Brent price uptrend to $67 per barrel and above.

Brent crude break $67/barrel

Brent crude break $67/barrel and above.

Us dollar under downward pressure

Us dollar is under downward pressure

The price of bitcoin (BTC) has been suffering from a bearish decline since it reached $19,600 USD across global markets and had touched a low of $15,299 on December 21. Over the past two days, most of the other alternative digital asset markets were stable or made some significant gains. However, now that BTC markets have continued to dive lower, the rest of the cryptocurrency economy is feeling the wrath of the storm.

The price of bitcoin (BTC) has been suffering from a bearish decline since it reached $19,600 USD across global markets and had touched a low of $15,299 on December 21. Over the past two days, most of the other alternative digital asset markets were stable or made some significant gains. However, now that BTC markets have continued to dive lower, the rest of the cryptocurrency economy is feeling the wrath of the storm.

Low

Accumulate it while.

Wednesday, 13 Dec 2017

PETALING JAYA: There were more interest in property purchases for the first 10 months of this year compared to 2016 based on the latest Bank Negara statistics, said a research house.

MIDF Research said in a report it is maintaining a positive stance on the property sector based on loan statistic from Bank Negara and a stable House Price Index outlook from the National Property Information Centre (Napic).

It also viewed certain property counters with Klang Valley projects positively.

The report said total applied loans for property purchases in October increased 17.6% year-on-year (y-o-y) to RM29.6bil. On a 10-month basis, it grew 13% y-o-y to RM275bil.


Total approved loans for property purchases also grew y-o-y. Over a 10-month period this year, cumulative total approved loans totalled RM111bil, an increase of 11%.

MIDF said: “The higher approved loans disbursed into the market is a good leading indicator that property sales... as a whole should improve compared to last year.”

The report said Selangor saw the highest expansion in house prices, notching a growth of 8.4% y-o-y. Negri Sembilan saw a y-o-y increase of 7.6%. Both Kuala Lumpur and Johor saw y-o-y growth of 6.7%.

This, said MIDF, showed that the outlook for property price growth in greater Kuala Lumpur, which comprises both Kuala Lumpur and Selangor, remained “positive”.

Quoting Napic, MIDF said preliminary reading of the House Price Index for the third quarter of 2017 is 187.6, representing a growth of 5.1% compared to second quarter reading of 186.3 (6.8% growth), and 6.7% in the first quarter of 2017.

“The growth, although decelerating, shows that house price increase in Malaysia remains in positive territory,” MIDF said.

The report also highlighted certain property counters – SP Setia Group Bhd, Mah Sing Group Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

and UOA Development Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

.

It liked SP Setia for its plan to achieve FBM KLCI status by 2018, its attractive price for the I&P deal and for its good dividend yield.

SP Setia will be reviewing its operations over the next few months following its purchase of sister company I&P Group Sdn Bhd from Permodalan Nasional Bhd (PNB). Launches are being planned in late 2018 and from 2019 onwards post-review process.

Both SP Setia and I&P form part of PNB’s property portfolio. PNB portfolio of companies are involved in different sectors of the economy.

The purchase enabled SP Setia to increase its total land bank by almost 80% to nearly 9,730 acres and fast-track its expansion plans. SP Setia bought the sister company for RM3.65bil.

The I&P group, a township developer, has land bank of about 4,276 acres located in the central part of Klang Valley and Johor Baru.

It also liked Mah Sing for its mass-market projects in the Klang Valley and UOA for its healthy balance sheet at net cash position, with sales prospect underpinned by urban-based affordable housing.


Read more at https://www.thestar.com.my/business/business-news/2017/12/13/midf-positive-on-property-sector-outlook-next-year/#PzHh5BriX6aJ7hgU.99

The U.S. dollar fell after the Federal Reserve raised interest rates, with central bankers signaling they don’t expect inflation to pick up steam as job gains slow.

The Wall Street Journal Dollar Index, which measures the U.S. currency against a basket of 16 others, snapped a seven-day streak of gains, declining 0.7% to 86.76.

The U.S. dollar fell after the Federal Reserve raised interest rates, with central bankers signaling they don’t expect inflation to pick up steam as job gains slow.

The Wall Street Journal Dollar Index, which measures the U.S. currency against a basket of 16 others, snapped a seven-day streak of gains, declining 0.7% to 86.76.

Brent break $65/Barrel

Brent break $65 per barrel

Brent above $65 per barrel.

Brent Spikes As This Major Pipeline Breaks Down

Brent Spikes As This Major Pipeline Breaks Down

Brent break $64 /barrel and above.

