Previously 0.135. Now 0.14~0.15

The boss malas. Share price malas nak goreng. Dividend malas nak bagi. Website malas nak update. Hanya gaji nak naik Sahaja.

psiptek nta increase from 0.58 to 0.59

Perisai nta was increase from 0.29 to 0.34. Tomorrow price may shoot to 0.10 and above.

From the result, Monday perisai price will skyrocketing.

Benchmark Brent crude oil was up $1.22 a barrel, or 2.2 percent, at $57.06 by 11:04 a.m. ET (1604 GMT), recovering from a drop of 82 cents on Wednesday.

U.S. light crude rose $1.20, or 2.2 percent to $54.79 a barrel, near its 2017 high of $55.24. It fell 74 cents in the previous session.

Both benchmarks are near the top of relatively narrow $4 ranges that have contained trade so far this year, reflecting a period of low volatility since the Organization of the Petroleum Exporting Countries and other exporters agreed to cut output.

OPEC and producers including Russia aim to reduce production by around 1.8 million barrels per day (bpd) in an attempt to drain an oversupply that has kept prices depressed for more than two years.

Brent reached $57 and above.

buying share like playing slot machine. When people loss in the slot machine, is your opportunity to win the game slot. hope more seller dump the share, than win the game

Expect Crude Oil prices to trade higher today: Angel Commodities
22 Feb 2017 12:16 PM | Source: Moneycontrol.com
Share:
Expect Crude Oil prices to trade higher today: Angel Commodities
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Angel Commodities' report on Crude Oil

WTI oil prices rose by more than 1 percent in the international markets after touching three-week highs on Tuesday on OPEC's optimism for greater compliance with its deal with other producers including Russia to curb output in an effort to clear a glut that has weighed on the market.
Outlook
We expect oil prices to trade higher continuing its positive momentum from the previous trading session, while comments from OPEC members regarding compliance of production cuts remain positive for oil markets. On the MCX, oil prices are expected to trade higher today, international markets are trading higher by 0.3 percent at $54.50 per barrel.

Brent rebounded to $56.29/barrel

Aaron Sheldrick | TOKYO
Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year.

U.S. West Texas Intermediate crude CLc1 was up 31 cents, or 0.6 percent, at $53.71 a barrel at 0218 GMT (9:18 p.m. ET on Monday), after rising about 0.5 percent in a shortened session on Monday due to a U.S. national holiday.

Brent futures LCOc1 gained 6 cents, or 0.1 percent, to $56.24 a barrel, after ending the previous session up 0.7 percent.

Investors now hold more crude futures and options than at any time on record, after members of the Organization of the Petroleum Exporting Countries (OPEC) committed last year to cut production.

Speculators raised their bets on a rally in Brent oil prices to a record last week, data from the InterContinental Exchange showed on Monday, mirroring the optimism in the U.S. crude market. [O/ICE]

Data on Friday showed net long U.S. crude futures and options positions in the week to Feb. 14 were at a record.[CFTC/]

"As bullish positioning by hedge funds continues to push on in unchartered territory, the risk of a swift, sharp snapback in prices continues to build," ClipperData analyst Matt Smith said in an overnight note.

"Especially given the bearish backdrop of record crude and gasoline inventories amid lower fuel demand year-on-year," he added.

KLSE index break 1700 and above.

bursa malaysia index break I700 pts and above.

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Oil and gas discoveries dry up to lowest total for 60 years
Companies are putting a brake on exploration and large fields are harder to find

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12 HOURS AGO by: Ed Crooks in New York and Andrew Ward in London
Discoveries of new oil and gasfields have dropped to a fresh 60-year low, as companies put a brake on exploration and large fields have become harder to find. 

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There were only 174 oil and gas discoveries worldwide last year, compared to an average of 400-500 per year up until 2013, according to IHS Markit, the research group. 

The slowdown in exploration success shows that the world is likely to become increasingly reliant on “unconventional” resources such as US shale oil and gas to meet demand for energy in future decades. 


