KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was down 0.49% to 1.2281, closing in on the two year low of 1.2246 struck on December 8. The dollar rallied after the Fed said it would be “patient” before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low “for a considerable time.”The central bank acknowledged the improvement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment.At the bank’s post policy meeting press conference Fed Chair Janet Yellen said the Fed was unlikely to raise rates for the “next couple of meetings” indicating that a move in April at the earliest is possible.



INTRADAY OUTLOOK
Support: 1.2280
Resistance: 1.2351

RECOMMENDATION:
1. Buy EUR/USD Above 1.2353-TG:1.2373/1.2403 SL 1.2323
2. Sell EUR/USD Below 1.2278-TG:1.2258/1.2228 SL 1.2308

INTRADAY OUTLOOK
Immediate Support: 1.5615
Immediate Resistance: 1.5677

RECOMMENDATION:
1. Buy GBP/USD Above 1.5680-TG:1.5700/1.5730 SL 1.5650
2. Sell GBP/USD Below 1.5612-TG:1.5592/1.5562 SL 1.5642

KLSE Stock Recommendations

MARKET UPDATES :

Amanah Saham Bumiputera (ASB) unitholders will receive 7.50 sen dividend per unit for the financial year ending Dec 31, 2014 compared with 7.70 sen declared last year.The wholly-owned subsidiary of Permodalan Nasional Bhd (PNB) also announced that 8.60 million unitholders would also receive a bonus of 1.00 sen per unit.PNB Chairman Tun Ahmad Sarji Abdul Hamid said the unitholders collectively held 137.07 billion ASB units.



STOCK RECOMMENDATION :
BUY ASTR MALAYSIA ABOVE 2.940 TARGET 2.980 3.060 SL 2.890

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices rose in early Asian trade on Friday as markets head into year-end holidays and light data flows.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,196.50 a troy ounce, up 0.14%, after hitting an overnight session low of $1,187.10 and off a high of $1,213.80.Overnight, gold futures came off earlier highs but held steady on Thursday after the Federal Reserve will exercise patience raising interest rates.Gold prices have tumbled in recent months as markets prep for the Fed to raise interest rates, which is widely seen taking place in 2015, as higher borrowing costs chip away at the precious metal’s appeal as a hedge to weaker paper currencies, the product of loose monetary policy.


TRADING STRATEGY :

SELL GOLD BELOW 1192 TARGET 1187 1182 SL 1198
BUY GOLD ABOVE 1202 TARGET 1207 1213 SL 1196

Forex Market Update

The Swiss franc extended its losses against the dollar and the euro Thursday after the Swiss National Bank said it plans to lower its overnight interest rate to -0.25% in an effort to weaken the franc.

The dollar USDCHF, +0.10%  fetched as much 0.985 franc before retreating back to 0.98. It traded at 0.974 franc on Wednesday, according to FactSet data. Meanwhile.

The euro EURCHF, +0.07%  traded as high as 1.210 Swiss francs, up from 1.021 francs on Wednesday. It has since moved lower to trade at 1.204 francs.

The dollar traded lower against the ruble for a second consecutive session Thursday USDRUB, -1.45% continuing a broad correction in emerging-market currencies after two weeks of losses.

The euro EURUSD, -0.07% traded at $1.23 on Thursday compared with $1.235 on Wednesday.

The ICE U.S. Dollar Index DXY, +0.07% a measure of the greenback’s strength against a trade-weighted basket of six rivals, was up 0.10% at 89.2250.

U.S. stocks within striking distance of records after monster rally

A surging U.S. stock market rallied to its best two-day gains in three years Thursday.

The S&P 500 SPX, +2.40%  jumped 48.34 points, or 2.4%, to 2,061.23, it’s biggest one-day gain in nearly two years. It is also the first time since Aug 2002 that the benchmark index posted two consecutive days of gains greater than 2%, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.