KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Friday with the FBMKLCI down 5.37 points to 1757.15.

Volume was 24.8 million lots valued at RM$6.5 million.

Losers outnumbered gainers 70 to 47.

KLSE IForex Recommendations

TRADING TIPS :

USD/JPY hit 119.19 during European early afternoon trade, the pair’s lowest since December 19; the pair subsequently consolidated at 119.51, retreating 0.94%.The dollar remained broadly supported after final data last week showed that U.S. gross domestic product rose 5.0% in the third quarter, exceeding expectations for a growth rate of 4.3% and up from 3.9% in the three months to June.The strong data fuelled further optimism over the strength of the U.S. economic recovery and added to expectations for the Federal Reserve to raise interest rates next year.Separately, markets were jittery after Greek Prime Minister Antonis Samaras said on Monday that he will recommend parliamentary elections are held on January 25, almost 18 months before his coalition’s term was due to end.


INTRADAY OUTLOOK
Support: 119.15
Resistance: 119.82

RECOMMENDATION:
1. Buy USD/JPY Above 119.85-TG:120.05/120.35 SL 119.55
2. Sell USD/JPY Below 119.12-TG:118.92/118.62 SL 119.42

INTRADAY OUTLOOK
Immediate Support: 1.2143
Immediate Resistance: 1.2182

RECOMMENDATION:
1. Buy EUR/USD Above 1.2185-TG:1.2205/1.2235 SL 1.2155
2. Sell EUR/USD Below 1.2140-TG:1.2120/1.2090 SL 1.2170

U.S. stocks finish solid year on a down note

U.S. stocks wrapped up a solid year on a down note, erasing early gains to end with sizable losses Wednesday. 

The S&P 500 SPX, -1.03% fell 21.45 points, or 1%, to finish 2014 at 2,058.90, according to early FactSet data. The benchmark gained 11.4% for the year. 

Dollar has its best year since 2005

The U.S. dollar ended its strongest year since 2005 with gains versus major rivals as investors penciled in further strength in the U.S. economy and diverging monetary policy paths between a more hawkish Federal Reserve and dovish European and Japanese central banks.

The benchmark DXY, +0.38% which measures the greenback against a basket of six rival currencies, traded at 90.269 in late North American trade, up 0.3% from Wednesday and by 12.8% since the end of 2013.

The wider WSJ Dollar Index BUXX, -0.01%  rose 0.38 point on Wednesday, to 83.04.

The euro EURUSD, +0.00% is down around 12% versus the dollar in 2014, which is also the biggest drop since 2005. The U.S. currency has advanced 13.8% against the yen USDJPY, -0.03%

The pound GBPUSD, +0.00% rose to $1.5578, from $1.5555 on Tuesday, but lost 5.9% against the U.S. unit for the year.

The Australian dollar AUDUSD, -0.04%  exchanged hands at 81.81 U.S. cents, down from 81.84 cents on Tuesday. The Aussie lost 8.3% versus the U.S. unit in 2014.

Gasoline Market Update

Nymex reformulated gasoline blendstock for January RBF5, +0.79% the benchmark gasoline contract—fell nearly 2 cents, or 1.3%, to $1.435 a gallon. That’s 48% lower than the most actively traded contract this time last year, which settled at $2.786 a gallon.