The typical time from discovery to production is five to seven years, so a shortfall in oil and gas discoveries now implies tighter supplies in the next decade. 

However, there are signs of a tentative upturn in conventional exploration this year, with some companies including Statoil of Norway planning to step up drilling activity. 

Discoveries hit a six-decade low in 2015, and then dropped again last year to about 8.2bn barrels equivalent of oil and gas.

The slowdown reflects both the cyclical cuts in exploration made by companies struggling to stay afloat after the drop in oil and gas prices since 2014, and the structural shift in the industry towards onshore shale and similar reserves, especially in North America. 

Most frontier exploration is now offshore, where a single well can cost $150m, and the success rate for “wildcat” wells has been about one in five. 


Spending on exploration fell from $100bn in 2014 to $40bn last year, according to Wood Mackenzie, another research company.

Chevron of the US cut its exploration budget from $3bn in 2015 to $1bn per year in 2016-17, and ConocoPhillips is pulling out of deep water exploration altogether. 

The discoveries of new fields compare to 190bn barrels equivalent of oil and gas that have been added to the estimated resource base of North America over the past 10 years, thanks to advances in technology that have made production possible from shale and other similarly challenging “tight” rocks. 

A shale well onshore can cost $4m-$10m and be brought into production in weeks, as opposed to five or more years for deepwater discoveries. Bob Fryklund of IHS Markit said: “We’re solving the problem through tight rocks.” 

However, Wood Mackenzie expects a modest upturn in exploration activity this year, forecasting that more than 500 wells will be drilled globally in 2017, compared with 430 in 2016. 

Wells planned by ExxonMobil in Guyana, Eni in Italy, Statoil in the Barents Sea, and in Mauritania by Kosmos Energy and its new partner BP were among those with high potential for making a discovery, it added. 


Andrew Latham, head of global exploration research at Wood Mackenzie, said that lower daily rates for drilling rigs and other savings were allowing companies to achieve more for less money. 

“If you look at what they are spending, it looks very cautious. But if you look at the bang they are getting for their bucks, it is much more optimistic,” he said. 

He warned that, with exploration opportunities more plentiful than the available capital, there would be fierce competition for investment. “Countries that are overly harsh on their fiscal framework will not attract investment, because companies have choices.” 

The world’s two largest discoveries of the year were both in the US: Caelus Energy’s discovery at Smith Bay in shallow water off the north coast of Alaska, which could hold up to 4bn barrels of recoverable oil, and ConocoPhillips’ Willow discovery, which is also in Alaska but onshore, and is estimated to hold 300m barrels. 

Other large finds last year included discoveries of large offshore gasfields by Kosmos Energy in Senegal and Cobalt International Energy in Angola. 

In another sign of the challenges facing exploration today, most of the frontier discoveries in recent years have tended to open up smaller regions, rather than large new areas like the offshore fields of Brazil. 

The most recent giant basin to be opened up was the Zohr gasfield found in Egypt by Eni in 2015.

All this data suggests that, despite the increase in the US production, oil prices still have strong potential to extend their recent gains, mainly due to the processing capacity of US refiners massively exceeding the current levels of crude extraction. The lack of proper infrastructure, such as DAPL and Keystone, is also supporting further gains in oil prices.
Moreover, the Trump-proposed economic reforms in the US, gains in the post-Brexit UK manufacturing, and the recent stabilization in mainland China's growth are all factors supportive of a more expensive oil in the near-to-medium-term.

Chinese currency has appreciated less than most against dollar
Fall against trade-weighted basket boosts competitiveness

Here's How China Got Its Yuan in a Sweet Spot
China has got the yuan in a sweet spot.

The nation’s authorities have let the currency rise enough against the U.S. dollar to put a spanner in President Donald Trump’s assertion that China deliberately undervalues its exchange rate. At the same time, it has weakened against a trade-weighted basket of currencies, giving China a competitive edge in exports.


