Monthly Archives: May, 2012
Malaysia Budget Date Sets Course for General Election
Prime Minister Dato’ Seri Najib Tun Razak has announced yesterday that he will be tabling the 2013 Budget on September 28, 2012. According to the Prime Minister, the budget would focus on quality and balanced growth as well as the people’s well-being. The announcement was made during his keynote address at the 2013 Budget Consultation Session. Held annually, it is a government initiative to ensure the people’s overall views and participation are taken into accounts when drawing the budget. The Prime Minister also said the government has to provide equal opportunities for education and employment to ensure a higher quality of life for the people. The government would also focus on increasing productivity and innovation to strengthen competitiveness to compete in the global market. The announcement however has dampened the June/July election speculation which many analysts had been expecting. With the new announcement, many are now speculating that the 13th [...]
The US Housing Markets Recover From Bottom
A guest post written by DAR Wong Currency Market Observations – 28 May 2012 Fundamental Outlook The US DJIA begins to move in technical consolidation from 12,350 – 12,550 regions after falling for more than past 2 weeks. Housing markets stabilize in US economy while Japan makes slow recovery in exports. Europe is still suffering in overall crisis doldrums due to debt woes. European Central Bank (ECB) is setting up the Emergency Liquidity Assistance (ELA) funds for relieving the distressed indebted nations among 17 nations. The US existing home sales jumped 3.4 percent in April to 4.62 million annual rates. Another separate report on new home sales rose unexpectedly in April by gaining 3.3 percent while increasing 343,000 annual rate, compared to the revised 332,000 in March. The monthly demands for durable goods rose 0.2 percent in April while jobless claims decreased by 2,000 to 370,000 in the week ended [...]
Gold and Oil Markets Report – 28 May 2012
Crude oil prices stabilize from the recent fall amid stronger U.S. consumer confidence. No agreement has been reached in the meeting on Iran’s nuclear program but WTI Crude prices closed at almost low of last week’s range. Gold prices recover in weak sentiment and very much affected by the declining economies in Euro area. Crude Oil WTI Crude prices closed at 90.93 for the weekend while aiming to make technical recovery. This week, we expect the market to be well supported at 89.00 regions and resistance emerges at 95.00 levels. The market will be prone to bullish sentiment with favor to pick bottoms in early week. However, abandon your long-view if the market sinks below 89.00 benchmarks. Gold Gold prices threaded sideways last week from 1533.00 -1600.00 regions while moving inside a technical consolidation. Moving forward, we expect the trend to be supported at 1550.00 levels with possibility to climb [...]
Gold and Oil Markets Report – 21 May 2012
The US dollar index surges again and crosses the 80.00 benchmarks after the speculation of Greece’s exit from Eurozone and Spain’s meltdown in bonds auctions instigated new fears in market. Global equities tumble due to flight-out of funds while they search for safe haven in US dollar. Commodity prices remain weak generally across the boards. Crude Oil WTI Crude prices headed down to 90.95 while closing almost near to this low for the weekend. We reckon the buying interest will emerge very soon at 90.00 regions while the current resistances will lie at R1 – 95.00 and R2 – 97.50 areas. The trend of crudes prices are very much affected by recent rising dollar as well as contracting demands spreading from European debt crisis. Gold Gold prices has short-covering after mid last week and closed at 1592.00 regions. The market made an intra-week low at 1526.00 regions which formed the [...]
The Euro Fell Due To Resurging Debt Woes
A guest post written by DAR Wong Currency Market Observations – 21 May 2012 Fundamental Outlook The US stocks and global equities fall due to chain-fear spread over from Euro debt crisis. Investors move back into buying US dollar as safe haven while euro tumbles to 4-month low. The market attention is focused on Greece in forming a new government through coming mid June while the European Central Bank (ECB) has stopped lending to some Greek banks. Spain is being monitored for "cleaning up" within the national banks. The US retail sales slowed down in April by rising 0.1 percent after followed prior month gain of 0.7 percent. Industrial output climbed 1.1 percent, the most since December 2010 and propelled by increasing auto-manufactures. Housing starts rose 2.6 percent to a 717,000 annual rate from March’s revised 699,000 pace, showing gradual recovery in housing demands. The weekly data on American jobless [...]
Coming to Penang: The Golden Investment Opportunity of Pre-General Election
After a successful event in Johor last weekend, we are heading north to Penang this weekend to bring the hot selling event, "The Golden Investment Opportunity of Pre-General Election" to your doorstep. Our expert speaker Mr. Alfred Chen will be joined by another expert speaker, Mr. Winson Hoo, who has also given numerous talks at our events. This time around, our speakers will reveal investment opportunities that you can seize now with the upcoming 13th General Election and how it will affect the stock market. Also, you will get tips on how to select potential stocks when KLCI reaches 1600 points and the speakers’ expert insights on the current situations of US economy and the Europe debt crisis. This event is held this Saturday (May 19, 2012) at Berjaya 1 Room, Level 7, Berjaya Penang Hotel, 1-Stop Midlands Park, Burmah Road, 10350 Georgetown, Penang from 2.00pm to 6.30pm. Be sure [...]
Gold and Oil Markets Report – 14 May 2012
The US dollar index rose last week and punted down on oil and gold prices. Iraq says it will double the oil production output by 2015 and this will overtake the Iran as OPEC’s second largest producer at end of this year. This adds pressure to lower oil prices and Gold has been liquidated in international markets after Europe returns in debt crisis tension. Crude Oil WTI Crude prices came off to 95.50 regions as we forecast last week in weak technical trend. The market may face some short-covering in coming early week but resistance has shifted lower to 98.00 levels. While the market may swing between 95.00 – 98.00 ranges in some consolidation, we shall open our next lower target at 92.50 regions should the bears take control after mid week. Gold Gold prices have been reduced to 1570.00 regions as suggested last week. Moving forward, we reckon the [...]
The Euro Debt Crisis Intensifies Again
A guest post written by DAR Wong Currency Market Observations – 14 May 2012 Fundamental Outlook The US economy remains flat while Europe resurges in crisis tension. Japan pledges to increase the currency liquidity should financial turmoil returns. The UK economy slumps in fatigue with retail sales and construction both sinking. Bank of England (BOE) stands on alert to add stimulus for fighting the slowdown in case the crisis spreads. The US wholesale inventories rose 0.3 percent in March after followed 0.9 percent gain in prior month. Jobless claims dropped 1,000 filings to 367,000 in the week ended 5 May. Employment remains unsteady with consumer spending contracting. The trade deficit widened more than forecast in March when trade gap grew 14 percent to USD51.8 billion. Imports jumped for foreign hardware and automobiles. Another report on producer price index slid 0.2 percent in April after no change in March, led by [...]
Event in Johor: The Golden Investment Opportunity of Pre-General Election
It’s time for Johor! This time around, we are heading south for the hot selling event, "The Golden Investment Opportunity of Pre-General Election". Joining us in Johor this weekend are two expert speakers, Mr Gan Min Soo and Mr. Alfred Chen that will reveal investment opportunities that you can seize now with the upcoming 13th General Election and how it will affect the stock market. Also, you will get tips on how to select potential stocks when KLCI reaches 1600 points and the speakers’ expert insights on the current situations of US economy and the Europe debt crisis. This event is held this Saturday (May 12, 2012) at Grand Paragon Hotel, 18, Jalan Harimau, Taman Century, 80250, Johor from 2.00pm to 6.30pm. Be sure to come early as registration is opened at 1.30pm. Admission is FREE to all OPF clients. For more details, head over the event page here. Don’t [...]
