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KLSE : PERISAI       PERISAI PETROLEUM TEKNOLOGI
Last Price Avg Target Price   Upside/Downside Price Call
0.07 0.19     +0.12 (171.43%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
13/10/2016 0.065 0.05 -0.015 (23.08%) SELL KENANGA Price Target News
04/10/2016 0.125 0.11 -0.015 (12.00%) SELL KENANGA Price Target News
13/09/2016 0.15 0.16 +0.01 (6.67%) SELL KENANGA Price Target News
25/08/2016 0.19 0.24 +0.05 (26.32%) HOLD MAYBANK Price Target News
25/08/2016 0.19 0.16 -0.03 (15.79%) SELL KENANGA Price Target News
25/08/2016 0.19 0.205 +0.015 (7.89%) HOLD HLG Price Target News
22/08/2016 0.22 0.23 +0.01 (4.55%) SELL TA Price Target News
22/08/2016 0.22 0.26 +0.04 (18.18%) HOLD KENANGA Price Target News
22/08/2016 0.22 0.225 +0.005 (2.27%) HOLD HLG Price Target News
08/08/2016 0.23 0.24 +0.01 (4.35%) HOLD MAYBANK Price Target News


Price Target Research Article/News (past 6 months)
13/10/2016  KENANGA Perisai Petroleum Teknologi - PN17 Status
04/10/2016  KENANGA Perisai Petroleum Teknologi - Not Out of the Woods Yet
13/09/2016  KENANGA Perisai Petroleum Teknologi - Seeking Debt Consent Solicitation
25/08/2016  MAYBANK Perisai Petroleum - 1H16 in line
25/08/2016  KENANGA Perisai Petroleum Teknologi - 2Q16 Hit By Weaker FPSO Earnings
25/08/2016  HLG Perisai Petroleum - Road getting bumpier
22/08/2016  TA PERISAI - FPSO Kamelia Receives Extension
22/08/2016  KENANGA Perisai Petroleum Teknologi - Time is Running Out
22/08/2016  HLG Perisai Petroleum - Extension on FPSO Kamelia
08/08/2016  MAYBANK Perisai Petroleum - Addressing short-term challenges



  31 people like this.
 
Inspired12 petronas buying perisai?
13/01/2017 22:43
MrRoy Buying perisai is like digging shit at shit hole.. Imagine hand put at shit then take it to smell.. Only u all do like that..
14/01/2017 12:32
OtakQ Hahaha! There are no idiots nor geniuses here but a dog shit digger found !
14/01/2017 14:50
King Kong73 Mr Roy haha...u are worried about us buying perisai is it...u are a good guy..so nice...now piss off...haha
15/01/2017 15:45
arcadicus come on... drop somemore lar....
16/01/2017 16:45
arcadicus q @6c...hehehehe
16/01/2017 16:45
juzaguy Any news on debt restructuring?
16/01/2017 17:11
wlun85 Anyone still holding PERISAI??
16/01/2017 22:26
JN88 Many people still holding perisai. If not will be delisted.
16/01/2017 22:34
albertwarrior Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed.
17/01/2017 13:09
albertwarrior Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it would adhere strictly to its commitment to cut output under the global agreement among oil producers including the Organization of the Petroleum Exporting Countries (OPEC) and Russia.
17/01/2017 13:11
Darren Lim when perisai only wake up
17/01/2017 15:54
StarBright me and few others holding perisai. any 8 news ah?
17/01/2017 15:58
King Kong73 I am holding only 60000 units
17/01/2017 19:19
King Kong73 Hoping these baby will go above 10sens soon
17/01/2017 19:20
juzaguy Let's see who is still holding perisai... I am still holding mine...
17/01/2017 20:09
juzaguy What is the tp for perisai
17/01/2017 20:12
albertwarrior Brent rebound to $56 and above
17/01/2017 21:15
albertwarrior The yuan rose to its highest level of 2017 on Tuesday afternoon as the US dollar weakened against all major currencies, 80 hours ahead of Donald Trump’s inauguration as the new US president.

The onshore yuan traded in Shanghai rose 0.62 per cent or 430 basis points to close at 6.8560 yuan per US dollar on Tuesday, the highest of the year and the strongest in a month.

Offshore yuan traded in Hong Kong rose to 6.8086 at 6:30pm on Tuesday, up 0.73 per cent from Monday, or 498 basis points. This is just shy of the year’s high of 6.7829 set on January 5.

