KLSE Stock News- Bursa Malaysia Open Lower On Tuesday; Axiata leads decline on Bursa Malaysia

Kuala Lumpur: MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.57 points to 1,797.60
The trading volume was 96.63 million lots worth RM38.75 million and there were 311 advancers versus 337 decliners and 371 counters unchanged.

Loser Stocks

The biggest fall was seen in Axiata in the morning session, losing 16 sen to RM4.61 and Genting Malaysia shed four sen o RM5.02 while TNB dropped four sen to RM15.48. There was no change was seen in Banks although CIMB slid two sen to RM6.01. The stock had fallen as much as four sen earlier in the trading session.

Gainer Stocks

Petronas Dangangan is the top performer on the index by rising 20 sen to RM26.56 and Petron Malaysia BHD also performs well by adding 18 sen to RM8.38. 
Pinehill Pacific, the share price had jumped nearly four-fold over the previous two sessions on news of the sale of its Perak assets for RM414mil finally gave up some gains. At midday, it had slipped 8.5 sen to 45.5 sen.

Global Market

Tuesday’s morning session given the negative sentiment surrounding the escalation of the US-China tariffs war and prospects for global growth. 
The regional markets were mixed, with declines led by Chinese markets on their first day of trading after a holiday-extended weekend. Despite the bearish mood, the local market held relatively steady as stocks on the exchange were quite evenly split between gainers and losers.

Commodity Market

Oil prices were within reach of four-year highs hit in the previous session, as US appear sanctions against Iran and unwillingness by the Organization of the Petroleum Exporting Countries (OPEC) to raise output supported the market. 
WTI crude grew 15 cents to US$72.23 a barrel while Brent crude added 23 cents to US$81.43 a barrel.

Currency Market

The ringgit slipped 0.15% against the greenback at 4.1350. It was marginally higher against the pound sterling at 5.4138 and Singapore at 3.0265.

 

US Dollar Gain a Positive Movement After Jobs Data

US Dollar may backtrack some current increases after April employment information. Australian Dollar higher after RBA updates swelling viewpoint. Yen up while Asia Pacific stocks fall as Mnuchin visits China (US Dollar Trading Alerts)

A dull offering of European financial information is probably going to see cash markets concentrated on April’s US work showcase information through the finish of the week. The economy is relied upon to have included 192k employments a month ago, denoting a vivacious bounce back from the small 103k increment recorded in March. The joblessness rate is seen tumbling to 4 percent, the west since December 2000.

On adjust, dealers will probably be more intrigued by the pace of wage expansion – where the one-year rate is relied upon to stay at 2.7 percent – than feature work creation measurements. The Fed has everything except pronounced triumph on achieving its objective of “greatest work” some time back, putting the second target of doing as such in a setting of “value strength” up front as the driver of approach choices.

EUROPEAN TRADING SESSION 04-05-2018
EUROPEAN TRADING SESSION 04-05-2018

From a handy point of view, the easy way out most likely leads bring down for the US Dollar in the information discharge’s outcome. It is floating close to a four-month high after a precarious upshift in the Fed rate climb standpoint. Wages would likely need to post an unrealistically expansive upside amazement to rouse solid finish in the close term. Or maybe, benefit taking may push the greenback to bring down after occasion hazard has passed.

ASIA PACIFIC TRADING SESSION 04-05-2018
ASIA PACIFIC TRADING SESSION 04-05-2018

The Australian Dollar outflanked in Asia Pacific exchange, ascending after the RBA redesigned its swelling viewpoint and said higher rates are probably going to be suitable “sooner or later”. The Japanese Yen also exchanged higher as local offers declined, offering a lift to the standby against chance cash. Uneasiness about US exchange arrangements with China may have been an impetus as Treasury Secretary Mnuchin visits Beijing. Source

Robert Mueller, in a gathering with U.S. President Donald Trump’s legal Advisers in March

Special Counsel Robert Mueller, in a gathering with U.S. President Donald Trump’s legal advisors in March, raised the likelihood of issuing a subpoena for Trump in the event that he decreases to converse with specialists in the Russia test, a previous legal counselor for the president said on Tuesday.

