Dollar inches up against euro, yen as big data week kicks off

The dollar was slightly higher against the yen and the euro in Asian trade Monday, with many market participants avoiding taking strong positions ahead of key data including U.S. labor figures out later this week.

The dollar USDJPY, +0.47%  was at ¥119.24, compared with ¥119.11 late Friday in New York. The euro EURUSD, -0.28%  was at $1.0862 from $1.0891.

The euro EURJPY, +0.17%  was at ¥129.62 from ¥129.86.

The WSJ Dollar Index BUXX, +0.30% a measure of the dollar against a basket of major currencies, was up 0.12% at 87.19.

Copper Market Update

May copper HGK5, +0.16%  added a penny to $2.78 a pound. April platinum PLJ5, -1.22%  fell $12.40, or 1%, to $1,131.20 an ounce. 

June palladium PAM5, +0.40%  rose 1 cent to $742.45 an ounce, after losing around 4.9% last week.

Iran talks keep crude-oil futures under pressure in Asia

Talks over a possible relaxation of sanctions against Iran that may increase global oil supplies kept crude-oil futures near a week’s low Monday, while a supply disruption due to Saudi airstrikes on Yemen looked increasingly unlikely.

light, sweet crude futures for delivery in May CLK5, -1.45%   traded at $48.09 a barrel, down 86 cents, or 1.8%, in the Globex electronic session. May Brent crude LCOK5, -0.69%  on London’s ICE Futures exchange was down 56 cents, or 1%, to $55.86 a barrel.

Gold loses ground again as data anticipation builds

Gold bid farewell to a nice win streak to end last week and on Monday, losses looked set to build as equities drew buyers, pushing the precious metal lower.

Gold for April delivery GCJ5, -0.95%  shed $11.30, or 1%, to $1,188.30 an ounce. May silver SIK5, -1.63%  lost 29 cents, or 1.7%, to $16.78 an ounce.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.4797 during European morning trade, the pair’s lowest since March 20; the pair subsequently consolidated at 1.4820, slipping 0.20%.The pound fell to one-week lows against the U.S. dollar on Friday, as demand for the greenback remained supported by the previous session’s upbeat U.S. data and as markets eyed an upcoming report on U.S. fourth quarter growth.The dollar found broad support after data on Thursday showing that the number of people filing unemployment assistance in the U.S. last week fell to a five-week low sparked optimism over the strength of the job market.




INTRADAY OUTLOOK
Support: 1.4837
Resistance: 1.4897

RECOMMENDATION:
1. Buy GBP/USD Above 1.4899-TG: 1.4919/1.4949 SL 1.4869
2. Sell GBP/USD Below 1.4835-TG: 1.4815/1.4785 SL 1.4865

INTRADAY OUTLOOK

Support: 1.0788

Resistance: 1.0848

RECOMMENDATION:

1. Buy EUR/USD Above 1.0850-TG: 1.0870/1.0900 SL 1.0820

2. Sell EUR/USD Below 1.0786 -TG:1.0766/1.0736 SL 1.0816