Weekend Charts: 4th April 2009

The Ringgit.

• MALAYSIA'S ringgit headed for its fourth weekly gain in a row, the best winning streak in a year, after Group of 20 leaders pledged more than US$1 trillion to help combat a global recession.The currency climbed to a 10-week high and the Kuala Lumpur Composite Index of stocks was set for its best close in more than two months on speculation a brighter outlook for the world economy will spur trade and bolster demand for emerging-market assets....
  
  The ringgit gained 0.4 per cent to 3.5837 per dollar as of 2.30 pm in Kuala Lumpur, according to data compiled by Bloomberg.
  
  The currency has risen 0.9 per cent this week and reached 3.5650, the strongest since January 19. (source: Business Times)

Here is the USD/MYR chart from Yahoo Finance.

The above chart is lagging and the 5 day chart would show a more clearer picture.


Gold.

Friday's opening gold price for Gold was at USD904. Gold fell $11.60 to settle at $897.30 an ounce last night. The selling/buying rates for the Kijang One Oz were at MYR 3417/3309 on Friday. Expect to see much lower prices on Monday!

The 3 month chart of Gold in MYR.


Daily chart of Gold in USD last 100 days.


Oil.

Daily chart for Crude Oil.



Crude Palm Oil

• MALAYSIAN palm oil futures firmed yesterday after hitting a new six-month high in the previous session as traders shifted focus towards an imminent global vegetable oil squeeze.
  Palm oil rose 8.3 per cent this week thanks to lower rival US soy acreage and stocks data that fed into fears of tight vegetable oil supplies in coming months with Malaysian palm oil industry undergoing a period of lean output and consistent exports.
  
  The benchmark June contract on the Bursa Malaysia Derivatives Exchange settled up RM6 to RM2,165 per tonne after going as high as RM2,185. (Source: Business Times)

Baltic Dry Index

The Baltic Dry Index lost another 32 points or 2% to close at 1506! Babe, that's fifteen straight down days for the index!

Time for reality check?