KLSE Stock News- Bursa Malaysia Stocks Open Lower on Tuesday, Oil Continues to Rise

Kuala Lumpur: Bursa Malaysia stock prices opened lower on Tuesday with the FTSE Bursa Composite Index down 0.53% to 1,791.93. There were 203.24 million shares traded valued at RM 76.82 mil. There were 163 gainers versus 84 decliners and 181 counters unchanged. 
Bursa Malaysia’s optimism vanished within minutes of the opening, as it erased gains to return to the starting line.

Stock Watch

1. The top KLSE active stock list including Sapura Energy was up one sen to 43.5 sen while Reach Energy gained 1.5 sen to 51 sen and Nova MSC gained 0.5 sen to 18 sen.

2. The top KLSE gainer stocks list, Air Asia was among the early gainers, adding four sen to RM3.10. Heavyweight Genting rose four sen to RM7.81 while Hengyuan climbed 12 sen to RM6.62.

3. The Klse loser stock including Hartalega slid four sen to RM6.56 in early trade. Maybank Investment Bank report said the glovemaker’s upcoming 2QFY19 core earnings is expected to be flattish. Meanwhile, CIMB slid three sen to RM5.98, Tenaga dipped two sen to RM15.50, Axiata shed two sen to RM4.63 and Public Bank lost two sen to RM 23.98.

Global Market

Nasdaq index opens up today with 8,037.3 and previous close at -9.0 and HANG SENG index open with 1.87% down to reach 27,268.42.

Chinese markets remained closed for its Golden Week holidays. Japan’s markets reached for a fresh 27-year high on news that trade tension in North America may finally have relieved, lending more positivity in the global trade environment.

Currency Market

The ringgit extended yesterday’s downtrend to open easier against the US dollar this morning as risk appetite for the greenback strengthened among rising oil prices. On Monday closing the local currency stood at 4.1400/1440 against 4.1380/1420. 
Ringgit mixed trade data with other currency-

1. It rose against the Singapore dollar to 3.0164/0195 from 3.0198/0238 on Monday and improved versus the euro to 4.7921/7979 from 4.8059/8118.

2. The local currency depreciated the Japanese yen to 3.6332/6370 from yesterday’s 3.6295/6340 and weakened against the British pound to 5.3990/4046 from 5.3976/3049.

Commodity Market

Comex Crude Oil prices fringed up on Tuesday, Brent crude oil futures were trading at US$85.05 per barrel, up seven cents from their last close, near the US$85.45 peak reached in the previous session, its highest since November 2014. US West Texas Intermediate crude futures were up 25 cents at US$75.55 a barrel.

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

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

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.

Dollar seems to be weak but despite this; Prices of gold show a downfall!

Gold prices slipped on Tuesday, giving up its earlier progress despite a weaker dollar amid the intensifying trade dispute between China and the U.S.

Gold futures for April delivery on the Comex division of the New York Mercantile Exchange slipped $4.40, or 0.33%, to $1,342.50 a troy ounce by 12:00 AM ET (04:00 GMT). The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 89.66, down 0.03%, extending its losses from an overnight high at 89.78.

Dollar-denominated assets such as gold are susceptible to moves in the dollar – a fall in the dollar makes gold low-priced for holders of foreign currency and thus boost the demand for the precious metal. Gold prices pushed higher earlier in the day as risk animosity accelerated following a selloff in U.S. technology shares and amplified concerns of a full-blown trade war after China slapped new tariffs on U.S. goods on Sunday.

Investors seek out gold as a store of value during times of political or economic uncertainty. In other precious metal trade, silver futures fell 0.8% to $16.540 a troy ounce, and platinum futures slipped 0.21% to $936.60 an ounce. Meanwhile, Asian equities also trade lower on Tuesday, with the Nikkei 225 down 0.7% and the Shanghai Composite and Shenzhen Component both saw the major downfall of more than 1%.

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

Crude Oil Technical Analysis and EIA Information

Raw petroleum costs at first fell in with wide based hazard craving patterns, dropping close by the bellwether S&P 500 stock list. Costs recuperated most lost ground into the finish of the day however as supposition balanced out and showcases checked out EIA information demonstrating a sensational form in gas and distillate inventories. They included a joined 10.6 million barrels a week ago, overshadowing conjectures ten times and overpowering a bigger-than-anticipated rough stockpiling addition of 5.02 million barrels.

CRUDE OIL TECHNICAL ANALYSIS

oil price forecast 15-03-2018

Raw petroleum costs are curling up inside a Falling Wedge outline arrangement. The setup ordinarily conveys bullish implication, yet affirmation is required on every day close over the example’s upper limit at 62.11. That would at first uncover the February 26 high at 64.21. On the other hand, a dip under help in the 59.59-60.00 territory (wedge floor, March 8 low) makes ready for another trial of the February 9 base at 58.11. Source

EUR/USD Moving to Test a Strong Support

# EUR/USD Technical Strategy: SHORT AT 1.2407

# Five-day Euro rise is by all accounts remedial inside a bigger down move

Falling starlight at previous help, 4-hour inversion indicate swing top set

Reactivated EUR/USD short exchange goes for help test beneath 1.24 check

The Euro has dealt with a five-day winning streak against the US Dollar, however, picks up may end up being restorative, offering an approach to descending resumption. Obviously, costs put in a Shooting Starlight on a retest of previous pattern line bolster, implying at hesitation and cautioning that an inversion might be around the bend.

EURUSD-Technical-Analysis-Euro-Down-Move-Ready-to-Resume_body_Picture_2 08-3-2018
EURUSD-Technical-Analysis-Euro-Down-Move-Ready-to-Resume_body_Picture_2 08-3-2018

Zooming into a four-hour graph (see underneath), a break of the close term arrangement of higher highs and lows appears to recommend that the rise from March lows has lost momentum.Negative RSI uniqueness supports the case for the development of a swing top and an on-coming downturn.

A week ago’s request to short EUR/USD at 1.2277 was filled however the position was in this manner halted out on a day by day close over 1.2329.Bearing at the top of the priority list the present setup, the exchange has been re-built up at 1.2407. It at first targets 1.2350 and conveys a stop-misfortune to be initiated on a day by day close over 1.2445. Source