The yuan’s surge came as Donald Trump lambasted the US dollar as too strong in an interview with the Wall Street Journal.

“Our companies can’t compete with them [Chinese companies] now because our currency is too strong. And it’s killing us.”

Jasper Lo, chief strategist of King International Futures, said the yuan strengthen alongside other major currencies amid strong selling pressure on the US dollar.

“The US dollar has risen substantially in the past two months after Donald Trump was elected as US president as many expects his policies would lead to more interest rate tightening and hence strengthen the US dollar. Some investors have started to take profits, which has led to the sharp fall of the US dollar against other currencies including the yuan,” Lo said.

Lo said an interest rate hike would be likely be delayed until after June.

“In addition, Trump’s trade policy against China has led to many worries about a global trade war. Many investors are now starting to sell the US dollar in favour of gold or other currencies,” he said.

“Currencies traders are also eyeing British Prime Minister Theresa May’s comments about Brexit in a speech later Tuesday night Hong Kong time. The pound may be volatile tonight,” he said.

On Tuesday, the pound bounced back 0.78 per cent to buy US$1.2138 at 6:30pm, after the currency fell to a 32-year low on Monday at US$1.2043, down 1.09 per cent on the day.

The Japanese yen and euro both rose to one -month highest against the US dollar on Tuesday. The yen traded at 113.26 yen per US dollar, up 0.83 per cent, which is the highest since mid November.

The euro also rose 0.58 per cent to US$1.0665, its highest since mid November.

Gold was also a safe heaven, Lo said as the price shot up more than 1 per cent US$1,213.80 per ounce on Tuesday.
17/01/2017 21:34
GM68 I am still holding holding perisai,
18/01/2017 16:52
juzaguy Can anyone share if there is any insight on the debt restructuring? when is the result going to come out?
18/01/2017 16:57
albertwarrior Write a comment..Trump Nominees: No More Mr. Nice Guy on Iran - Op-Ed

17 January 2017
18/01/2017 18:10
albertwarrior Write a commentNo going back on Iran nuclear deal, Rouhani warns Trump
17 January 2017
Middle East
18/01/2017 18:20
Darren Lim anyone hv news abt perisai. pls share n discuss
18/01/2017 19:54
MrRoy PN17 soon will be delisted..
19/01/2017 10:12
fighterfighter everyday 4pm huge sell. b carefull
19/01/2017 16:24
King Kong73 Umw ong will exit the rig business...good.for.perisai
19/01/2017 23:22
Darren Lim anyone planing to quit perisai share?
19/01/2017 23:24
19/01/2017 23:51
King Kong73 In march they are expected to get a new contract..so.i am holding on
19/01/2017 23:52
StarBright Hi bros
My take on this - Perisai share growth curtailed because of financing issue. 9 months to be regularised. Potential is there but the high risks is now. Buffet concept prevails here. Low price because of oil price, went into debt. But there's new upside development that favors it e.g.
20 JAN 2017
PERISAI (0047)
FAIR RANGE: 7.8 TO 9.2 (the MD sold 30 million shares this price in Q42016)
ENTRY: 7.0/7.5
Fair TP: 8.0/9.0
High TP: 10.5
CUT LOSS: 7.0
2. SEQUENCE OF EVENTS
28th October 2016- Bond holder seeks winding up of Perisai
24th December 2016 - Perisai Petroleum Teknologi Bhd has settled its US$43.03mil (RM192.56mil) dispute with Singapore-listed Emas Offshore Ltd (EOL), which will give it monies crucial for the success of its debt restructuring plan.
6th January 2017 - • PERISAI has received an extension from the Companies Commission of Malaysia (SSM) to hold its annual general meeting (AGM).
9th January 2017 - PERISAI has lost pilgrims’ fund Lembaga Tabung Haji as its substantial shareholder after the latter disposed of 10.3 million shares on Dec 29, 2016.
13th January 2017 - • PERISAI and its wholly-owned subsidiary Perisai Capital (L) Inc have been granted a restraining order by the High Court against all proceedings and actions brought against the two companies.