This “honeymoon” for the yuan will likely last in the near term as the dollar continues to weaken before the outlook for U.S. fiscal stimulus clarifies, according to Zhong Zhengsheng, managing director of Beijing-based research firm CEBM Group Ltd. “The most likely scenario is that the yuan will remain stable or rally against the dollar, while it silently depreciates versus a basket of exchange rates,” he wrote in a Feb. 6 note.


China’s typical stance during periods of a weakening dollar -- letting the yuan strengthen against the greenback, though less than its peers -- has extra significance now because of Trump’s threats to label the country a currency manipulator. Earlier this month, the president’s pick as ambassador to China, Terry Branstad, said the yuan has been stronger than Trump anticipated.

Trump administration officials’ comments so far offer little clarity on whether China will officially be dubbed as a currency manipulator in the Treasury Department’s semiannual foreign-exchange report, due in April.

The yuan has gained about 1 percent against the U.S. dollar since the start of the year, following a drop of about 4 percent in the fourth quarter. American officials focus on the yuan’s performance against the dollar rather than the currency basket as they look at U.S.-China trade, which is settled in dollars or yuan, said Standard Chartered Plc foreign-exchange strategist Eddie Cheung.


The yuan’s rise against the dollar pales with major emerging market currencies such as the Korean won, which leads the pack with a year-to-date gain of 5.3 percent. It was a different story in the fourth quarter, when the dollar enjoyed broad strength against most currencies. The won slid 8.8 percent over those three months.

The won was among the additions to the yuan’s trade-weighted currency basket at the start of this year. The revamp changed the makeup of the reference group, which now has a lesser weighting for the dollar. A Bloomberg replica version of the CFETS RMB Index has fallen 1.2 percent since the year began, even as the yuan rose against the dollar.


More on the currency basket: China downgrades dollar’s prominence

For the next several weeks, the yuan may enjoy a run of stability in the run-up to the annual gathering of the nation’s legislature in March, according to Standard Chartered’s Cheung.

“Policy makers will try to prevent large volatility in the yuan in February and March, because they wouldn’t want the currency to be the market’s focus during the National People’s Congress,” Cheung said.

— With assistance by Tian Chen, and Will Davies

Chinese currency has appreciated less than most against dollar
Fall against trade-weighted basket boosts competitiveness

Here's How China Got Its Yuan in a Sweet Spot
China has got the yuan in a sweet spot.

The nation’s authorities have let the currency rise enough against the U.S. dollar to put a spanner in President Donald Trump’s assertion that China deliberately undervalues its exchange rate. At the same time, it has weakened against a trade-weighted basket of currencies, giving China a competitive edge in exports.


This “honeymoon” for the yuan will likely last in the near term as the dollar continues to weaken before the outlook for U.S. fiscal stimulus clarifies, according to Zhong Zhengsheng, managing director of Beijing-based research firm CEBM Group Ltd. “The most likely scenario is that the yuan will remain stable or rally against the dollar, while it silently depreciates versus a basket of exchange rates,” he wrote in a Feb. 6 note.


China’s typical stance during periods of a weakening dollar -- letting the yuan strengthen against the greenback, though less than its peers -- has extra significance now because of Trump’s threats to label the country a currency manipulator. Earlier this month, the president’s pick as ambassador to China, Terry Branstad, said the yuan has been stronger than Trump anticipated.

Trump administration officials’ comments so far offer little clarity on whether China will officially be dubbed as a currency manipulator in the Treasury Department’s semiannual foreign-exchange report, due in April.

The yuan has gained about 1 percent against the U.S. dollar since the start of the year, following a drop of about 4 percent in the fourth quarter. American officials focus on the yuan’s performance against the dollar rather than the currency basket as they look at U.S.-China trade, which is settled in dollars or yuan, said Standard Chartered Plc foreign-exchange strategist Eddie Cheung.