John Dowd disclosed to Reuters that Mueller said the likelihood of a subpoena in the early March meeting. Mueller’s subpoena cautioning was first detailed by the Washington Post, which referred to four individuals comfortable with the experience.

“This isn’t some amusement. You are screwing with crafted by the leader of the United States,” Dowd said he told the agents, who are testing conceivable plot between the Trump crusade and Russia. Dowd left the president’s legitimate group around two weeks after the gathering.

The Post said Mueller had raised the likelihood of a subpoena after Trump’s legal advisors said the president had no commitment to chat with government examiners associated with the test.

After the March meeting, Mueller’s group consented to give the president’s attorneys more particular data about the subjects they wished to ask Trump, the Post detailed.

With that data, Trump’s attorney Jay Sekulow accumulated a rundown of 49 questions the president’s legitimate group trusted he would be asked, as per the Post.

That rundown, first revealed by the New York Times on Monday, incorporates inquiries on Trump’s connections to Russia and others to decide if the president may have unlawfully endeavored to hinder the examination.

“We don’t talk about discussions we have had or may have had with the Office of Special Counsel,” Sekulow told Reuters on Tuesday evening.

Trump scrutinized the break of the inquiries.

“So despicable that the inquiries concerning the Russian Witch Hunt were ‘spilled’ to the media. No inquiries on Collusion,” Trump composed on Twitter on Tuesday. “It would appear to be difficult to impede equity for a wrongdoing that never happened!”

Russia has denied meddling in the 2016 U.S. presidential race, as U.S. knowledge organizations claim, and Trump has denied there was an arrangement between his battle and Moscow.

EUR-USD Extends Bearish Trend as 1Q U.S. Report

Progressed 1Q U.S. Total national output (GDP) to Show Growth Rate Slowing to Annualized 2.0% from 2.9%. Center Personal Consumption Expenditure (PCE) to Climb to 2.6% from 1.9%.

EUR/USD Clears March-Low (1.2155) as Bearish Sequence Unfolds. Relative Strength Index (RSI) Slips Towards Overbought Territory.

Updates to the U.S. Total national output (GDP) report may control the current shortcoming in EUR/USD as the development rate is expected to ease back to an annualized 2.0% from 2.9%.

Remember, advertise members may put more noteworthy accentuation on the center Personal Consumption Expenditure (PCE), the Fed’s favored check for swelling, as the perusing is anticipated to increment 2.6% amid the initial three-months of 2018, which would stamp the speediest pace of development since 2007. Indications of elevating value weights may at last trigger a bullish response in the U.S. dollar as it puts weight on the Federal Open Market Committee (FOMC) to broaden the climbing cycle.

Be that as it may, a progression of underneath figure information prints may sap the interest of the greenback, and EUR/USD may organize a close term bounce back as market members downsize wagers for four Fed rate-climbs in 2018.

EUR/USD DAILY CHART

EURUSD-Extends-Bearish 27-04-2018
EURUSD-Extends-Bearish 27-04-2018

The close term standpoint for EUR/USD stays tilted to the drawback as it expands the arrangement of lower highs and lows from the earlier week, with the match clearing the March-low (1.2155).

Close beneath 1.2130 (half retracement) raises the hazard for a move towards 1.1960 (38.2% retracement) to 1.1970 (23.% extension), with the following locale of enthusiasm coming in around 1.1810 (61.8% retracement) trailed by the Fibonacci cover around 1.1670 (78.6% development) to 1.1680 (half retracement).

