KLSE IForex Recommendations

TRADING TIPS :
GBP/USD hit 1.5398 during European morning trade, the session high; the pair subsequently consolidated at 1.5371.U.K. construction purchasing managers’ index increased to 60.1 last month from a reading of 59.1 in January. Economists had expected the index to tick down to 59.0 in February. “Housing, commercial and civil engineering activity all expanded at the quickest rates since last October, helped by sharp rises in new business volumes and an improving economic backdrop.”The dollar had rallied broadly on Monday after data showed that U.S. manufacturing activity continued to expand in February supported expectations for higher interest rates.





INTRADAY OUTLOOK
Support: 1.5337
Resistance: 1.5394

RECOMMENDATION:
1. Buy GBP/USD Above 1.5396-TG: 1.5416/1.5446 SL 1.5366
2. Sell GBP/USD Below 1.5335-TG: 1.5315/1.5285 SL 1.5365

INTRADAY OUTLOOK
Support: 1.1148
Resistance: 1.1187

RECOMMENDATION:
1. Buy EUR/USD Above 1.1189-TG: 1.1209/1.1239 SL 1.1159
2. Sell EUR/USD Below 1.1146-TG: 1.1126/1.1096 SL 1.1176

KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index gained 4.12 points or 0.23% on Tuesday. The Finance Index increased 0.44% to 16101.18 points, the Properties Index dropped 0.48% to 1326.69 points and the Plantation Index rose 0.14% to 7973.57 points. The market traded within a range of 7.85 points between an intra-day high of 1825.79 and a low of 1817.94 during the session.



STOCK RECOMMENDATION :
BUY COCOA LAND AT 1.965 – 1.970 TARGET 2.020 2.100 SL 1.900

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Prices for gold futures fell precipitously on Tuesday, as the U.S. Dollar Index reached its highest level in more than 11 years. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell $5.00 or 0.41% to $1,203.20 a troy ounce, as future prices wavered on a see-saw day of trading. Prices fell below a seven-week low of $1,195 an ounce during European trading, before rebounding to near $1,215 during early trading on U.S. markets. Gold prices then plunged shortly ahead of Benjamin Netanyahu’s address in front of Congress, before remaining steady during the Israeli prime minister’s speech.

TRADING STRATEGY
BUY GOLD ABOVE 1208 TARGET 1213 1219 SL 1202
SELL GOLD BELOW 1201 TARGET 1196 1190 SL 1207

S&P Market News Update

U.S. stocks declined on Tuesday, retreating from all-time highs and the psychologically significant 5,000 level for the Nasdaq reached on Monday.

The S&P 500 SPX, -0.45%  lost 9.61 points, or 0.5%, to close at 2,107.78, with eight of its main 10 sectors closing lower. A jump in oil prices lifted energy stocks, putting a lid on losses in the index.

Dollar inches lower on strong eurozone, U.K. data

The dollar inched lower against key rivals Tuesday after strong data out of Europe and the U.K. implied that economic growth in the rest of the world is beginning to catch up to the U.S.

The euro EURUSD, -0.07%  traded at $1.1175, compared with $1.1183 Monday evening, while the pound GBPUSD, -0.07%  traded at $1.5363, compared with $1.5359.

The dollar USDJPY, +0.01%  also drifted lower against the yen, trading at ¥119.70, compared with ¥120.14.

The ICE U.S. Dollar Index DXY, +0.11% a measure of the dollar’s strength against six of its largest trading partners, was down 0.06% on the day to 95.4090.