The yuan’s rise against the dollar pales with major emerging market currencies such as the Korean won, which leads the pack with a year-to-date gain of 5.3 percent. It was a different story in the fourth quarter, when the dollar enjoyed broad strength against most currencies. The won slid 8.8 percent over those three months.

The won was among the additions to the yuan’s trade-weighted currency basket at the start of this year. The revamp changed the makeup of the reference group, which now has a lesser weighting for the dollar. A Bloomberg replica version of the CFETS RMB Index has fallen 1.2 percent since the year began, even as the yuan rose against the dollar.


More on the currency basket: China downgrades dollar’s prominence

For the next several weeks, the yuan may enjoy a run of stability in the run-up to the annual gathering of the nation’s legislature in March, according to Standard Chartered’s Cheung.

“Policy makers will try to prevent large volatility in the yuan in February and March, because they wouldn’t want the currency to be the market’s focus during the National People’s Congress,” Cheung said.

— With assistance by Tian Chen, and Will Davies

KUALA LUMPUR : Global crude oil prices are expected to recover to US$65 per barrel by end-2017, says OCBC Bank.

According to the regional financial institution, global oil prices appeared to have found some footing with the OPEC production cut deals holding up thus far.

The rebound in crude oil prices was expected to support the ringgit's exchange rate and Malaysia's economy.

"Since oil price slump of previous years was one factor affecting the ringgit's exchange rate, it is logical yo expect the same pattern to hold on the flip side now that oil price is recovering," OCBC Bank said in its 2017 Economic Outlook presentation here today.

It pointed out that in tandem with recovering oil prices, other commodity prices had also moved higher. This should provide added stability for Asia.

"In Malaysia, for instance, the recovering commodity prices have been offering the economy some support. It also occurs at a time when domestic consumption has stayed encouragingly robust due to helpful employment and wage trajectories.

“On the external front, we have also seen an uptick in export numbers that are helped by the commodity rebound as well as a pick-up in electronics exports," OCBC Bank explained.
Read more at http://www.thestar.com.my/business/business-news/2017/02/07/ocbc-bank-sees-crude-oil-rising-to-us$65-by-end-2017/#cBr3tY8VMeaF8rxa.99

Oil futures

Hedge funds make record bet on rising oil prices
Investors back Opec’s supply cuts and seek protection against risk of inflation
Apache Corporation, Brent Briscoe with crude processing equipment at central tank farm Adair San Andreas Unit, Welch, TX.

February 6, 2017 6:34 pm by Anjli Raval and Dan McCrum in London
Hedge funds have amassed the biggest ever bet on rising oil prices as investors back Opec’s bid to tighten the crude market and seek protection against fears of inflation.

Data from regulators and exchanges showed speculators have built long positions equivalent to almost 1bn barrels of crude across the major contracts, while short positions amount to just 111m barrels.

This one-sided bet has left speculative investors holding a record net long position — the difference between bets on rising and falling prices — in Brent crude and West Texas Intermediate futures and options contracts equivalent to 885m barrels by January 31.

That massive paper position is equal to just over nine days of global oil demand, and has prompted some traders to express concern prices could fall if funds move to take profits by selling positions en masse.

But the record oil bet, which investors have increased while prices have held relatively steady since the start of the year, could also point to the involvement of large macro funds. These sometimes trade oil as a hedge against moves in other sectors.

Markets are also focused on the impact of policies under Donald Trump as Opec producers and allies such as Russia have cut oil output as part of a deal to curb supplies and raise prices.

Our question is why are prices not higher

Hedge fund manager
The US president’s plans for lower taxes, deregulation and increased infrastructure spending has fostered confidence in US economic growth, but also stoked concerns about inflation — which sometimes leads fund to buy oil as protection against rising costs.

Richard Robinson, manager of the Global Energy Fund at Ashburton Investments, said: “Energy is probably the only commodity which gives you a real hedge against unexpected inflation.”


