Share

Tweet this

Dealing Desk Hotline

(603)-2181 8848

Gold and Oil Markets Report – 24 Mar 2014

A guest post written by DAR Wong and Chong HC

Gold prices began to decline last week after Crimea voted to be part of Russia. Market faced profit-taking and reached down to 1320.00 regions though US pinpointed to Russia for annexing Crimea. Crude prices softened too amid increasing supply that drove the demand lower. Another reason for commodity falls over past few days was due o the recovery in US Dollar index moving up from 79.30 to 80.20 regions.

Crude Oil

WTI Crude prices pulled up from last week's low at 97.00 levels while it has been hovering around EMA200 average line. The market will continue to thread from 97.00 – 100.00 regions but picking to short from topside may be more sensible from technical appearance. We have spotted the resistance to lie at R1 – 100.00 and R2 – 101.50 in case the pull...

Read More

Yen Rises as Safe Haven Asset

A guest post written by DAR Wong

Currency Market Observations - 17 March 2014

Fundamental Outlook

The US stocks turn down amid fear of Ukraine tension and China slowdown. Gold and Yen rises as flight of fund have moved into it as safe haven as Dollar wanes. European Central Bank (ECB) President Draghi comments on his aim to lower euro value and interest rates.

The US core retail sale was up 0.3 percent and advanced for the first time in past 3 months. Jobless claims fell to 3-month low record at 315,000 in the week ended 8 March. The US stocks retreated while treasuries climbed on Ukraine tension.

The US producer prices were down unexpectedly in February by 0.1 percent after followed 0.2 percent gains. The core prices dropped 0.2 percent.

Last week, global equity markets were weak amid fears of Russia troops stepped up military exercises on Border of...

Read More

Gold and Oil Markets Report – 17 March 2014

A guest post written by DAR Wong and Chong HC

Gold prices shot up last week together with Japanese Yen as safe haven assets due to political tension in Russia-Ukraine situation. The Dollar index has been weakening as a result of spiking in Gold rises while Crude prices dropped due to increment in weekly inventories. Market investors are waiting for the outcome of referendum in Crimea on 16 March weekend to track the decision of future of Ukraine. The CPO prices went into technical correction since last Tuesday after reaching above 2900 tops.

Crude Oil

WTI Crude prices plunged after mid week upon increasing inventories at 6.2 million barrels in prior week. The market bounced off last week’s low 97.50 levels and moved into technical correction. This week, we foresee the market will be supported at 98.00 regions while trading sideways into higher prices around...

Read More

China Reports First Ever Corporate Bond Default

A guest post written by DAR Wong

Currency Market Observations - 10 March 2014

Fundamental Outlook

The US non-farm payroll gains while China reports worrisome trade balance in worst record over 2 years record. China reveals the first case of corporate bonds default and stir fears in market for coming week. European Central Bank and Bank of England hold benchmark rates unchanged while the British citizens expect the interest rates to rise in coming 1 year.

The US Institute for Supply Management's manufacturing index rose to 53.2 from 51.3 in January. Another report on services index by the same institute recorded at 51.6 in February and down from prior month 54.0, showing a slowdown in services sector probably due to storm weather.

The US jobless claims declined by 26,000 to 323,000 in the week ended March 1, showing lesser dip and pushed DJIA higher into positive regions.

On Friday, American...

Read More

Gold and Oil Markets Report – 10 March 2014

A guest post written by DAR Wong and Chong HC

Gold prices were trading lower for mild correction after Putin pulled out Russian troops from military exercises in West Crimea. Crude trends also settled lower for profit-taking ahead of weekend as inventories increased for seven weeks. The US non-farm payroll grew 175,000 and above median forecast in February, which excited the Dow Jones markets. European Central Bank (ECB) and Bank of England (BOE) held benchmark rates unchanged in last week's meetings. President Draghi of ECB foresee the inflation will rise before 2014 as recovery begins from now while the latter parties mention the anticipation by British citizens to hike rates within coming 12 months.

Crude Oil

WTI Crude prices fell off 105.20 highs last week and further declined after Wednesday after Crude inventories went up to 1.4 million barrels. The market could be supported at...

