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TRADING TIPS :
GBP/USD hit 1.5099 during European morning trade, the session low; the pair subsequently consolidated at 1.5120, shedding 0.25%. Cable was likely to find support at 1.5032, the low of January 8 and an 18-month low and resistance at 1.5337, the high of January 5. The pound slid to nearly 18-month lows against the U.S. dollar in quiet trade on Monday, as demand for the greenback remained broadly supported despite Friday’s downbeat U.S. average earnings data.The Labor Department reported on Friday that the economy added 252,000 jobs in December, more than the 240,000 forecast by economists. The unemployment rate ticked down to a six-and a-half year low 5.6%.However, average earnings fell by 0.2% last month and were up by only 1.7% from a year earlier.
INTRADAY OUTLOOK
Support: 1.5148
Resistance: 1.5215
RECOMMENDATION:
1. Buy GBP/USD Above 1.5218-TG: 1.5238/1.5268 SL 1.5188
2. Sell GBP/USD Below 1.5145-TG: 1.5125/1.5095 SL 1.5175
INTRADAY OUTLOOK
Immediate Support: 1.1812
Immediate Resistance: 1.1887
RECOMMENDATION:
1. Buy EUR/USD Above -1.1890 TG: 1.1910/1.1940 SL 1.1860
2. Sell EUR/USD Below -1.1810 TG:1.1790/1.1760 SL 1.1840
MARKET UPDATES :
Late buying in selected heavyweight counters pushed Bursa Malaysia to end trading higher today, extending last week’s gains, dealers said. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at an intra-day high of 1,735.08, up 2.64 points, after going as low as 1,718.76 throughout the trading day. Regionally, Asian stock markets were mixed, as investors remained cautious over the US non-farm payrolls report released last week, coupled with uncertainty in global oil prices due to weakening demand in Europe and Asia.
STOCK RECOMMENDATION :
BUY V.S INDUSTRY ABOVE 2.830 TARGET 2.880 2.940 SL 2.770
U.S. stocks ended Monday’s session with losses for the second straight trading session, as a renewed assault on oil prices eroded investor confidence ahead of the start of fourth-quarter earnings season.
The S&P 500 SPX, -0.81% fell 16.55 points, or 0.8%, to 2,028.26, as nine of 10 main sectors finished lower. Energy sector lost 2.8%, while the technology sector was down 1.3%. Telecoms were the only bright spot, ending 0.6% higher.
Asian stocks were mostly firmer after benign Chinese economic data helped offset risk aversion generated by a continuing slide in crude oil prices, while the dollar fell to a one-month low against the safe-haven yen.
MSCI's broadest index of Asia-Pacific shares outside Japan pared earlier losses to rise 0.3 per cent after Chinese trade data proved better than expected.
The indicators provided relief as recent signs of weakness in the world's second largest economy has been central in worries over global growth.
Hong Kong's Hang Seng gained 0.7 per cent and the Shanghai Composite Index rose 0.8 per cent.
MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 8.26 points to 1,726.82.
Volume was 26.29 million lots worth RM15.51 million.
Losers outnumbered gainers 118 to 54.
