Monday, December 28, 2009

Trader's Highlight

DJI-NEW YORK, Dec 24 (Reuters) - U.S. stocks rallied in a brief pre-holiday session on Thursday, closing at 2009 highs, after data showing a drop in initial jobless claims and growth in durable goods orders suggested an economic recovery was
picking up steam.

NYMEX-NEW YORK, Dec 24 (Reuters) - U.S. crude oil futures rose on Thursday, ending above $78 a barrel on optimism about economic recovery that pushed equities higher, a weaker dollar and momentum from the previous day's rise after inventory reports
showed oil stockpiles fell last week.

U.S. stocks rallied after data showing a drop in initial jobless claims and growth in durable goods orders suggested an economic recovery was picking up steam.

On the New York Mercantile Exchange, February crude rose $1.38, or 1.8 percent, to settle at $78.05 a barrel, trading from $76.19 to $78.25.

CBOT-CHICAGO, Dec 24 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Thursday.

CBOT-SOYBEANS - January down 1-3/4 cents at $9.99-1/2 a bushel. Expectations for large supplies from South America pressure market in thin trade but market underpinned by good export data.

CBOT-SOYOIL - January up 0.38 cent at 38.46 cents per lb. Rallying crude oil market provides strength to soyoil.

FCPO-KUALA LUMPUR, Dec 24 (Reuters) - Malaysian crude palm oil futures jumped 2.2 percent on Thursday, after three consecutive days of declines, as higher crude oil prices and a weaker U.S. dollar lifted the market.

The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled up 54 ringgit to 2,554 ringgit ($745) per tonne after going as high as 2,573 ringgit.

REGIONAL EQUITIES- BANGKOK, Dec 24 (Reuters) - Southeast Asian stock markets ended mixed on Thursday in a listless holiday-trading session, with Singapore falling back from a more than one-year high and Thailand easing off from its highest in two months.

Singapore's benchmark Straits Times Index <.FTSTI> edged down 0.14 percent after a two-day rise, weighed down by casino operator Genting Singapore and shopping mall operator CapitaMalls , which each dropped almost 1 percent.

Malaysia's index <.KLSE> was up 0.3 percent, led by a 2.1 percent surge in industrial gas provider Petronas Gas and a 3.6 percent climb in pay-TV operator Astro All Asia Networks.

NYMEX Crude Weekly: Sideways bias


Market continue to gain some ground to stay firm above USD70.00. Thus, market is likely to move sideways bias to trade in between USD82.00 to USD68.00 in near term. Violation of either one may give us more clearer direction.

CBOT Soyoil Weekly: Nothing much changes


Nothing much changes as immediate technical landscape remains in consolidation mode. Thus, we continue to look for the upside resistance at USc41.40 and downside support is lies at USc37.00-36.50.

FCPO Weekly: Looking good


Market looks has found its immediate base support at around 2480 levels after defended well for straight three weeks. We maintain our view to move sideways to bias upside potential in near term with upside resistance looking at 2628 followed by 2650. While, downside support is pegged at 2480 followed by 2428-2419 (left over gap on 29/11/2009).