Select Language​▼
CORPORATE
FROM THE EDGETOP STORIES
Highlight
Ringgit seen at below 4.00 against US dollar in 2018
Supriya Surendran & Billy Toh
/
The Edge Financial Daily

December 11, 2017 08:44 am +08
This article first appeared in The Edge Financial Daily, on December 11, 2017.

-A+A
KUALA LUMPUR: Economists see the ringgit strengthening to below the psychological level of 4.00 against the US dollar in 2018 amid expectations of an interest rate hike and higher oil prices, and of the US favouring a weak greenback.

UOB Malaysia senior vice-president of global economics and markets research Julia Goh sees the local currency trading in the range of between 3.90 and 4.05 versus the dollar next year.

“We are constructive on the ringgit owing to positive factors including higher crude oil prices and a possible 25 bps (basis points) rate hike by Bank Negara Malaysia early next year backed by improving GDP (gross domestic product) growth, stable current account surplus and growing foreign exchange reserves,” Goh told The Edge Financial Daily.

IQI Global chief economist Shan Saeed opined that the US dollar would weaken by 3% to 4% against all currencies in 2018.

“In (US President) Donald Trump’s pre-election campaign speeches he said that the US does not need an interest hike and a stronger dollar, but instead a cheaper dollar in order to spur the US economy,” said Saeed.

“On the other hand Federal Reserve (Fed) chair Janet Yellen [favours] a stronger dollar. So policywise both Trump and Yellen were not [on] the same page.

Select Language​▼
CORPORATE
FROM THE EDGETOP STORIES
Highlight
Ringgit seen at below 4.00 against US dollar in 2018
Supriya Surendran & Billy Toh
/
The Edge Financial Daily

December 11, 2017 08:44 am +08
This article first appeared in The Edge Financial Daily, on December 11, 2017.

-A+A
KUALA LUMPUR: Economists see the ringgit strengthening to below the psychological level of 4.00 against the US dollar in 2018 amid expectations of an interest rate hike and higher oil prices, and of the US favouring a weak greenback.

UOB Malaysia senior vice-president of global economics and markets research Julia Goh sees the local currency trading in the range of between 3.90 and 4.05 versus the dollar next year.

“We are constructive on the ringgit owing to positive factors including higher crude oil prices and a possible 25 bps (basis points) rate hike by Bank Negara Malaysia early next year backed by improving GDP (gross domestic product) growth, stable current account surplus and growing foreign exchange reserves,” Goh told The Edge Financial Daily.

IQI Global chief economist Shan Saeed opined that the US dollar would weaken by 3% to 4% against all currencies in 2018.

“In (US President) Donald Trump’s pre-election campaign speeches he said that the US does not need an interest hike and a stronger dollar, but instead a cheaper dollar in order to spur the US economy,” said Saeed.

“On the other hand Federal Reserve (Fed) chair Janet Yellen [favours] a stronger dollar. So policywise both Trump and Yellen were not [on] the same page.

The Pound Sterling Live - Today's Rolling Coverage of the British Pound Sterling

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US Dollar in Focus as Debt Ceiling Deadline Looms
Modified: Thursday, 07 December 2017 14:23 Written by James Skinner Subscribe to our Newsletter Follow us on Twiiter This copy is for personal, non-commercial use only. Reproduction of any content for commercial purposes is subject to our usage terms and conditions, please email the editor at his address directly for clarification.

A government shutdown in the US looms if lawmakers cannot find agreement - here's a look at what it might mean for the Dollar.
The Dollar faces a testing period ahead as lawmakers in Washington turn their attention to the annual debt ceiling debacle which, if unresolved, could see the US government forced to shut down as early as next week.
A government shutdown is the process the Executive Branch must enter into when Congress and the President fail to pass emergency legislation to fund government operations and agencies.
A temporary extension to the debt limit, agreed in September, is set to expire Friday, 8 December. Extraordinary measures, such as a government shutdown, could enable the Treasury to meet its obligations for several months.
Congressional Budget Office staff estimated in November that these measures could see the Treasury through until early April, meaning fears of a technical default by the United States should remain benign until then.
A government shutdown is politically contentious as it almost always means the furlough of federal workers. In the December month, right ahead of Christmas, this can be costly for lawmakers who will face mid-term elections in 2018.

The Pound Sterling Live - Today's Rolling Coverage of the British Pound Sterling

Search ...
>> GBP/USD Data: 1975-Present
>> Best Exchange Rate Finder
>> USD X-Rate Converter

US Dollar in Focus as Debt Ceiling Deadline Looms
Modified: Thursday, 07 December 2017 14:23 Written by James Skinner Subscribe to our Newsletter Follow us on Twiiter This copy is for personal, non-commercial use only. Reproduction of any content for commercial purposes is subject to our usage terms and conditions, please email the editor at his address directly for clarification.