Oil futures are attractive to European investors concerned about inflation because they are widely traded and provide portfolios with exposure to both the potential for higher commodity prices and a stronger dollar.


Still, other investors see reasons more directly linked to oil’s output behind the surge in funds’ crude buying.

By Henning Gloystein | SINGAPORE
Oil prices edged up on Monday on fears that new U.S. sanctions against Iran could be extended to start affecting crude supplies, but markets were capped by further signs of growing U.S. production.

Tensions between Tehran and Washington have risen since a recent Iranian ballistic missile test which prompted U.S. President Donald Trump's administration to impose sanctions on individuals and entities linked to the Revolutionary Guards.

Brent crude futures, the international benchmark for oil prices, were trading at $56.86 per barrel at 0037 GMT, up 5 cents from their last close.

U.S. West Texas Intermediate (WTI) futures were up 5 cents at $53.88 a barrel.

Traders said the strain between Tehran and the United States raised concerns that U.S. sanctions could be tightened further to impact Iranian oil exports, which were only allowed to return to normal last year.

"The move by the U.S. to impose new restrictions on Iran for testing a ballistic missile ... does raise the risk of further tensions disrupting supply," ANZ bank said on Monday.

DOW 20,071 +186.55 +0.94%
Home Markets U.S. & Canada Futures Movers
Oil prices up on production cuts, as U.S. imposes sanctions on Iran

Despite a recent OPEC agreement to cut oil production and boost prices, it is unrealistic to expect that the commodity will reach $65 a barrel in the near term, an analyst at the Paris-based International Energy Agency told CNBC.

OPEC countries reached an agreement last November to cut production by 1.2 million barrels per day to support oil prices and tackle three-consecutive years of falling investment. In early December, some non-OPEC countries, such as Russia, joined their efforts and promised to cut output by 600,000 barrels per day.

"I think 63, 65 (dollars a barrel for Brent) I think you might be a little bit ambitious there because the OPEC producers have got this basic issue, they don't want the price to go too low clearly, because their economies wouldn't stand it," Neil Atkinson, head of the oil industry and markets division, at the IEA told CNBC Friday.


If oil prices go too high, it’s detrimental to global economy: IEA
9 Hours Ago | 01:20

Despite a recent OPEC agreement to cut oil production and boost prices, it is unrealistic to expect that the commodity will reach $65 a barrel in the near term, an analyst at the Paris-based International Energy Agency told CNBC.

OPEC countries reached an agreement last November to cut production by 1.2 million barrels per day to support oil prices and tackle three-consecutive years of falling investment. In early December, some non-OPEC countries, such as Russia, joined their efforts and promised to cut output by 600,000 barrels per day.

"I think 63, 65 (dollars a barrel for Brent) I think you might be a little bit ambitious there because the OPEC producers have got this basic issue, they don't want the price to go too low clearly, because their economies wouldn't stand it," Neil Atkinson, head of the oil industry and markets division, at the IEA told CNBC Friday.
Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.
Spencer Platt | Getty Images
Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.

"But if the price goes too high then that's going to attract a lot of investment in other parts of the world, principally the U.S. shale producers," Atkinson added.

Saudis Raise March Crude Prices For All Customers

Saudi Arabia has raised the prices of all grades it will be shipping to Asia, the U.S., Northwest Europe and the Mediterranean countries, with prices for Asian buyers increased more than expected.

Saudi Arabia’s state-held oil giant Saudi Aramco is raising March prices for Arab Light crude to Asia by $0.30 to a premium of $0.15 to the regional Oman/Dubai benchmark, Bloomberg reported on Thursday, citing an e-mailed statement by the company.

A median estimate in a Bloomberg survey of six refiners and traders had pointed to Aramco raising the Arab Light official pricing to a premium of $0.10 over the Oman/Dubai benchmark, which many Middle East state oil companies use to price their crude grades bound for Asia.

