KLSE Stock News: Bursa holds stable on Wednesday as the previous session’s close at 1,798.20

Kuala Lumpur: Bursa Malaysia stock prices opened steady on Wednesday as the previous session’s close at 1,798.20 with FBM KLCI. There were 169.73 million shares traded valued at RM66.81 mil. There were 160 gainers versus 78 decliners and 203 counters unchanged.

Stock Watch

1. The most active KLSE stock list included Fitters rising 1.5 sen to 42 sen, Key Asic losing   1.5 sen to 19 sen and Hibiscus rising two sen to RM1.30. 
2. The top KLSE gainer stocks list, KESM rose 18 sen to RM15.20, Hengyuan gained 16 sen to RM6.96 and Petrason Gas added 10 sen to RM19.08. 
3. The Klse loser stock including Nestle, shaving 60 sen to RM 145.90, KLK dropping 24 sen to RM24.76 and Press Metal dipping five sen to RM4.80. Maybank lost three sen to RM9.71 and IOI slid three sen to RM4.53.

Global Market

Asia opened weaker with Japan’s Nikkei slipping 0.4% and South Korea’s Kospi falling 1.25%. Nasdaq index opens up today with 7,999.55 and previous close at -37.7 down and HANG SENG index open with 26,840.20 and previous close at 27,006.23

Currency Market

Forex Signals: After two days of downtrend backed by higher oil prices, the RINGGIT opened slightly higher against the US dollar on Wednesday. The local currency stood at 4.1380/1410 against 4.1400/1430 recorded at Tuesday’s closing. 
Ringgit mixed trade data with other currency- 
1. It slightly down against the Singapore dollar to 3.0108/0140 from 3.0100/0129 on Tuesday and declined versus the euro to 4.7765/7816 from 4.7668/7715. 
2. The local currency depreciated the Japanese yen to 3.6423/6459 from yesterday’s 3.6399/6438 and declined against the British pound to 5.3695/3738 from 5.3634/3677.

Commodity Market

Comex Crude Oil: The oil prices fall on Wednesday, oil prices remain near four-year highs reached earlier this week ahead of US sanctions against Iran’s oil exports that kick in next month.  Brent crude oil futures were trading at US $84.73 per barrel, down seven cents from their last close. US West Texas Intermediate (WTI) crude futures were down 10 cents at US$75.13 a barrel.

 

KLSE Stock News- Malaysia stocks open lower on Wednesday, Bursa Shares Continues Slide ahead of US Federal Decision

Kuala Lumpur: Bursa Malaysia continued its slide by opened its share prices lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 6.49 points to 1,787.98 at 9.01am. The trading volume was 115.48 million shares valued at RM53.74mil. There were 117 gainers versus 78 decliners and 179 counters unchanged. 

The consistency in share slide as global markets traded mixed ahead of decisions made at a two-day US Federal Reserve meeting set to end on Wednesday. Traders are broadly expecting the Fed to raise interest rates for the third time this year at the climax of the meeting in another round of tightening.

Stock Price Penetration

Pestech International Bhd, move higher  8 sen to RM1.53 as the group finally secured the Gemas-JB double track electrification project worth RM399mil. Other gainers included Scientex Berhad, which rose 14 sen to RM8.75 and UMW, pushing six sen higher to RM5.12.

On the losing end, Lotte Chemicals Titan shed 6 sen to RM5.01. Plantations were also seen to weigh with Sime Darby Plantation losing 5 sen to RM5.25 and IJM Plantation slide 3 sen to RM2.43.

Global Currency Market

The ringgit was almost unchanged against the US dollar in early trade Wednesday. At 9 am, the local currency stood at 4.1350/1400 against 4.1350/1390 recorded on the previous day. 

The ringgit traded mixed versus other major currencies
1. It rose against the Yen to 3.6609/6657 from 3.6638/6677 on Tuesday and strengthened against the Euro to 4.8628/8691 from 4.8644/8699. 
2. It depreciated against the Singapore Dollar to 3.0280/0321 from yesterday’s 3.0273/0309 and weakened against the British Pound to 5.4479/4561 from 5.4400/4465.

Commodity Market

The Brent oil fringe further away from a four-year high on Wednesday down 43 cents at US$81.44 a barrel. Earlier on Tuesday, Brent hit its highest since November 2014 at US$82.55 a barrel.

The US crude futures were down 40 cents at US$71.88 a barrel. The US said it would ensure crude markets are well supplied before the penalties are re-imposed on Iran.

 

 

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.

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

Canadian Dollar Fundamental Analysis and News

While monetary standards like the Dollar, Euro and Yen have combined in spite of clear dangers, the Canadian Dollar has won the little break

Oil costs have held the light, however, Canada’s advantage has been checked because of the excess of the item and a record US yield

Presently, protectionism is the Canadian Dollar’s most serious hazard to NAFTA renegotiations and US levies which will correct more extensive weight

The-Canadian-Dollar-the-Most-Fundamentally-Troubled-Major_body_CAD_Index 06-03-2018

The Canadian Dollar’s Tumble Indicates Something Is Amiss

Regardless of whether you weren’t up to speed on the principal topics course the business sectors, you would at present have the capacity to tell something genuine is measuring the Canadian Dollar. The cash has endured material misfortunes against monetary forms whose impact is by and large much more productive yet has favored combination as opposed to drifting, for example, USD/CAD, GBP/CAD, and EUR/CAD. The previous outperformed 1.2900 in leeway of a noteworthy protection while any semblance of EUR/USD, GBP/USD and USD/JPY remain moored. For EUR/CAD, the Italian race and its outcomes kept speculators questionable about the future while the ECB choice kept them from theoretical; yet this specific combine charged to new multi-year highs. What’s more, the Brexit-tied Sterling wouldn’t avoid GBP/CAD from clearing protection and shooting higher. Source

Huge Up movement is expected at the Crude oil and Gold price

Commodity Trading Alerts and Signals

Raw petroleum discovers true help as the US Dollar dives on CPI information

Gold costs train in on January high after lift from against USD request

Items propelled higher as the US Dollar drooped after January’s US CPI information crossed the wires. Unrefined petroleum costs are designated as far as the greenback on worldwide markets, so the cash’s droop offered accepted help. A pickup in chance hunger presumably assisted a well, with the WTI benchmark ascending close by stocks. Gold rose as the move stirred interest in hostile to fiat choices.

Looking forward, US PPI information adds up to the main piece of vital planned occasion hazard on the docket. The center discount expansion rate is relied upon to tick down from 2.3 to 2.1 percent. Anything shy of an emotional upside astounds reverberating a month ago’ surge in wage development appears to probably bolster continuation of the present account, however force may moderate after yesterday’s hazardous moves.

GOLD TECHNICAL ANALYSIS

Gold costs surged higher to challenge the 38.2% Fibonacci extension at 1356.23. Every day close over this boundary makes ready for a trial of the 1366.06-71.50 zone (January 25 high, half level). The primary huge drawback obstruction stays in the 1312.36-16.50 zone (38.2% Fib retracement, bolster rack).

Crude Oil TECHNICAL ANALYSIS

Raw petroleum costs are endeavoring to mount a recuperation. Every day close over the 23.6% Fibonacci retracement at 60.84 opens the entryway for a retest of the 14.6% level at 63.05. Then again, a turn bring down that ruptures the 38.2% Fib at 57.25 focuses on the half retracement at 54.36. Source