A government shutdown in the US looms if lawmakers cannot find agreement - here's a look at what it might mean for the Dollar.
The Dollar faces a testing period ahead as lawmakers in Washington turn their attention to the annual debt ceiling debacle which, if unresolved, could see the US government forced to shut down as early as next week.
A government shutdown is the process the Executive Branch must enter into when Congress and the President fail to pass emergency legislation to fund government operations and agencies.
A temporary extension to the debt limit, agreed in September, is set to expire Friday, 8 December. Extraordinary measures, such as a government shutdown, could enable the Treasury to meet its obligations for several months.
Congressional Budget Office staff estimated in November that these measures could see the Treasury through until early April, meaning fears of a technical default by the United States should remain benign until then.
A government shutdown is politically contentious as it almost always means the furlough of federal workers. In the December month, right ahead of Christmas, this can be costly for lawmakers who will face mid-term elections in 2018.

US Dollar in Focus as Debt Ceiling Deadline Looms

US Dollar in Focus as Debt Ceiling Deadline Looms

Psiptek and lonbisc only 0.13 and 0.68 respectively. Previously 0.20 and 0.80.

Psiptek and London biscuit cheap to buy

Psiptek and London biscuit cheap.

Psiptek and lonbisc cheap to accumulate.

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) believes the normalisation rate for the country’s key Overnight Policy Rate (OPR) is around 3.50 per cent.

This suggests that there could be two interest rate hikes between next year and 2019, according to AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir. Sulaiman said the first hike could possibly be introduced by Bank Negara Malaysia in the first quarter of 2018 and second either in the second half of next year or first half of 2019.

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) believes the normalisation rate for the country’s key Overnight Policy Rate (OPR) is around 3.50 per cent.

This suggests that there could be two interest rate hikes between next year and 2019, according to AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir. Sulaiman said the first hike could possibly be introduced by Bank Negara Malaysia in the first quarter of 2018 and second either in the second half of next year or first half of 2019.

Banks to see wider margins when OPR climbs

Astro AwaniToggle navigation


BERITA | BISNES
Eksport Malaysia dijangka berkembang 17.9 peratus pada Oktober - RAM
Diterbitkan pada Disember 06, 2017 08:31 MYT

Eksport Malaysia dijangka berkembang 17.9 peratus pada Oktober - RAM
Pertumbuhan import dijangka meningkat 20.2 peratus memandangkan hubung kaitnya yang kukuh sebagai faktor input utama bagi barangan dieksport dalam keadaan hubungan baik Malaysia dengan rantaian nilai global. - Gambar hiasan
KUALA LUMPUR: Eksport Malaysia dijangka mengekalkan momentum pertumbuhan dua digit berbanding tahun pada Oktober 2017, peningkatan pada kadar pantas 17.9 peratus, menurut RAM Ratings Services Bhd.

Dalam kenyataan hari ini, agensi penarafan itu berkata, sebahagian besarnya berasaskan jangkaan pemulihan pertumbuhan eksport ke Singapura dan Jepun, serta peningkatan kesan asas yang rendah pada Oktober tahun lepas.

Eksport bahan api mineral dijangka menyokong pertumbuhan eksport keseluruhan bagi beberapa bulan akan datang, menurutnya.

"Ini didorong oleh harga minyak mentah Brent yang kukuh secara ketara sejak September, yang sewajarnya mendorong harga eksport purata lebih tinggi, dan, seterusnya, pertumbuhan nominal eksport bahan api mineral," menurut agensi penarafan itu.

Mengenai pertumbuhan import, ia dijangka meningkat 20.2 peratus berbanding tahun pada Oktober, memandangkan hubung kaitnya yang kukuh sebagai faktor input utama bagi barangan dieksport dalam keadaan hubungan baik Malaysia dengan rantaian nilai global, menurut RAM Ratings.

Astro AwaniToggle navigation


BERITA | BISNES
Eksport Malaysia dijangka berkembang 17.9 peratus pada Oktober - RAM
Diterbitkan pada Disember 06, 2017 08:31 MYT

Eksport Malaysia dijangka berkembang 17.9 peratus pada Oktober - RAM
Pertumbuhan import dijangka meningkat 20.2 peratus memandangkan hubung kaitnya yang kukuh sebagai faktor input utama bagi barangan dieksport dalam keadaan hubungan baik Malaysia dengan rantaian nilai global. - Gambar hiasan
KUALA LUMPUR: Eksport Malaysia dijangka mengekalkan momentum pertumbuhan dua digit berbanding tahun pada Oktober 2017, peningkatan pada kadar pantas 17.9 peratus, menurut RAM Ratings Services Bhd.