Watch out for the RSI as it approaches the oversold region, with the move underneath 30 raising the hazard for a further decrease in the conversion scale as the bearish energy accumulates pace. Source

Gold Trading Alerts: Important Updates for Gold Trader

Must Read: GOLD Trading Factors

Gold costs fall as Fed’s Brainard, Philly Fed information feed rate climb wagers. Unrefined petroleum costs burdened by US Dollar rise, general hazard avoidance. OPEC+ clergymen’s gathering, remarks from Fed’s Evans on tap ahead

The standpoint for US fiscal strategy was the focal protest of theory crosswise over money related markets Thursday. A furiously hawkish discourse from regularly timid Fed Governor Lael Brainard stirred an upshift in evaluated in 2019 rate climb wagers while the yielding bend steepened, with the spread between rates on 10-and 2-year Treasury securities ascending by the most in more than two months.

Brainard talked unfavorably of “building cycle weights” that she expects will be strengthened by financial boost, suggesting a pickup in swelling. She likewise stressed resoundingly over “raised hazard” from extended resource valuations and business use levels, cautioning against “lack of concern” about vulnerabilities. A precarious ascent in acknowledged and expected value weight in the Philadelphia Fed survey of organizations strengthened the point.

GOLD TECHNICAL ANALYSIS

Gold-Price-Forecast 20-04-2018
Gold-Price-Forecast 20-04-2018

Gold costs are as yet stuck underneath protection in the 1353.87-57.50 territory (twofold best, falling pattern line). Every day close above it uncovered July 2016 high at 1375.15. On the other hand, a turn beneath close term rising pattern line bolster at 1340.73 uncovered the range floor at 1307.25.

Crude Oil Technical and Fundamental Overview

Crude Oil costs snap five-day win streak as Syria stresses ease. Programming interface stock stream information beside control value slant advancement. Gold costs may break a gridlock on approaching Fed editorial

Crude Oil costs turned strongly lower, snapping a five-day winning streak. The move appears to have reflected facilitating worries about the acceleration in Syria after US President Trump flagged an end of the week rocket assault intended to rebuff the administration for utilizing synthetic weapons was a unique case. Trump additionally moved in an opposite direction from sanctions went for punishing Russia for its help of Syrian President Bashar al-Assad.

In the meantime, gold costs stamped time as ebbing geopolitical hazard converted into firming hazard craving, boosting Fed rate climb wagers while at the same time undermining support for the US Dollar. The last impact appeared to reflect ebbing sanctuary request and also the re-development of the view that widening worldwide recuperation will see top national banks limit the US national bank’s lead down the way to boost withdrawal. This put gold’s parts as hostile to fiat and benchmark non-enthusiasm bearing resource in strife, converting into a stop.

CRUDE OIL TECHNICAL ANALYSIS

Crude-Oil-Prices-Snap-5-Day-Win-Streak-Eye-Inventory-Data_body_Picture_1 17-04-2018

Crude Oil costs pulled back from protection bunch in the 66.63-67.49 territory (January 25 high, rising channel top, 38.2% Fibonacci development). From here, a move back underneath the 23.6% level at 63.90 opens the entryway for a trial of channel floor bolster at 62.50. On the other hand, turn over 67.49 sees the following upside hindrance at 70.38, the half Fib. Source

OPEC Report Lift Up Gold and Crude Oil Price in Commodity Market

Commodity Trading News Updates:
Raw petroleum and gold costs ascended in the midst of expanded Syria struggle risk on Wednesday

Consideration now swings to the US reaction and the approaching month to month OPEC oil report

Both gold and raw petroleum outlines give cautioning suggestions that costs may soon head lower

Unrefined petroleum costs climbed in excess of two percent on Wednesday, moving to the most astounding point since December 2014. The risk of a contention between the US and Syria helped push costs higher notwithstanding EIA oil inventories expanding by the most since early March. In the meantime, gold costs additionally aroused. Notwithstanding, a portion of the additions in the counter fiat yellow metal were lost when the US Dollar revived towards the finish of the day.

We likewise had the second day of the International Energy Forum in New Delhi. There, OPEC’s Secretary General Mohammad Barkindo talked and said that the gathering is sure that they “will get inventories to the 5-year normal in 2018.” He included that the cartel sees consistency in March higher than in February.

