest rates at some point this year, Yellen said the Fed will take a “data driven” approach on the timing of its first interest rate hike since 2009.



TRADING STRATEGY :

BUY GOLD ABOVE 1192 TARGET 1197 1203 SL 1186
SELL GOLD BELOW 1185 TARGET 1180 1174 SL 1191

Dollar weakens further against rivals on rate-hike bets

The dollar traded lower against its rivals Monday after recording its largest weekly percentage decline against the euro since October 2011.

The euro EURUSD, -0.21%  traded at $1.0945, its highest end-of-session level against the buck in three weeks, compared with $1.0821 Friday evening.

The dollar USDJPY, -0.02%  traded at 119.72 yen, its lowest level against the Japanese currency in nearly a month. It traded at 120.04 Friday.

The ICE U.S. Dollar Index DXY, +0.23% a measure of the buck’s strength against a basket of six rival currencies, was about 1% to 97.0000.

Platinum Market Update

April platinum PLJ5, -0.24%  settled up $3.30, or 0.3%, at $1,144.50 an ounce, while June palladium PAM5, +0.23%  fell $8.40, or 1.1%, to $770.70 an ounce.

May copper HGK5, +0.02%  tacked on 2.85 cents, or 1%, to $2.7895 a pound.