Market News - 18 Nov 2009

Wall St rose 0.3%, as commodities rebounded, but the upside was capped by weak retailers. Retailers Home Depot and Target caution on earnings outlook. Wholesale inflation PPI was subdued, up 0.3% in Oct. Industrial production rose 0.1%, lower than expected, and down from Sept’s 0.7%. Dollar and commodities slightly up

• Dow of 10,437. Resistances at 10,500, 10,800
• Dollar unchanged at 88.9 yen.
• Crude oil unchanged at USD79, targeting USD84
• Gold hit USD1137 target. May have topped out at intraday high of USD1,143. Correction to USD1121 is possible.
• Ringgit of 3.36, is stronger. Upside is at 3.36
• S’pore ringgit is firmer at 2.43. With a pullback support at 2.42, the long term upside is at 2.52. S’pore exports, disappointed as it was down 6.1% in Oct, against an expectation of up 0.2%.
• Malaysia market closed higher at 1279. With strong support at 1271, it is targeting yearend 1292, and 1300.
• CPO Dec futures is unchanged at RM2311, tracking higher soybeans due to dry weathers in Argentina. Upside is at RM2340.
• Today’s trading range is between 1274 and 1286.