Looking forward, on Thursday OPEC will issue their month to month oil advertise report. Already, the gathering needed to decrease supply by more than foreseen on account of an excess in the non-OPEC generation. Since Barkindo likewise specified that worldwide inventories are around 42 million bbl over the 5-year normal yesterday, maybe extra alterations could be probable. More slices of the supply may support oil costs.

Moreover, watch out for how the US reacts to the Syria circumstance. President Donald Trump addressed Defense Secretary Jim Mattis and they are as yet measuring choices for military activity. Both unrefined petroleum and gold costs could be left helpless against how the circumstance unfurls. In the event, that notion decays again and the US Dollar falls, gold costs may profit.

GOLD TECHNICAL ANALYSIS

gold technical chart analysis 12-04-2018

Gold costs are attempting to gain ground to the upside, however, the ware has neglected to close over the protection line of a slipping channel. Wednesday’s high additionally verged on testing the January high of 1,366.13. Negative RSI difference likewise implies that costs may soon fall. From here, close term bolster is at 1,340.94 which has gone about as protection in the past too. A push underneath that uncovered 1,323.65 which was a territory gold attempted to fall through in late March/early April.

CRUDE OIL TECHNICAL ANALYSIS

Crude-Oil-Prices-chart 12-04-2018

Not at all like gold, raw petroleum costs shut above key protection. That being the January 25th high of 66.60. Be that as it may, similar to gold, negative RSI dissimilarity is likewise present indicating energy to the upside is ebbing. Also, oil has not cleared the 38.2% Fibonacci augmentation at 67.33. From here the following target would be the half midpoint at 70.23. Then again, close term support could be the January 25th high took after by the 23.6% level at 63.74. Source

Gold and Crude Oil Trend Analysis and Forecast

Prices of Gold came into tension after US dollar rose amidst pickup sentiment. Meanwhile, crude oil prices rose despite greenback’s strength. The main catalyst for oil’s climb was when Saudi Arabia unexpectedly raised the price of its Arab Light crude in Asia. Soon though, Thursday’s performance quickly reversed course.

Just as Friday’s session got started, US President Donald Trump ordered the consideration of $100 billion of additional tariffs on Chinese products. Sentiment immediately soured and oil prices fell while gold rose. Looking ahead, the anti-fiat yellow metal and oil also face March’s US jobs report.

gold forecast 06-04-2018

The country is expected to add fewer workers and the unemployment rate is expected to fall to 4.0%. Meanwhile, average hourly earnings are expected to rise. Data outside the country has been improving relative to economists’ expectations as of late. If an upside surprise boosts the greenback, gold and oil could fall.

Coming to crude oil, the number of active rigs has been steadily increasing from around 400 since mid-2016 to last week’s reported number of 993. Further additions could end up hurting oil prices as more extractions can increase the supply of crude.

crude oil forecast 06-04-2018

 If Technical Analysis is done then, the gold price is rising at a decreasing rate in an attempt to reach the lower line of the descending channel. However, near-term support has formed around 1,323.65 and pushing through that could be a challenge. From here, near-term resistance is around 1,340.94. If gold keeps falling and pushes lower, it will face the 38.2% Fibonacci retracement at 1,316.64.

In case of crude oil, its prices are rising from August 2017. However, in an attempt to test it, a new area of support seems to have formed around 62.85. From here, immediate resistance is the 23.6% Fibonacci extension at 63.74 followed by the January 25th high at 66.60. On the other hand, if prices fall through support the next target will be the series of lows seen in the first half of March around 60.05.

Commodities Trading In Malaysia: Bullish Resolutions Eyed Upon!

While there was a lot of hustle-bustle in the stock market, the FX market was haunting quiet. On Wednesday, the S&P 500 closed nearly 85 handles above its low for the day, establishing a daily bullish outside engulfing bar in the process. Meanwhile, the DXY Index barely registered a move at all, posting an inside day relative to Tuesday’s high-low range.