The majority of traders surveyed by S&P Global Platts expected earlier this week Aramco to raise the March official selling price of Arab Light crude for Asia by $0.10-$0.20.
Ads by

Reuters trade sources had also expected a rise by at least $0.10 and up to $0.30 for the Arab Light.

Brent reached $57 and above.

据PSIPTEK’s ANNUAL REPORT 2015资料显示：

OUTLOOK AND PROSPECT
1。For the year of 2015, the economy advanced by 5.0%.
The outlook of the local construction industry remains
attractive on the back of the continued government
development policies that gives strong emphasis on a
slew of projects to help accelerate the growth of the
country economy.

2。As at 31st December 2015, the Group recorded a total
of RM534.28 million unbilled construction order book.

PSIPTEK remains committed and focused in its core
business. The Group has successfully secured a total
of RM326.25 million contracts during the financial year
and PSIPTEK is confident in securing some potential
construction projects in the coming future.

3。PSIPTEK maintains optimistic of its property
development division especially the demand of medium
cost properties in Klang Valey, Penang and Johore is
still strong.

4。PSIPTEK is placing more emphasis towards the current
demand for the “Gated and Guarded” concept, affordable
pricing homes, eco friendly building materials and harmony
living environment.

Our landmark project, the highly acclaimed residential
project at Puncak 7, Shah Alam, with the overwhelming
hilltop view of the entire city has created the right aspiration
and interest of property connoisseurs.
Besides, the demand of the mixed development properties
developed by our subsidiary in Ayutthaya, Thailand has
been very encouraging.
As at 31st December 2015, PSIPTEK’s future property
development projects to be launched in Malaysia and
overseas market worth approximately RM547.22 million.

Property - Future Property Development Projects。

5。“As at 31st December 2015, the Group’s future property development projects to be launched in Malaysia and overseas market worth approximately RM547.22 million.“ sourcing from Annual Report 2015.
PSIPTEK current project Puncak 7 in Shah Alam Seksyen 7 is overwhelming with estimated GDV of RM180million, full take up rate, expected completion date of February 2018.
(FY2017 财政年-爆发净利）


6。*In future, PSIPTEK is expected to launch the property developed in Sri Gombak, Penang Batu Feringhi, Prins Bay and Thailand market with total GDV worth RM547million.

Construction: RM534million – RM122mil (figures from Q3 FYE2016) = RM412mil

7。The above figure has not added any contracts secured during year 2016.
Historically the contract awarded in year 2015 is RM326.25 million.
Expected the contract awarded in year 2016 to be in par with year 2015.

One-off Item Recorded in Q4 FYE2015.
8.PSIPTEK recorded a loss before taxation of RM1.17mil in Q4 FYE2015 due to written off of the damaged and obsolete machinery and equipment of RM3.03 million.
With the normalise adjustment, the Group could have reported a gain of RM1.86mil which is in par with the past three quarter results.
http://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7145


9。THE director’s confidence in PSIPTEK
Acquisition of shares.
The directors have acquired a lump sum of 83 mil shares priced at 18 cents.
Waiting the Intrinsic Share Price Value to reflect for them to realise their capital gain.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/2882057
http://www.bursamalaysia.com/market/listed-companies/company-announcements/2918081
http://www.bursamalaysia.com/market/listed-companies/company-announcements/2917449


Asset - Landbank
10。PSIPTEK has over 100 acres of undeveloped landbank, mainly in the Klang Valley.
This form partial of the NTA of RM0.57.
The NTA is at 78.07% discounted as per current closing price of RM0.125 ONLY.
(超过55%-60% of The NTA，只是少少的40% of The NTA，
PSIPTEK 的价位至少值22.5 cent ）


Forecast EPS for FYE2016 will be ranged at 1.8cents.
11。The share should be priced at PE of 11-15 at 20 cent – 25 cent
(目前的PE at 9.69x）
Bear in mind, PSIPTEK has been profitable for 6 consecutive years.