Company Profile and People http://quotes.wsj.com/MY/PERISAI/company-people
20/01/2017 09:14
juzaguy King kong73, where did u hear about the project that Perisai going to get in March? Mind to share?
20/01/2017 16:35
albertwarrior Oil prices rose about 2 percent on Friday on expectations that a weekend meeting of the world's top oil producers would demonstrate compliance to a global output cut deal.
A weekend meeting in Vienna of members of the Organization of the Petroleum Exporting Countries and some producers outside of the group, including Russia, will establish a compliance mechanism to verify producers are sticking to a deal to reduce output by 1.8 million barrels per day (bpd), OPEC's secretary general told Reuters.
Saudi Arabia's energy minister said that 1.5 million bpd had already been taken out of the market, adding to signs that the oil market is rebalancing.
"The petroleum markets are moving higher in Friday trade on the latest round of positive talk about how much supply oil producers have taken offline ahead of Sunday's review by OPEC and non-OPEC representatives in Vienna," Tim Evans, Citi Futures' energy futures specialist, said in a note.
21/01/2017 08:09
albertwarrior Big spending is back in the oil and gas world. With ExxonMobil unloading a $6.6 billion mega-buy in the Permian Basin of Texas this week — just a day after Noble Energy unveiled a $2.7 billion acreage purchase in the same play.

In fact, new data from Evaluate Energy shows that petro-M&A hit a high in Q4 2016. With oil and gas buyouts totalling just under $60 billion during the quarter — by far the highest since Q2 2015, a quarter that was skewed by Shell’s $50 billion acquisition of BG Group. Check out the chart below.
http://cdn.oilprice.com//images/tinymce/Forest2001A.png
21/01/2017 08:15
fighterfighter downtrend is more than 10 days. and volume also being reducing. so it is very obvious. and shark is keep selling. game is finish for this counter
21/01/2017 09:29
B4b4 Perisai all set to go UP!
21/01/2017 17:20
MrRoy Yup.. No hope.. Winding up.. TH Heavy is a better bet for oil services sector..
23/01/2017 08:21
amet2017 Aiyo you come here say thhe better hope. Over there in thhe you say diferent thing. Next time take some time before commenting. Otherwise your comment will line up and kantoi la bro.
23/01/2017 09:02
fighterfighter shark start throw d. the shark got throw pattern...eat abit 75.. fhen throw 70 kuat kuat.....
23/01/2017 10:10
fighterfighter lets c together. around 4pm. huge sell again. too obvious !!!
23/01/2017 15:53
chpu2001 the problem is shark eat 75 but can't throw at all, becos no support at the bottom.
23/01/2017 17:53
chpu2001 all small fishes run away, except a few already trapped, that why shark is idle for the past ten days.
23/01/2017 17:54
albertwarrior Last week, oil prices traded positive by 0.1 percent to close at $52.4 per barrel, while MCX oil rose by 1.2 percent in the same time frame. The International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect.
OutlookWe expect oil prices to trade higher as trend remains positive on output cuts by the OPEC nations while comments from IEA about the tightening oil market also adds push to oil prices. On the MCX, oil prices are expected to trade higher today, international markets are trading higher by 0.1 percent at $53.29 per barrel.
23/01/2017 21:11
albertwarrior The U.S. dollar index (DXY), which measures the greenback’s strength against a basket of six major currencies, is lower in today’s trading, currently holding near 100.40, down 0.41% from Friday’s close.

The dollar reacted negatively to Donald Trump’s inauguration speech, as investors had hoped for more details on his plans for tax reform and fiscal spending plans.

As a result of today’s move to the downside, the dollar is now testing the reaction low established on January 17 at 100.26. Today’s low, by comparison, stands at 100.21. A sustained drop below this level would leave the target at the lower boundary of the falling trend channel that has encompassed price action since the beginning of the year. That lower boundary stands near 99.50, which is in the same vicinity as the corrective bottom established December 8 at 99.43.

A decline below this level would leave the target at the November reaction low at 95.89. The dollar has, thus far, retraced nearly 50% of the advance from the November low, a move that was triggered by the election of Donald Trump as the next US President.

Oversold conditions are now a factor for the dollar. Therefore, a period of consolidation or rebound could develop over the near term prior to a further move lower below support. Resistance is at the January 19 high at 101.73, which corresponds to upper boundary of the falling trend channel, as well as the Index’s converging 20 and 50-day moving averages. A sustained breakout from the trend channel is not expected merely in reaction to the oversold condition.

The latest Commitment of Traders report from the CFTC revealed that large speculators continue to trim long holding of US dollar futures, as long positioning declined by 3,629 contracts while short positioning increased by 377 contracts. The current net positioning of large speculators stands at 49,122 long contracts, which represents the second consecutive weekly reduction in long positioning.

