Wall St down 0.9%, tracking the dollar, which rose slightly. Weekly initial jobless claims, as expected, at 505,000. Leading economic indicator up 0.3% in October, down from Sept’s 1.0%. However, manufacturing in the Philadelphia region expanded more than expected on the economic index, up 16.7 in Nov, from Oct’s 11.5. Dollar was higher; commodities down.
- Dow of 10,332. Resistances at 10,500, 10,800
- Dollar is recovering to 89.6 yen. Upside is at 90.6 yen
- Crude oil is lower at USD77, on USD76.8 gap support
- Gold of USD1141, may have topped out at intraday high of USD1,152. Correction to USD1127 is possible.
- Ringgit weakens to 3.38, on market talks of intervention to stem the rise, as exports have yet to pick up. However, the downside is limited to 3.40, ahead of today’s 3Q’2009 GDP, which is expected to improve to 2% contraction, compared to the 2Q’2009’s 3.9% contraction. Upside is at 3.36
- S’pore ringgit is firmer at 2.435. With a pullback support at 2.42, the long term upside is at 2.52.
- Malaysia market closed higher at 1276. With strong support at 1271, it is targeting yearend 1292, and 1300.
- CPO Dec futures is steady at RM2360. Upside is at RM2420.
- Today’s trading range is between 1271 and 1278.
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