Wall St down 0.16%, on mixed economic figures. While the 3Q’2009 GDP was revised downwards to 2.8% from 3.5%, Consumer confidence index rose to 49.5 in Nov, up from Oct’s 48.7, and home prices rose 0.3% in Sept from Aug. Dollar was also mixed. So then, it was due more so to the shortened week of Thanksgiving on Thursday, and a shortened Friday trading. On the local market, BNM maintains OPR at the low 2%.
- Dow is at 10,433. Support is at 10,171. Resistances at 10,723, 11,000
- Dollar is drifting downwards to 88.6 yen. It should not breach the 88.01 low.
- Euro/dollar is unchanged at 1.496. Longer term upside is at 1.53
- Crude oil is slightly lower at USD76.
- Focus is on gold, rising to USD1166. Some resistance at USD1174.
- Ringgit weakened to 3.38, ahead of BNM’s OPR meeting, which continues to maintain the OPR rate at the low 2%. Ringgit is on a small correction to 3.45. Long term upside remains at 3.34.
- S’pore ringgit is firmer at 2.442. With a pullback support at 2.42, the long term upside is at 2.52.
- Malaysia market closed higher at 1272. With strong support at 1268, it is targeting yearend 1292, and 1300.
- CPO Dec futures eased to RM2417, with support at RM2335. Upside remains at RM2500.
- Today’s trading range is between 1270 and 1276.
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