In the U.S., there are no economic reports being released today. However, President Trump will speak at 13:30 ET. On Tuesday, Existing Home Sales is on the calendar at 10:00 ET. Jobless claims, the Trade Balance, Leading Indicators and New Homes Sales are due Thursday. On Friday, U.S. preliminary Q4 GDP is due along with Durable Orders at 08:30 ET, followed by the University of Michigan Consumer Confidence Index at 10:00 ET.
24/01/2017 00:29
albertwarrior Crude oil prices will trade in the range between US$50 and US$60 a barrel this year, Russia’s Oil Minister Alexander Novak said on Sunday. The minister met with counterparts from Saudi Arabia, Kuwait, Qatar, Venezuela, Algeria, and Oman to discuss ways of monitoring the compliance of the signatories to the oil production cut deal from last November and December.

Novak also said that for now, everyone is compliant and that the January cut could be higher than the agreed 1.7 million barrels. If this rate of compliance continues, balance will return to the market by July and not later as initially expected, he said. This echoes Saudi Arabia’s Khalid al-Falih’s recent statement that the production cut would not need to be extended the initial six months.

At the Sunday meeting in Vienna, al-Falih and his counterparts from Algeria and Kuwait said that OPEC members were cutting deeper than initially agreed and have already taken 1.5 million barrels per day off the market, which is most of the agreed 1.8 million bpd.

Oil at US$60 is a dream for all producers, or at least it used to be last year, when there was a belief among OPEC members that U.S. shale producers could be neutralized at this price level and oil should not raise above it.
24/01/2017 13:50
albertwarrior Gold Hits 2-Mo. High On Safe-Haven Demand, Weak U.S. Dollar

Kitco News ,

Contributor

Opinions expressed by Forbes Contributors are their own.

(Kitco News) - Gold prices ended the U.S. day session moderately higher and hit a two-month peak Monday. The yellow metal was supported in part on safe-haven demand and a recently down-trending U.S. dollar index. February Comex gold was last up $10.60 an ounce at $1,215.60. March Comex silver was last up $0.153 at $17.185 an ounce.

The world marketplace is anticipating prompt action from the new Trump administration on this first full week of his U.S. presidency. Trump has promised fast moves on many fronts and that has traders and investors in many markets still a bit apprehensive, which is also bullish for safe-haven gold.

The U.S. dollar index traded lower to start the new trading week. There are early technical clues that the dollar index has put in a market top. Prices have been trending lower for three weeks.

The other key “outside market” on Monday saw Nymex crude oil prices trading weaker. OPEC and Russian oil officials said Sunday they are holding to their stated plans to reduce their collective crude oil output. However, there remains stiff technical chart resistance just above present crude oil prices.

There was no major U.S. economic data released Monday.

Technically, February gold futures prices closed near mid-range today. The gold bulls and bears are still on a level overall near-term technical playing field. Prices are in a five-week-old uptrend on the daily bar chart. That suggests prices can continue to trend sideways to higher in the near term. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,236.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,175.00. First resistance is seen at today’s high of $1,219.40 and then at $1,225.00. First support is seen at today’s low of $1,209.00 and then at $1,200.00. Wyckoff's Market Rating: 5.0

March silver futures prices closed near mid-range. The silver market bears have the slight near-term technical advantage. However, prices are in a five-week-old uptrend on the daily bar chart. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at $18.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $16.50. First resistance is seen at last week’s high of $17.36 and then at $17.50. Next support is seen at $17.00 and then at $16.84. Wyckoff's Market Rating: 4.5.

March N.Y. copper closed up 210 points at 264.60 cents today. Prices closed near mid-range. The copper bulls have the overall near-term technical advantage. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the November high of 275.30 cents. The next downside price objective for the bears is closing prices below solid technical support at 250.00 cents. First resistance is seen at today’s high of 266.80 cents and then at the January high of 271.60 cents. First support is seen at today’s low of 261.30 cents and then at 260.00 cents. Wyckoff's Market Rating: 6.5.
24/01/2017 13:56
albertwarrior Gold ends near 10-week high in Trump era as dollar wobbles

Gold prices marked their highest finish in nearly 10 weeks Monday on the back of a decline in the U.S. dollar and uncertainty for trade and economic growth at the start of Donald Trump’s presidency.

Gold for February delivery GCG7, +0.02% climbed $10.70, or 0.9%, to settle at $1,215.60 an ounce. Prices, which gained in each of the past four weeks, scored the highest settlement since Nov. 17, according to FactSet data.