Read More

Gold and Oil Markets Report – 3 March 2014

A guest post written by DAR Wong and Chong HC

The US equity markets and Gold markets edged higher last week due to fear of tensions in Ukraine. The flight of funds have begun to search for safe havens in US and UK bonds as well since the yields for these instruments are seen lowering. American economy grew 2.4 percent in Q4 and lesser than initial estimate with inconsistent housing recovery. The weekly crude oil inventories were reduced to 100,000 barrels for the week 22 February and lifted the demands with falling Dollar.

Crude Oil

WTI Crude prices hovered on high prices amid receding Dollar and Ukraine tension before it finally settled at 102.70 for the weekend. The market is uncertain to make correction as buyers are preparing to push the market further if Russian warfare outbreaks. Technically, we foresee the market may either make...

Read More

Ukraine Tension Boosts Demands

A guest post written by DAR Wong

Currency Market Observations - 3 March 2014

Fundamental Outlook

The US expands at slower pace in growth while housing recovery still stays looming. Germany sees steadiness in accelerating economy as unemployment declines. The Ukraine Tension spurs flight of funds into leading economies in US and Britain as demands having been surging for stocks and bonds. UK grows for fourth straight quarter in Q4.

The US consumer confidence measured by Conference Board’s index decreased to 78.1 in February from a revised 79.4 in January. New home sales increased 9.6 percent to a 468,000 annualized pace in January, highest in past 5 years record. Another report on pending home sales rose 0.1 percent in January and less than forecast, conflicted the housing recovery in open markets.

The weekly jobless claims increased 14,000 to 348,000 in the week ended 22 February, exceeding all forecast. Orders...

Read More

Japan Faces Challenge in Slow Recovery

A guest post written by DAR Wong

Currency Market Observations - 24 February 2014

Fundamental Outlook

The US economy stays flat while Dow Jones benchmarks hover slightly above 16,000 levels. FED policymakers predict interest rates may rise if unemployment falls below 6.5 percent. Japan remains far from the inflation target at 2.0 percent while investors remain wary of new sales tax in April. British policymakers vow to keep low interest rates for pulling through the recovery period.

The US jobless claims declined by 3,000 to 336,000 in the week ended 15 February. Another report on consumer inflation rose slower at 0.1 percent after December gained 0.3 percent. Core inflation remained at 0.1 percent as expected. FED policymakers say interest rate may rise if jobless rate falls to 6.5 percent or lower.

The monthly manufacturing gauge for January was unexpectedly stronger at 56.7 and helped in maintaining firm equity prices...

Read More

Gold and Oil Markets Report – 24 Feb 2014

A guest post written by DAR Wong and Chong HC

The US policymakers claim readiness to hike interest rates if the unemployment falls below 6.5 percent. On the other hand, Bank of England (BOE) governors remain committed to low interest rates for seeing through the full recovery as budget surplus still rose at small pace in January. Last week, Japan's policymakers said they will boost the lending program and suppress low interest as investors are concerned of rising sales tax in April. Commodity prices in Gold and Crude stayed firm through whole week amid small corrective prices.

Crude Oil

WTI Crude prices closed at 102.20 after falling from 103.30 highs last week. This week, the market could be turning down for technical correction as well if USDX begins to move higher above 80.50 levels. The weekly Crude inventory reported last week was below expectation at...

Read More

Gold and Oil Markets Report – 17 Feb 2014

A guest post written by DAR Wong and Chong HC

The US Dow Jones benchmarks rallied and closed at 16,154.00 levels on Friday after FED's chairman Janet Yellen reiterated in early last week on maintaining the policy of scaling-back in monthly stimulus. Gold and Silver recovered to 14-week highs on weekend closing prices. On Friday morning, the consumer-inflation reported in China at 2.5 percent above median forecast further pushed the yellow metal as demand widened. Crude prices also escalated above 100.00 benchmarks upon lower Dollar Index.

Crude Oil

WTI Crude prices hung at 100.00 regions after topping the 101.38 highs last week. The increased inventory at 3.3 million barrels on previous week report has helped to cap the Crude prices below 101.00 levels despite dropping USD Index (USDX). This week, we reckon the market will be resisted at 101.40 tops while declining may be more...

Read More