November 06, 2009
By: martinwo
Category: Economic, KLSE
SUMMARY FRIDAY 6/11/09:
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Wall St up 2.1%. Weekly initial jobless claims dipped to 512,000, the lowest since January. 3Q’2009 productivity rose strongly to 9.5%. Euro central bank left interest rate unchanged at 1.0%.
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Tonight’s US unemployment, estimated to rise to 9.9% in October, may be high as the strong productivity indicates companies not hiring.
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Dow of 10,005, with 10,300 resistance.
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Dollar is steady against the yen at 90.1 yen.
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Crude oil is steady at USD79, targeting USD84.
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Gold is steady at USD1,100. Targeting USD1137.
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Ringgit of 3.42, is softer. Exports slumped 24.2% yoy in Sept, for the 11th month. The downside is limited to the trendline support at 3.47.
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S’pore ringgit is firmer at 2.45. With a pullback support at 2.42, the long term upside is at 2.52.
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Malaysia market closed higher at 1253. Upside is at 1261. Support is 1241.
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CPO Dec futures of RM2215, on support at RM2100 price gap, is targeting the price gap of RM2340 of 1/9/09.
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Today’s trading range is between 1248 and 1261.
