Comex Market Update :Epic Research Malaysia

Crude-oil futures ended nearly 3% higher on Monday and briefly topped $50 a barrel, pushing back against earlier losses that stemmed from strikes at U.S. refineries and sluggish manufacturing data from China.

Light, sweet crude futures for March delivery CLH5, +0.61%  added $1.33, or 2.8%, to settle at $49.57 a barrel on the New York Mercantile Exchange.

Brent crude for March delivery LCOH5, +0.68%  rose $1.76, or 3.3%, to finish at $54.75 a barrel on London’s ICE Futures Exchange. That was Brent’s highest settlement since Jan. 2.

Current Market Update :Epic Research Malaysia

Tokyo (Nikkei Average NIK, -1.19% ) down 0.5% 
Hong Kong (Hang Seng Index HSI, -0.36% ) down 0.3% 
Shanghai (Shanghai Composite Index SHCOMP, +0.49% ) up 0.4% (at break)
Sydney (S&P/ASX 200 XJO, +1.51% ) up 1.2% 
Seoul (Kospi SEU, -0.15% ) down 0.1% 
Mumbai (Sensex 1, -0.05% ) up 0.3% 
Taipei (Taiex Y9999, +0.61% ) up 0.7%

IForex Recommendations :Epic Research Malaysia

TRADING TIPS :

USD/JPY hit 117.39 during late Asian trade, the session low; the pair subsequently consolidated at 117.86, declining 0.38%. Apreliminary report earlier showed that Japanese industrial production rose 1.0% in December, confounding expectations for an increase of 1.3%, after a 0.5% fall the previous month.A separate report showed that household spending in Japan rose 0.4% last month, below expectations for a 0.3% gain, after a 0.4% uptick in November. Data also showed that Tokyo’s consumer price inflation advanced 2.3% this month, exceeding expectations for a 2.2% rise and after a 2.1% rise in December.Tokyo’s core consumer price inflation, which excludes fresh food, rose 2.2% in January, in line with expectations, after a 2.3% increase in December.

INTRADAY OUTLOOK

Support: 117.07

Resistance: 117.76

RECOMMENDATION:

1. Buy USD/JPY Above 117.78-TG: 117.98/118.28 SL 117.48

2. Sell USD/JPY Below 117.05-TG: 116.85/116.55 SL 117.35

INTRADAY OUTLOOK

Immediate Support: 1.1269

Immediate Resistance: 1.1340

RECOMMENDATION:

1. Buy EUR/USD Above -1.1342 TG: 1.1362/1.1392 SL 1.1312

2. Sell EUR/USD Below -1.1267 TG:1.1247/1.1217 SL 1.1297

Comex Recommendations :Epic Research Malaysia

INTERNATIONAL COMMODITY NEWS :
Gold rallied more than $20 on Friday, after data showed the U.S. economy grew less than expected in the fourth quarter.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery jumped $23.30, or 1.86%, to settle at $1,279.20 a troy ounce by close of trade on Friday.Futures were likely to find support at $1,252.10, the low from January 29, and resistance at $1,300.20, the high from January 26.The Commerce Department said in a report that the economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.The U.S. dollar index, which measures the greenback’s strength against a trade weighted basket of six major currencies, ended at 95.00 by late-Friday, down 0.01% for the day and 0.33% lower on the week

TRADING STRATEGY :
BUY GOLD ABOVE 1288 TARGET 1293 1299 SL 1282
SELL GOLD BELOW 1272 TARGET 1267 1261 SL 1279

Current Market Update:Epic Research Malaysia

Tokyo (Nikkei Average NIK, -0.45% ) down 0.5% 
Hong Kong (Hang Seng Index HSI HSI, -0.28% ) down 0.4% 
Shanghai (Shanghai Composite Index SHCOMP, -1.16% ) down 1.8% 
Sydney (S&P/ASX 200 XJO, +0.34% ) up 0.9% 
Seoul (Kospi SEU, -0.08% ) up 0.1%
Taipei (Taiex Y9999, +0.14% ) up 0.1%