Write a comment..US Dollar challenges lows near 99.40
By Pablo Piovano
The greenback, when tracked by the US Dollar Index, is losing ground across the board on Thursday, now testing recent multi-week lows in the 99.40 area.

US Dollar weaker post-FOMC

The index faded yesterday’s eventually unsuccessful attempt too retake the psychological 100.00 handle, deflating to the current area near 99.40, levels last seen back in early November.

The FOMC meeting on Wednesday left no room for surprises, leaving the target rate of the Fed Funds unchanged while the statement showed no major changes. We have to assume then that uncertainty around ‘Trumponomics’ remains intact as well as the Committee’s forecast for three rate hikes this year.

Data as of late continued to reinforce the solid health of the US economy, although further clues regarding the timing and/or updated projections of the rates’ path should come from Fed speakers and the minutes in the upcoming weeks.

Data wise in the US, the usual report on the labour market is due along with Q4’s Non-farm Productivity and the Economic Optimism index measured by IBD/TIPP.

US Dollar relevant levels

The index is losing 0.24% at 99.45 facing the immediate support at 98.92 (61.8% Fibo of the Nov-Jan. up move) followed by 96.94 (low Nov.4) and then 95.91 (low Nov.9). On the other hand, a break above 100.06 (high Feb.1) would open the door to 100.42 (high Jan.31) and finally 101.02 (high Jan.30).

Iran Prepares to Ditch Dollar in International Trade

03:43 01.02.2017(updated 05:48 01.02.2017)
After US President Donald Trump included Iran on a list of Muslim-majority countries facing a temporary immigration ban, Tehran responded by threatening to stop using the American dollar.

Iran would either introduce a new common currency, in place of the US dollar, or use a portfolio of various currencies in foreign exchange and financial reports, according to Valiollah Seif, governor of the Central Bank of Iran.

Iraq's Prime Minister Haider al-Abadi
© AP PHOTO/ HADI MIZBAN
Iraqi Prime Minister Refuses to Retaliate Against Trump’s Travel Ban
Iranian media quoted Seif saying that the initiative would begin in March 2017, at the start of the fiscal year.

Trump signed an executive order on immigration last Friday, ostensibly to protect Americans from terror attacks. Under the order, immigrants from Iran, Iraq, Syria, Somalia, Libya, Sudan and Yemen will not be allowed to enter the US for 90 days. Additionally, the US refugee program is suspended for 120 days, and the acceptance of refugees from Syria is suspended indefinitely.

Trump told reporters, "It's working out very nicely…You see it at the airports. You see it all over. It's working out very nicely and we're going to have a very, very strict ban, and we're going to have extreme vetting, which we should have had in this country for many years."

A Saudi man passes the al-Faisaliya tower in Riyadh, Saudi Arabia
© AP PHOTO/ HASAN JAMALI
Trump's Immigration Order Puts Main US Ally in Mideast 'in Awkward Position'
Massive protests cropped up at airports all over the country as a result, with demonstrators voicing their support for immigrants and refugees, as well as many professionals, including immigration lawyers, offering free consultations to those trapped in limbo.

Seif noted that the US dollar’s share in Iran’s foreign exchange is insignificant, and that its replacement should be suitable for trade with important partners like the United Arab Emirates, Russia, China and the European Union.

Demonstrators protest agaist President Trump's executive immigration ban at Chicago O'Hare International Airport
© AFP 2016/ JOSHUA LOTT
Trump's Immigration Order Policy Inefficient, Isolates Countries - French PM
Agreements to stop using the dollar have been signed with Iran, Turkey, Iraq, Azerbaijan and Russia, although Seif pointed out that the agreements were not yet effective, as trade with those countries does not warrant the switch.

Some analysts have suggested that Tehran stands to make $41 billion in oil profits this fiscal year alone, and that switching from the dollar could pose a considerable financial risk. Iranian economic publication Donya-ye Eqtesad observed, however, that the dollar has already been largely replaced by other currencies in oil transactions, and that Tehran has been chiefly using it in official reporting.

