KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.25% at 1.2472, up from a session low of 1.2403 and off a high of 1.2486. The pair was likely to find support at 1.2372, Monday’s low, and resistance at 1.2600, last Wednesday’s high.The euro firmed against the dollar on Tuesday after a poor U.S. consumer confidence report offset upbeat economic growth data and sent investors selling the greenback for profits.The Conference Board market research group reported earlier that consumer confidence index fell to 88.7 this month from a 94.1 in October, whose figure was revised down from a previously reported 94.5. The dollar has rallied in recent weeks on expectations for U.S. monetary policy to grow less accommodative while European and Asian central banks move in the opposite direction.


INTRADAY OUTLOOK
Support: 1.2440
Resistance: 1.2505

RECOMMENDATION:
1. Buy EUR/USD Above 1.2507-TG:1.2527/1.2557 SL 1.2477
2. Sell EUR/USD Below 1.2438-TG:1.2418/1.2388 SL 1.2468

INTRADAY OUTLOOK
Immediate Support: 117.64
Immediate Resistance: 118.11

RECOMMENDATION:
1. Buy USD/JPY Above 118.13-TG:118.33/118.63 SL 117.83
2. Sell USD/JPY Below 117.62-TG:117.42/117.12 SL 117.92

KLSE Stock Recommendations

MARKET UPDATES :

Malaysia’s budget deficit could fall below 3 percent of gross domestic product in 2015, the International Monetary Fund said on Monday after it concluded a mission to the Southeast Asian nation. Malaysia narrowed the fiscal deficit to 3.9 percent of GDP in 2013, and Prime Minister Najib Razak wants to further trim the gap to 3.5 percent this year and 3 percent in 2015, heading toward a balanced budget by 2020.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 3.270 TGT 3.310 ,3.370 SL 3.210

S&P Market News Update

True to seasonal form, November has been a strong month for the U.S. markets.

The S&P 500 and the Dow industrials have taken flight, reaching uncharted territory, while the small- and mid-cap benchmarks have come to life technically.

Before detailing the U.S. markets’ wider view, the S&P 500’s hourly chart highlights the past two weeks.

As illustrated, the S&P has extended its uptrend, rising to another all-time high.

From current levels, first support holds at the breakout point — S&P 2,056 — and is followed by a deeper floor at 2,040.

Dollar weakens against rivals after consumer-confidence data

Surprisingly weak consumer confidence data pushed the dollar lower against the yen, euro and pound Tuesday as investors worried that consumers might be tamping down spending ahead of the holiday shopping season.

The ICE Dollar Index DXY, +0.04%  , a measure of the greenback’s strength against a basket of six rival currencies, was down 0.30% to 87.8940, trading below the 88.0000 level for the first time since Friday.

The euro EURUSD, -0.03% traded at $1.2473, compared to $1.2430 late Monday. The shared currency is the most heavily-weighted component of the dollar index.

Elsewhere, the dollar USDJPY, -0.13%   traded at 117.99 yen, surrendering its gains from Monday’s session and returning to its Friday level. It traded at ¥118.29 Monday afternoon.

Silver and Platinum Market Update

December silver SIZ4, +0.13%  settled higher by 17 cents, or 1%, at $16.55 an ounce.

Platinum PLF5, -0.28%   was down $19.80, or 1.61%, to $1,208 and Palladium PAH5, -0.26%  was off about 0.6% , or $4.80, to trade at $789.75.