Dalam kenyataan hari ini, agensi penarafan itu berkata, sebahagian besarnya berasaskan jangkaan pemulihan pertumbuhan eksport ke Singapura dan Jepun, serta peningkatan kesan asas yang rendah pada Oktober tahun lepas.

Eksport bahan api mineral dijangka menyokong pertumbuhan eksport keseluruhan bagi beberapa bulan akan datang, menurutnya.

"Ini didorong oleh harga minyak mentah Brent yang kukuh secara ketara sejak September, yang sewajarnya mendorong harga eksport purata lebih tinggi, dan, seterusnya, pertumbuhan nominal eksport bahan api mineral," menurut agensi penarafan itu.

Mengenai pertumbuhan import, ia dijangka meningkat 20.2 peratus berbanding tahun pada Oktober, memandangkan hubung kaitnya yang kukuh sebagai faktor input utama bagi barangan dieksport dalam keadaan hubungan baik Malaysia dengan rantaian nilai global, menurut RAM Ratings.

Ringgit hits 4.0470, appreciates 10pc since Jan

Ringgit hits 4.0470, appreciates 10pc since Jan

Ringgit hits 4.0470, appreciates 10pc since Jan

Psiptek and London biscuit is lower now. Last time 0.20 and 0.80 respectively.

Psiptek and London biscuit cheap to buy.

Psiptek 7145 and lonbisc 7126 still cheap.

Lonbisc 7126 counter

Psiptek 7145 counter

Ringgit up to 4.05 against USD mean decrease in its costs.

Ringgit uptrend to 4.06 against USD and 3.01 against SGD .

Will ringgit break 4.00 against USD and 3.00 against SGD?

Will ringgit break 4.00 against usd and 3.00 against SGD?

Report finally out http://www.malaysiastock.biz/Company-Announcement.aspx?id=1017550

Strong global economic growth and Saudi Arabia bringing a risk premium to oil prices could send Brent oil prices surging to $80 next year, more than 25 percent compared to current prices, according to economist Jim O’Neill, a former chairman of Goldman Sachs Asset Management.

At 11:59am EST on Monday, Brent Crude was down 0.79 percent at $63.01.

“While oil prices could be about $60 per barrel in November 2018, my guess is that they will have risen to about $80 per barrel in the meantime,” O’Neill wrote in Barron’s on Saturday.

Already run at 0.07 lastime. Now worth 0.03.

There will be an OPEC deal extension—no matter the public tussling between opposing forces in the industry cartel—if the world’s largest oil producers are really determined to end the supply glut.

On the Latest US Dollar Weakness
Adam Button Adam Button
AshrafLaidi.com
The main catalyst for US dollar bulls over the past 2 months has been tax reform, but that could also be the catalyst for the bears as Ashraf indicated here and here. The yen was the top performer Wednesday while the US dollar lagged. New Zealand retail sales beat estimates in early Asia-Pacific trading. The Premium Insights took 90-pip gain on 1 of the 2 EURUSD trades. 6 of the existing Premium trades are currently in the green.

For months various markets have been pricing in changes to the US tax code. It's impossible to say exactly what's priced in but it's clear that passing something is more likely than ever. So why the US dollar weakness?

We've been writing this week about the divergence between stock markets and USD/JPY. In the past , there has been a solid correlation between the pair and equity prices. Recently, however, the S&P 500 and Nikkei have soared while USD/JPY has languished.

One theory is that traders are wary of 'selling the fact' and getting out of the way early. Perhaps that's true. Another is that the Fed is increasingly getting worried about low inflation. Today's release of the FOMC minutes showed some members want to hit the pause button after a December hike and wait for inflation to get closer to target. There is probably some truth in that as well.

Back to the tax story. The dollar is selling because of the tax plan. More specifically, the details of the plan. It's increasingly clear this isn't a broad-based tax cut. It's heavily skewed to corporations and the top earners, while offering little to the vast majority of Americans. See Ashraf's notes on the disappointing tax holiday for US multinationals and rising cost of debt in the aforementioned pieces.

Maybe the market is saying that this plan isn't going to boost incomes, wages, investment or growth. Instead it will add to the deficit and lead to spending cuts down the road. What it will do is boost corporate profits and that explains the rosy reaction in stocks