Brent reached 55.95/barrel

The US dollar sank suddenly overnight

PAUL COLGAN
JAN 31, 2017, 5:15 AM


JOSE LUIS ROCA / AFP / Getty Images
The US dollar is under pressure in Wall Street trade.

After a weekend of chaos and demonstrations at US airports stirred by President Donald Trump’s executive order mandating tighter immigration rules, the greenback was crushed in early Monday trade.

Here’s the chart for the US dollar index, a broad representation of how the USD is valued against the currencies of key trading partners.


Via Investing.com
The effects were felt across markets. The Yen rallied from 114.93 to 113.76 against the greenback. US Treasury yields also tightened slightly by more than a basis point to trade at 2.47% a short time ago.

There was no clear data point to drive the move.

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.

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.

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.”

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%.

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.

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.

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.

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.

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

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.

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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.

Brent rebound to $56 and above

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.

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.

0.01 is impossible unless pn17. If pn17, no one wanted to buy one.

If reached 0.01, means company want to pn17, still want to buy.

WTI traded in a $52.11 - $55.25 range this week driven by sharp moves in currencies, updates related to good and bad behavior on production cuts from OPEC and non OPEC exporters and a poor EIA report. On the bearish side the US Dollar index’s highest print since December 2002 and Iraqi PM al-Abadi’s assertion that their Kurdish region was already violating its export limit agreement put downward pressure on oil early in the week. (Reuters later reported that Iraq has cut production by 200k bpd which is in line with the OPEC agreement.) Libya also added to the negative news by reopening the last of its conflict-shuttered export terminals which- according to Platts- had capacity of up to 230k bpd in 2013. More bullishly, Bloomberg reported Thursday that Saudi Arabia has been fully complicit with its production cuts by reducing output by 486k bpd to 10.06m bpd.

Going forward, we expect that a strong US Dollar and OPEC infighting will continue to apply bearish pressure to the market. However, we also believe that already-improving fundamentals in addition to even modest production cuts will generously support prompt spreads and flat price. Therefore, we are abandoning our $47-$55 forecast for WTI held since October with a more positive view that crude will move into a $55-$61 range in the coming months.

This week’s DOE report also added pressure to the market with massive inventory builds in gasoline and distillates in addition to a crude oil build in Cushing of more than 1m bbls which brought stocks in the hub to an eight-month high at 67.5m bbls. The only semi-bright spots of the report were a 7m bbl draw in PADD III which was almost entirely due to an import slowdown and a decent increase in refinery inputs.

Away from the oil market, the US Fed released minutes from its December meeting this week which revealed optimism on the ability of the economy to reach employment and inflation targets in 2017. Fed fund futures suggest that the FOMC’s next rate hike will occur in June. The minutes were adequately dovish for the US 2yr yield’s selloff to continue for a third straight week; perhaps the US Dollar’s post-election moon shot could be due for a crude-friendly pause as well.

Brent reached $57.10/barrel

JANUARY 5TH, 1:54 PM
BY BERNAMA
KUALA LUMPUR: Deputy Finance Minister I Datuk Othman Aziz today agreed with bankers' forecast that the ringgit will rebound to a fair value of 4.1 against the US dollar in the third quarter of the year.

Bankers had forecast the rebound based on improving commodity prices such as rubber and palm oil, as well as steady economic fundamentals, he said.

At 1.11pm, the ringgit stood higher at 4.4840/4890 against the greenback, after opening at 4.4870/4900 at 9am, following improved oil prices which are expected to rake in higher revenue for the government.

Brent crude futures, the international benchmark for oil prices, are still hovering above US$55 per barrel.

"This is a cycle and it is not the first time we are experiencing this, because we have seen the worst level of RM5.3 (to the US dollar) before," he told a press conference after visiting the Credit Counselling and Debt Management Agency here today.