For the US Dollar, there may be a genuine case that the driver of equity market volatility – tension over trade tariffs with China – has proven to be an offsetting factor to the greenback’s current stature as a safe haven currency.

Many factors have proven to be a road to nowhere for the US Dollar: while the imposition of tariffs and a trade war would be bad for the US Dollar, equity market’s constant weakness has raised the need of safety of world’s reserve currency. And vice-versa: when trade tensions ease, which is good for the US Dollar, they are allowing equity markets to rebound, which is negative for the buck.

gold trading chart 05-04-2018

While we wait for FX markets – and similarly, bond markets – to partake in the large swings seen by stocks, a different safe haven has proven quite active amidst the headlines: Gold.

Gold remains unified, symmetrical triangle in January start, then many price movements are observed; mirroring moves as the S&P 500 roared back on Wednesday, Gold slid sharply from its daily highs back to its opening price level – more than a 1% drop intraday.

Fundamentally, trade tensions have fanged higher across the globe thanks to the United States, be it with China, South Korea, Canada, and Mexico re NAFTA, or the European Union. Likewise, concerns about the trajectory of the deficit and the debt may have receded into the background thanks to trade war fears, but they won’t be going away anytime soon given the fiscal stance of the Trump administration.

gold trading alerts 05-april-2018

Technically, Gold’s symmetrical consolidation has occurred after breaking the sustained descending trend line from 2011, 2012, and 2016 swing highs. It’s fairly textbook to see a price consolidation after a bottom has been established, which developed in 2017.

In recent weeks, Gold established a series of higher lows on March 1, 20, and 28. With daily statistics and MACD trending higher above their respective median and signal lines, it appears the symmetrical triangle is favoring an upside break. In the near-term, while the equity market rebound on Wednesday may have delayed Gold’s advance, the backdrop for bullion remains favorably.

Gold and Crude Oil Prices Get Stable Due to McMaster

Commodity Trading News

Crude Oil costs teeter-totter on Trump taxes, McMaster abdication

Gold costs ascend as geopolitical feelings of dread undermine advertise precariousness

US tax exclusions, spending charge improbable to cool hazard avoidance

Crude Oil costs fell after Wednesday’s Fed-connected rally after the Trump organization slapped China with corrective taxes, activating expansive based hazard avoidance (as expected).The S&P 500 stock record – a benchmark for wide based market estimation – endured the biggest drop in about two months.

Gold costs likewise withdrew as the dismal state of mind stirred sanctuary interest for the US Dollar, undermining hostile to fiat choices. The move brought down was moderately agreeable however as the hazard off state of mind drove capital streams toward the security of Treasury securities, weighing on yields and boosting the interest of non-enthusiasm bearing resources.

Items were then shocked higher in early Asia Pacific exchange on news that US National Security Advisor H.R. McMaster has surrendered. Mr. Trump intends to supplant him with the considerably more hawkish John Bolton, a previous minister to the United Nations.

Mr. Bolton has upheld pre-emptive military activity against Iran and North Korea. The danger of finish on the previous most likely stirred apprehensions about unrefined supply disturbance while the extensively more noteworthy shot of a combative US likely cautioned of general market insecurity, discoloring paper resources and lifting gold.

GOLD TECHNICAL ANALYSIS

Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-Bolton-Switch_body_Picture_23-03-2018
Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-Bolton-Switch_body_Picture_23-03-2018

Gold costs are endeavoring to break protection set apart by the 23.6% Fibonacci extension at 1333.51. Affirmation on a day by day shutting premise uncovered the 38.2% level at 1352.40the first significant layer of help comes in at 1307.25, the base of a range winning since early February.

Crude Oil TECHNICAL ANALYSIS

Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-body_Picture_23-03-2018
Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-body_Picture_23-03-2018

Crude Oil costs are wavering beneath protection in the 66.63-67.49 zone (January 25 high, 38.2% Fibonacci extension). A break to the upside at first uncovered the half level at 70.38. Then again, a turn back underneath the 23.6% Fib at 63.90 makes room for a retest the $60/bbl figure. Source