March silver SIH7, -0.01% added 15.4 cents, or 0.9%, to $17.186 an ounce, building on its 1.6% weekly gain from last week.

“We believe that gold is finding support from the weaker U.S. dollar, which depreciated noticeably following the inaugural speech given by the new U.S. President Donald Trump [on Friday] and is trading at a 6 ½-week low against the euro this morning,” said Carsten Fritsch and the commodities team at Commerzbank, in a note.

Read: How gold tends to perform in presidential inauguration years

The euro EURUSD, -0.1300% was trading up 0.3% versus the U.S. dollar Monday. The ICE U.S. Dollar Index DXY, +0.18% which gauges the greenback against six currencies, fell 0.4% to 100.30 Monday.

Yields on 10-year U.S. Treasury notes TMUBMUSD10Y, -0.34% have also fallen sharply after having risen for a time, although they were mostly flat on Monday. Bond prices move in the opposite direction of yields. But selling pressure over the past several trading sessions resulted in the first weekly rise in Treasurys in a month last week, accounting for some of the gain in gold which doesn’t bear a yield.

In addition to its haven status, gold tends to move inversely to the dollar because a stronger greenback can make commodities pegged to the buck, including metals, more expensive to buyers using other monetary units.

“By the end of last year, markets had priced Trump to perfection and were getting way too complacent about political risk,” said Colin Cieszynski, chief market strategist at CMC Markets.

“Gold has been trending back upward as traders increasingly recognize from the size of protests to spats over the size of the crowd at the inauguration to questions over whether Trump is going to rip of Nafta and/or TPP [Trans-Pacific Partnership] before or after talking with trade partners,” he said. “That the road ahead could be a lot bumpier than traders had been thinking.”

Read: How a Trump ‘threat to world order’ could play out for stocks

After Cieszynski’s comments, Trump signed an executive order stopping U.S. involvement with the TPP.

On Monday, other Comex metals settled higher, with the exception of palladium, which pulled back after a rally late last week.

March palladium PAH7, +0.35% fell $16.90, or 2.1%, to $771.50 an ounce. Palladium rose 5% on Friday, finding support from a “very strong outlook for continued strong global auto sales in 2017,” said Maxwell Gold, director of investment strategy at ETF Securities, on Friday.

April platinum PLJ7, +0.58% tacked on $3.90, or 0.4%, to $979.90 an ounce, while March HGH7, +0.26% added 2.3 cents, or 0.9%, to $2.648 a pound.

Among exchange-traded funds, the SPDR Gold Trust GLD, +0.64% rose 0.7%. The iShares Silver SLV, +0.62% rose 0.5% and the VanEck Vectors Gold Miners ETF GDX, +2.98% added 2.4%.
24/01/2017 13:58
albertwarrior President-Elect Trump Boosts Gold by Saying That U.S. Dollar Is Too Strong

Once again, president-elect Donald Trump scared investors away. During an interview with Wall Street Journal, he said that the actual value of the U.S. Dollar is a problem, making the economy less competitive against the Chinese and its more affordable currency.
“Our companies can’t compete with them [Chinese companies] now because our currency is too strong. And it’s killing us,” said Trump during this new, infamous episode for the economy. These comments were powerful enough to draw back the attention and making investors to rethink their strategies.
The Initial Boost
Here is what is more amusing about the recent comments made by the president-elect. After his victory in November, the U.S. Dollar reached 13-year highs. During his entire campaign, he promised a massive, multi-billion investment on infrastructure. This promise alone, if materialized, could boost the domestic economy, put pressure on the FED to make several interest rate hikes, and increase exponentially the value of the currency.
Trump also talked, quite frequently, about making important tax cuts. Again, if materialized, the U.S. economy, suffocated from time to time because of taxes, would experience growth at a faster pace.
The fact that Trump has won the election was, for a good amount of investors, a synonymous of a strong greenback. But now, with the recent declarations, we can say that the president-elect is planning to devaluate the currency in order to become more competitive against China. This scenario may result death-scary to investors, now forced to look away.
Winning Currencies
It’s needless to say that these declarations were negative for the U.S. Dollar performance. Many major currencies over-performed the Dollar shortly after. On Monday, the British Pound rose US$1.2342, representing a 2.5 percent high and a record-breaking rise against the U.S. currency.
The Japanese Yen also went up, hitting a 6-week high of 112.74 against the Dollar. The Euro was silent and only went up to $1.07 against the Dollar, representing a small 0.6 percent in comparison with other prominent performances.
Backlash in Favor of Gold
But many investors didn’t choose other currencies in order to escape from the U.S. Dollar and stocks. Instead, the yellow metal was chosen as the classic safe haven asset, just like it’s supposed to be.
Gold was already gaining back some ground but Trump’s announcements were especially helpful. The precious metal hit $1,213 per troy ounce, which represents the highest price in the past eight weeks.
Mr. Richard Xu, who is the fund manager at HuaAn Gold, one of the biggest gold exchange-traded funds in China, told Reuters that “Gold is going to do very well in the first half of the year due to Brexit concerns, Chinese currency pressure and uncertainty surrounding Donald Trump’s policies.”
24/01/2017 13:59
albertwarrior he dollar wallowed near seven-week lows in Asian trade on Tuesday, pressured by concerns about the impact of U.S President Donald Trump's protectionist trade stance.

