Kim-Moon Meet in for Historic Moment | DZHI - DZH International 
logo

Kim-Moon Meet in for Historic Moment

  • DAR Wong
  • 30 April 2018

Fundamental Outlook   The U.S. home sale continue to grow and signal inflation among property demand. Leaders for North and South Korea meet to talk peace and attracts global media focus. European Central Bank stays unchanged in monetary policy.

The U.S. existing home sale rose 5.60 million and grew in second consecutive month. . New homes sale continued to grow in March at 694,000 and best record in 4 months.

The U.S. Conference Board of consumer confidence rises to 128.7 in April and higher than March. Weekly Crude storage increased 2.2 million barrels ended 21 April and put lid on demand rise.

The U.S. durable goods rose 2.6 percent in March. Excluding transport equipment, core durable goods stayed flat and below forecast. Another separate report on GDP for Q1 seasons grew 2.3 percent and above forecast, after the previous quarter was revised to 2.9 percent gains.

On Friday, the leaders of North and South Korea met for the first time in history. Kim is the first North Korean to cross in South Korea territory since 1953.

German ifo business climate measuring confidence from manufacturers, wholesaler to retailers unexpectedly declines to 102.1 in April and lowest since December 2012. Markit reports that Eurozone’s manufacturing index rises to 56.0 reading in April while services index grew 55.0, both in-line with forecast.

European Central Bank stays unchanged in monetary policy but President Draghi reassures of ultra-easy monetary policy. Analysts are more concerned on the tapering schedule of stimulus as this could be the beginning of interest rise.

U.K. public sector net borrowing dropped GBP300 million in March and better than forecast. British GDP rose 0.1 percent in Q1 seasons and fell short of expectation.

 

Technical Forecast   USD/JPY fizzled out at 109.50 area last week and closed lower at 109.00 level. This week, the market may reverse for correction and head down to 108.00 region. Sideways trend is expected in mixed sentiment while Dollar is slightly firm but not robust.

EUR/USD has been supported at 1.2050 region as Dollar rises. This week, we foresee the support will be firm at 1.2000 region in confluence with EMA200 line. Market is likely to bounce into correction while contain from 1.2000 – 1.2250 region.

GBP/USD traded lower last week and supported at 1.3750 level. This week, we forecast the trend may follow Euro into sideways correction with demand rising from 1.3700 area. Topside resistance will emerge at 1.4000 in case of recovery and overall trend may be trapped in mixed sentiment.

 

Disclaimer: This article is written for general information only. No liability by the writer, publisher or any third party involved in the distribution of this work.

DAR Wong is a registered fund manager in Singapore with 29 years of global trading experiences. You may reach him at dar@pwforex.com


About the Author
DAR Wong (Singapore)
An international speaker with 27 years of trading experience in the global financial markets, DAR is a Market Master and author of “Living Daylight in Stock Market: Monetizing Your Profits in 8 Days”.

DAR Wong is an active market trader, registered fund manager, educator and author.He began his career in 1989 as an institutional Futures trader with Bank of America. DAR Wong specializes in trading global derivatives and financial markets. He has 26 years of experience accumulated through tenure with Bankers Trust, Barclays Bank, Citigroup (Smith Barney Shearson Inc) and as an independent trader.

DAR is the author of “8 Ways to Invest in China’s Emerging Market” and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional traders and active investors.

He is a popular and sought after international speaker who has presented to financial professionals and investors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China, Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East (UAE).

DAR is registered with NASD (now known as FINRA) series 3 and 5 as approved by National Futures Association (NFA) of USA and holds a current portfolio as Fund Strategist and Advisor with Dektos Investment registered with Monetary Authority of Singapore.

DAR is profiled as “One of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading “. In January 2015, DAR was honored with Outstanding Award for International Financial Market Analysis granted by ASEAN Commerce (Thailand).

DAR is the author of "8 Waysto Invest in China's Emerging Market" and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional tradersand active investors.1

He is a popular and sought after international speaker who has presented to financialprofessionals and inverstors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China,Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East(UAE).2


Year
2003 - Set up ASPRI to provide hedging advisory for corporate clients and training for financial professionals
2009 - Released first book “8 Ways to Invest in China’s Emerging Market”
2010 - Profiled as “one of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading” along with Larry Williams, Andrea Unger, Michael Cook, and Daryl Guppy etc
2011 - Received “Spirit of Enterprise”awarded by Singapore Management University in Singapore
2012 - Honored with Individual Diamond Career (Thailand) awardedby Royal Privy Council of Kingdom of Thailand
2013 - Appointed Vice Chairman of ASEAN-China Commerce Association and led a delegationtothe annual China-Asean Expo in Guangxi Province, China
2014 - Fund Manager cum Director in Dektos Investment Corporation registered with Monetary Authority of Singapore
2015 - Released new book “Living Daylight in Stock Market - Monetizing Your Profits in 8 Days” in January
2015 - Honored with Outstanding Award in International Financial Market Analysis awarded by ASEAN Commerce (Thailand)
2016 - Honored with Medal of Integrity by Royal Councilin Palace of Palembng, Indonesia

References

1.TV programs on ChannelNewsAsia (Singapore);Radio on 95.8 Capital (Singapore); Newspapers such as The Borneo Post (Malaysia), 资汇报 (Malaysia); Regional financial magazines such as The Analyst (India), 东盟商界(ASEAN, China), 资本杂志 (Malaysia).

2.Spoke at events for CME Group, Euronext LIFFE, Tokyo Commodity Exchange, Singapore Exchange, Korea Exchange, Bursa Malaysia, Thailand Futures Exchange, Jakarta Futures Exchange, Indonesia Commodity and Derivatives Exchange, Tokyo Commodity Exchange, Interactive Brokers, Xinhu Futures, Hangzhou Money Fair, China (Shenzhen) International Finance Expo, China (Guangzhou) International Finance Expo, Euromoney, CIMB, Maybank, RHB, UOB Bank, Asia Trader & Investor Convention, Global Rubber Conference, International Rubber Conference, Malaysia Rubber Board, International Rubber Research and Development Board,Malaysia Ministry of Agriculture, Rubber Industry Smallholders Development Authority, Vietnam Rubber Association, Cambodian Rubber Association, Bureau of Agriculture Research Philippines, Myanmar Rubber Planters & Producers Association etc.