Gasoline Market Update

February gasoline RBG5, -1.51%  slipped nearly 2 cents, or 1.3%, to settle at $1.3232 a gallon on the Nymex. That was the lowest settlement for gasoline futures since March 11, 2009. Gasoline futures ended the week down 7.7%.

Gold posts 2.5% weekly gain aided by jobs data

Gold prices rebounded on Friday from two days of losses after data showed continued job creation in the U.S., finishing 2.5% stronger on the week.

Gold for February delivery GCG5, +1.23%  rose $7.60, or 0.6%, to settle at $1,216.10 an ounce, while March silver SIH5, +0.82% climbed 3 cents to $16.42.

Oil down 8%, post seventh-straight weekly loss

Oil futures fell Friday, extending losses to a seventh week in a row.

Light, sweet crude for delivery in February CLG5, -1.19%  lost 43 cents, or 0.9%, to settle at $48.36 a barrel on the New York Mercantile Exchange.

Nymex crude had settled higher for the two past trading sessions. On the week, it lost 8.2%. The seven-week string of losses is the longest since a matching streak in November.

Brent crude for February delivery LCOG5, -1.98% the European benchmark, lost 85 cents, or 1.7%, to settle at $50.11 a barrel. Brent lost 11% this week, also down for seven consecutive weeks.

Market Closing Update

MALAYSIA share prices closed higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 4.38 points to 1732.44.

Volume was 1.72 billion lots worth RM1.81 billion.

Gainers outnumbered losers 424 to 342.
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KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5034 during European morning trade, the pair’s lowest since July 2013; the pair subsequently consolidated at 1.5056, declining 0.36%.Cable was likely to find support at 1.4812 and resistance at 1.5156, Wednesday’s high.The dollar continued to be underpinned after a report on Wednesday showed that the U.S. private sector added a larger-then-forecast 241,000 jobs in December. The upbeat data boosted the outlook for the U.S. recovery and raised expectations for a strong reading of the government nonfarm payrolls due on Friday. On Wednesday, the minutes of the Federal Reserve’s December meeting did little to alter expectations that U.S. interest rates will start to rise later this year.


INTRADAY OUTLOOK
Support: 1.5033
Resistance: 1.5091

RECOMMENDATION:
1. Buy GBP/USD Above 1.5093-TG: 1.5113/1.5143 SL 1.5063
2. Sell GBP/USD Below 1.5030-TG: 1.5010/1.4980 SL 1.5060

INTRADAY OUTLOOK
Immediate Support: 1.1732
Immediate Resistance: 1.1804

RECOMMENDATION:

1. Buy EUR/USD Above -1.1806 TG: 1.1826/1.1856 SL 1.1776

2. Sell EUR/USD Below -1.1730 TG:1.1710/1.1680 SL 1.1760