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Weak ringgit lifts palm to 2 week high, but sluggish exports weigh KUALA LUMPUR: Malaysian palm oil futures rose to their highest in two weeks on Monday as a weaker ringgit prompted buying interest from overseas investors, but sluggish exports put a lid on gains and kept prices in a tight range.The Malaysian ringgit fell 0.5 percent against the US dollar on Monday, hitting a near four-month low and leading a downturn among emerging Asian currencies. A weaker ringgit boosts margins for overseas buyers and refiners.Weak demand for the tropical oil, however, weighed on prices. Cargo surveyor Intertek Testing Services reported that exports of Malaysian palm oil products in Jan. 1-20 fell 15 percent compared to a month ago as India, the world's biggest palm oil consumer, cut back purchases."Only a significant reduction in January and February production could stimulate export demand for palm oil, and funds have plenty of shorts to cover after selling crude palm oil futures aggressively since early ...


CBOT wheat to fall more to $5.54 SINGAPORE: CBOT March wheat is expected to fall further to $5.54 as a rebound from the Jan. 10 low of $5.60-1/2 could have completed.The completion has been indicated by wheat's failure to break resistance at $5.80, the 138.2 percent Fibonacci projection level of a wave C that fell from the Dec. 2, 2013 high of $6.74-3/4.Further indication has been given by the subsequent drop to support at $5.64, the 161.8 percent projection level.The black candle ...

LME aluminium to gain more to $1,839 SINGAPORE: LME aluminium is expected to gain further to $1,839 per tonne, as it has broken above resistance at $1,818. The resistance was established by the 76.4 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 to the Jan. 9 low of $1,751, there will be no other resistance until aluminium reaches $1,839. The speed of the rise simply indicates a remote chance of aluminium to return to $1,805, the ...

Shanghai copper biased to test resistance at 52,170 yuan SINGAPORE: Shanghai copper is biased to test a resistance at 52,170 yuan per tonne, as indicated by its wave pattern and a Fibonacci projection analysis.The resistance is provided by the 76.4 percent Fibonacci projection levels of an upward wave c, which started at the Wednesday low of 51,290 yuan. The third component wave of this wave, the c-3, could have just started.The wave c-3 has a fierce character and may easily break the resistance, to ...

CBOT soybeans to revisit low of $13.05-1/2 SINGAPORE: CBOT soybeans March is expected to revisit its Jan. 17 low of $13.05-1/2 per bushel as its correction from the Jan. 16 high of $13.30-1/2 has not completed.The correction will consist of three waves labelled a, b, c. So far only the wave a has unfolded, and the wave c is yet to develop.The wave b may end around $13.21, based on the assumption that the following wave c will travel roughly the same ...

London copper steady; China GDP shows cooling growth SYDNEY: London copper was barely changed on Monday as markets shrugged off easing fourth quarter economic growth in China, the world's top metals consumer, and instead focused on tight supply.China's annual growth eased to 7.7 percent in the fourth quarter as investment and demand flagged, and analysts say growth could cool further in 2014 as Beijing focuses on rebalancing the economy and other major reforms. China is the biggest user of most industrial metals, accounting ...

Malaysia's Jan 1-20 palm oil exports down 15.3pc KUALA LUMPUR: Exports of Malaysian palm oil products from Jan. 1-20 fell 15.3 percent to 748,303 tonnes, compared with 883,575 tonnes shipped during Dec. 1-20, cargo surveyor Intertek Testing Services said on Monday. Copyright Reuters, 2014


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln