Monthly Archives: February, 2012
Greece Receives Second Bailout Worth EUR130 Billion
A guest post written by DAR Wong Currency Market Observations – 27 Feb 2012 Fundamental Outlook The US housing prices firm up while jobless claims remains unchanged at lowest record since March 2008. Japan posts record high for trade deficits while being pulled down by the economic meltdown of Tsunami attached since last year March. Greece receives new bailout package that will help to avoid national bankruptcy. New stimulus in Euro area lifts the crude and Gold prices in weekly highs. The US previous home sales climbed 4.3 percent in January to a 4.57 million annual rate, highest record since May 2010. The claims for jobless benefits were unchanged in the week ended 18 February at 351,000, the fewest since March 2008. Japan’s trade deficit posted record high in January when trade gap widened to JPY1.48 trillion (USD19 billion) and shipments plunged 9.3 percent from a year earlier. Economic performance…
Gold and Oil Markets Report – 27 Feb 2012
Crude oil prices rose last week after Greece was bailout by European Central Bank (ECB) with EUR130 billion financial packages while short-squeezed on the other hand by Iran’s oil supply cut to European countries. WTI Crude prices escalated to above 108.50 levels on Friday and Gold traded in strong sentiments above 1760.00 regions. Crude Oil WTI Crude prices will likely to be supported at 105.50 regions in early week before climbing higher. We expect the continual bullish trend to surpass 110.00 benchmarks in near future and aim at 115.00 regions in coming weeks. Beware if the trend reverses down to 103.50 – 105.50 levels since it may become neutral again at this price band. Gold Gold prices went up last week but the ratio of escalation compared to Crude prices is smaller in range. This week, we foresee the market will trade from 1760.00 – 1800.00 regions while planning long…
You’re Not Just Another Trader [INFOGRAPHIC]
You’re not just another trader and we are not just another broker. Interested to open an account with us but still unsure? We give you 8 reasons to say yes to OPF.
Crude Palm Oil Futures 101: What You Need to Know [INFOGRAPHIC]
Palm oil futures, especially Crude Palm Oil futures are among popular futures contracts traded at Bursa Malaysia Derivatives Exchange. Check out this infographic to know more about palm oil futures.
DJIA Higher On Nearer to Greece Bailout Deal
A guest post written by DAR Wong Currency Market Observations – 20 Feb 2012 Fundamental Outlook The US economy is better off with improvements in all data. Europe is plagued with fear of Greek debt virus while leaders are working to grant the next bailout package by swapping debt instruments. UK adds another GBP50 billion to prevent economic impact from possible Greek default in March. The US retail sales rose 0.4 percent in January but slowed down in automobile sales. Housing starts rose 1.5 percent to a 699,000 annual rate from December 689,000 pace. Jobless claims fell to 4-year low by dropping 13,000 in the week ended 11 February to 348,000. The US index of leading indicators rose in January by 0.4 percent that marks outlook growth in coming 3-6 months ahead. Consumer prices that read the cost of living climbed less than forecast at 0.2 percent growth. China, as…
Gold and Oil Markets Report – 20 Feb 2012
Gold remained resilient last week and recoiled up after every dip. Crude oil prices rose to 9-month high amid stronger US economic recovery and optimism in Greek bailout. Other oil-based commodities such as soybean and crude palm oil traded higher also on higher demands. Crude Oil WTI Crude prices went up 5 days in a row due to optimistic news of Greek new bailout in progress. The market penetrated higher than our expected resistance at 102.00 and reached 104.38 on Friday’s closing. Long traders should beware in case the trend declines below 102.60 in coming week and will eventually to 100.00 benchmark again. Otherwise, the continual bullish factor might reach higher to 106.20 regions before fizzling out. Gold Gold prices fluctuated between 1705.30 – 1737.30 regions last week but the reversal forces were strong on the market dips. This week, we are uncertain of the trend until the fundamental force…
Gold and Oil Markets Report – 13 Feb 2012
Crude oil prices remained bullish last week more on technical correction while investors expected the Greece would be bailout out again. By weekend, Greek politicians agreed to deeper budget cut in order to obtain another financial aid to meet the March repayment deadline in national bonds. Gold prices were in sideways and probably hitting a top resistance at 1750.00 regions after escalating for past 6 weeks. Crude Oil WTI Crude prices ducked down on Friday and closed at 98.85 levels. This week, we foresee the resistance will act upon 99.50 with strong selling pressure lining up to 100.00 benchmarks. Downside target might test 95.00 levels again due to natural technical correction. However, beware of positive news from euro area in coming early week in case market breaks the 100.00 rooftop levels that may lead to 102.00 regions! Gold Gold prices closed at 1721.40 for the weekend with bearish patterns. We…
The Greek Government Finally Agrees to Deeper Budget Cut
A guest post written by DAR Wong Currency Market Observations – 13 Feb 2012 Fundamental Outlook The US trade deficit widens from rising import but housing slump remains as bug to economic recovery. Greek government reaches an agreement to deeper budget cut that will qualify for financial aid to meet the March repayment in national treasuries. British economy jumps start probably after taking effect in budget cut. The US consumer credit rose in December by up USD19.3 billion to total USD2.5 trillion, higher than forecast. The jobless claims ended 4 February was down 15,000 to 358,000 and showed improvement in job market. The December trade deficit widened to 6-month high record due to imports jump with trade gap increased 3.7 percent to USD48.8 billion from prior month USD47.1 billion. Federal Reserve Chairman Ben S. Bernanke said housing slump is deterring recovery in economic growth as injected by policymakers. German factory…
10 Things You Need to Know About SARA 1MALAYSIA [INFOGRAPHIC]
Launched on January 30th, 2012 by the Prime Minister Dato’ Seri Najib Tun Razak, Skim Amanah Rakyat 1Malaysia (better known as SARA 1Malaysia) is an initiative under the 2012 Malaysian Budget to encourage the low-income group to save and invest for their future. Here are 10 important things that you need to know about this unit trust investment scheme by the Malaysian government.
The US Unemployment Falls to Almost 3-Year Low Record
A guest post written by DAR Wong Currency Market Observations – 6 Feb 2012 Fundamental Outlook The US unemployment dropped to 8.3 percent in January with increased jobs. Manufacturing in US and UK steadied in January data and pulled up global stock prices in optimism. However, consumer confidence remains weak in American markets and Eurozone also stays murky on Greek bailout with creditors refusing to swap debt agreement. The US consumer spending rose 0.1 percent in December with little changes in tight household budgets. Consumer confidence measured by New York-based Conference Board slid to 61.1 in January, adding pressure to weak demands. The Institute for Supply Management-Chicago Inc. reported its business index dropped to 60.2 in January from prior month 62.2 while the factory climbed to 54.1 from 53.1 in December. Another separate report showed US construction spending increased at the fastest pace over 4 months in December by 1.5…
