Wall St up 0.3%, on a plethora of good figures. With the exception of Oct. durable goods down 0.6%, weekly jobless claims had a bigger than expected drop to 466,000; new home sales rose to 430,000 annual units in Oct; and personal income up 0.25, with personal spending on a surprise rise to 0.7% in Oct . Dollar continues to weaken. Commodities up. Markets will be closed for Thanksgiving on Thursday, and a shortened Friday trading. On the local market, Friday is also a holiday.
- Dow is at 10,464. Support is at 10,171. Resistances at 10,723, 11,000
- Dollar is drifting downwards to 88.1 yen. It should not breach the 88.01 low, which will pull it down to 87.0, and 86.4 yen
- Euro/dollar is higher at 1.51. Longer term upside is at 1.53
- Crude oil is higher at USD78.
- Gold has hit the USD1188 target.
- Ringgit is slightly firmer at 3.37. With support at 3.45, it is on a long term upside of 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 is RM2455, with support at RM2335. Upside remains at RM2500.
- Today’s trading range is between 1268 and 1274.
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