Oil Holds Gains Near Week High Before Chinese Manufacturing Data

KPF Jogja - Oil held gains near the highest price in more than a week before data that may signal the strength of China’s economy, the world’s second-largest crude consumer.
 

Futures were little changed in New York after rising 1.9 percent on Monday. An index of China’s manufacturing output was forecast at 50.5 in March, down from 50.7 in February, a Bloomberg News survey showed before a preliminary reading from HSBC Holdings Plc. U.S. crude stockpiles probably increased further from a record high last week, according to a separate Bloomberg poll before government data on Wednesday.

Oil has fallen 12 percent from this year’s peak in February as U.S. crude inventories and production surged to the highest level in more than three decades. Saudi Arabia, which led a decision in November by the Organization of Petroleum Exporting Countries to resist calls to cut output, is pumping near a record level, its petroleum minister said on Sunday.

West Texas Intermediate for May delivery was at $47.18 a barrel in electronic trading on the New York Mercantile Exchange, down 27 cents, at 12 p.m. Sydney time. The contract advanced 88 cents to $47.45 on Monday. Total volume was about 74 percent below the 100-day average. Prices have decreased 11 percent this year.

Source: Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:44 AM

Gold Holds Near Two-Week High on Rates Outlook After Dollar Dips

KPF Jogja -Gold traded near the highest level in two weeks on speculation that the Federal Reserve may be slow to raise interest rates in the world’s biggest economy.

Bullion for immediate delivery traded at $1,188.14 an ounce at 9:07 a.m. in Singapore from $1,189.54 on Monday, when prices climbed to $1,191.71, the highest since March 6, according to Bloomberg generic pricing. The precious metal advanced 2.1 percent last week, the most since January.

Gold rebounded from a three-month low last week as Fed Chair Janet Yellen suggested that policy makers are in no hurry to raise rates, even as the Fed dropped a pledge to be patient on tightening. The dollar weakened on Monday after Stanley Fischer, the U.S. central bank’s vice chairman, said there won’t be a “smooth upward path” for rates, even with the first increase potentially warranted by the end of 2015.

Fed officials on March 18 lowered their estimates for borrowing costs at the end of 2015 to 0.625 percent from December’s estimate of 1.125 percent. Traders had been exiting gold in anticipation of steeper rate gains, which usually send investors to assets with better yield prospects such as stocks.

The Bloomberg Dollar Spot Index dropped for a second day on Monday after tumbling 2.2 percent last week, the biggest weekly decline since October 2011. Gold typically trades counter to the U.S. currency.

Bullion for April delivery rose 0.1 percent to $1,188.50 an ounce on the Comex, set to rise for a fifth day.

Source: Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:40 AM

U.S. Stocks Slip as Transports Decline Offsets Consumer Gains

KPF Jogja -  U.S. stocks retreated after the Standard & Poor’s 500 Index climbed within four points of a record, as a drop in transportation companies offset gains in consumer shares.

The Dow Jones Transportation Average dropped after railroad Kansas City Southern cut its outlook. The Nasdaq Biotechnology Index fell 2.2 percent after setting a record Friday.

The S&P 500 slipped 0.2 percent to 2,104.44 at 4 p.m. in New York. The Nasdaq Composite Index lost 0.3 percent.

The S&P 500 and Dow are less than 1 percent from records they last reached on March 2. The Nasdaq Composite jumped on Friday to a 15-year high, almost erasing its losses since the end of the dot-com bubble. The S&P 500 rose 2.7 percent last week, with the dollar weakening, as concern eased about an interest-rate increase.

Source : Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:34 AM

Japan Stocks Fall First Time in Three Days on U.S. Rate Outlook

KPF Jogja - Japanese stocks fell for the first time in three days as the yen held two days of gains amid speculation the Federal Reserve won’t hurry to raise interest rates.

The Topix index declined 0.3 percent to 1,587.30 as of 9:02 a.m. in Tokyo, after closing yesterday at a seven-year high. More than two stocks fell for each that rose. The Nikkei 225 Stock Average lost 0.2 percent to 19,702.42. The yen traded at 119.75 per dollar after Federal Reserve Vice Chairman Stanley Fischer said there won’t be a “smooth upward path” for U.S. interest rates, even with the first increase potentially warranted by late 2015.

Global equity values climbed by more than $2.4 trillion last week as Fed policy makers signaled a more gradual pace of monetary tightening than previously estimated. San Francisco Fed President John Williams speaks to economists in Sydney Tuesday after Fischer’s comments Monday to the Economic Club of New York.

E-mini futures on the Standard & Poor’s 500 Index added 0.1 percent after the underlying equity measure lost 0.2 percent Monday in New York.

Source: Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:30 AM

Most Asian Stocks Retreat as Investors Await China Factory Data

KPF Jogja - Most Asian stocks fell, following a drop in U.S. equities, as industrial companies declined and investors awaited manufacturing data from China.
 

About three shares dropped for every two that rose on the MSCI Asia Pacific Index, which traded little changed at 148.77 as of 9:03 a.m. in Tokyo. The measure closed yesterday at its highest since Sept. 4, and traded at 15 times estimated earnings, the highest multiple in almost five years. Preliminary manufacturing data due today in the region may be mixed, with a private report from China expected to show growth is slowing and a purchasing managers’ index from Japan likely to signal accelerating expansion.

Japan’s Topix index slid 0.3 percent. South Korea’s Kospi index sank 0.2 percent. New Zealand’s NZX 50 Index fell 0.2 percent. Australia’s S&P/ASX 200 Index gained 0.3 percent. Markets in China and Hong Kong have yet to open.

Chinese equities were cut to neutral from overweight by strategists at Bank of America Corp.’s Merrill Lynch led by Ajay Kapur, who said the weakening property market and intensifying anti-corruption campaign will crimp consumer spending. The Shanghai Composite Index advanced 2 percent Monday, gaining for a ninth day to cap the longest winning streak since April 2007.

Source: Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:26 AM

PIAGAM PENGHARGAAN

KPF Jogja - Piagam Penghargaan

PT.Kontakperkasa Futures

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 3:00 PM

Dollar Holds Losses as Investors Await Fed Speeches for Clues

KPF Jogja - The dollar held losses against the euro and the yen as investors look to speeches by Federal Reserve officials for clues on monetary policy.

A gauge of the greenback against major peers dropped the most since October 2011 last week as banks including HSBC Holdings Plc said the currency’s surge since August is coming to an end. Officials scheduled to speak on Monday include Cleveland Fed President Loretta Mester, a non-voting member, and San Francisco Fed President John Williams, who does vote on policy.

The dollar traded at $1.0832 against the euro at 8:46 a.m. in Tokyo from $1.0821 Friday, after slumping 3 percent last week. It was little changed at 120.03 yen after sliding 0.6 percent on Friday.

The Bloomberg Dollar Spot Index fell 0.1 percent to 1,194.12, after tumbling 2.2 percent last week.
Hedge funds trimmed their bullish dollar futures positions to the least since December, according to Commodity Futures Trading Commission data. Net futures position betting on a stronger greenback versus eight major peers in this category reached a record 448,675 contracts in January.

Source : Bloomberg

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 9:46 AM