The dollar index, which tracks the greenback against a basket of six major peers, slipped 0.1 percent to 100.040 .DXY, after falling to 99.899 on Monday, its lowest since Dec. 8.

The dollar was up 0.1 percent at 112.84 yen JPY= but notched a low of 112.52 earlier in the session, its weakest since Nov. 30, and well below its overnight high of 114.45.

Trump formally withdrew the United States from the now 11-nation Pacific Rim Trans-Pacific Partnership (TPP), distancing America from its Asian allies. He has also said he intended to renegotiate the NAFTA free trade agreement between the United States, Canada and Mexico.

"The market doesn't like this increased protectionist stance. For now, at least, it's reassessing the impact of that relative to the pro-investment stance that drove the U.S. dollar higher," said Sue Trinh, head of Asia FX strategy at Royal Bank of Canada in Hong Kong.

"It's now just watching and waiting, with headline risk, to see Trump's first 100 days as we get greater clarity around his policies and around his cabinet, all of these are likely to inject greater volatility into the market," she said.

Lower U.S. Treasury yields also undermined the dollar. The benchmark 10-year yield posted its biggest one-day drop in more than two weeks as concerns about the fallout of Trump's tough stance on trade spurred safe-haven demand for bonds.

"We saw dollar weakness in conjunction with those falling yields, and it led to a strengthening of the yen," said Bill Northey, chief investment officer of the private client group at U.S. Bank in Helena, Montana.

"Much of it was based on non-economic news. We saw the U.S., through executive action, withdraw from the TPP, which brings up some broader questions about the degree of trade protectionism that we might see out of the new administration," he said. "That certainly played into today's activity."

Trump's nominee for Treasury Secretary Steven Mnuchin was quoted by Bloomberg as saying that an excessively strong dollar was negative in the short term, which put additional pressure on the dollar.

Mnuchin has told senators that he would work to combat currency manipulation but would not give a clear answer on whether he currently views China as manipulating its yuan, according to a Senate Finance Committee document seen by Reuters on Monday.

China's yuan firmed against the dollar on Tuesday after the central bank fixed the official yuan midpoint CNY=PBOC at the strongest level in more than two months, in the wake of the dollar's broad slide.

Also adding to investors' risk-averse mood, the Trump administration vowed on Monday that the United States would prevent China from taking over territory in international waters in the South China Sea, something Chinese state media has warned would require Washington to "wage war".
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The euro edged down 0.1 percent to $1.0754 EUR=, after earlier touching $1.0774, its strongest level since Dec. 8.

The dollar's weakness gave an additional lift to sterling, which scaled six-week peaks as investors bet Britain's Supreme Court would rule later on Tuesday that the government needs parliamentary approval to trigger formal talks about the country's exit from the European Union.

The pound was slightly lower on the day at $1.2520 GBP= after earlier touching $1.2538, its loftiest level against the dollar since Dec. 15.
24/01/2017 13:59
albertwarrior Oil steady on OPEC cuts, US output recovery
29 Mins Ago
Reuters
An oil pump jack in the oil town of Gonzales, Texas.
Getty Images
An oil pump jack in the oil town of Gonzales, Texas.
Oil prices were steady on Tuesday as news of lower production by OPEC and other key exporters was balanced by reports of more drilling and higher output in the United States.
Benchmark Brent crude was up 7 cents at $55.30 a barrel by 7:53 a.m. ET (1253GMT), while U.S. light crude rose 10 cents to $52.85.
24/01/2017 21:25


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