Epic Research Malaysia Daily Forex Report 28 Dec 2018

1. Iforex Market Insight INTERNATIONAL CURRENCY BUZZ  ECONOMIC CALENDAR GBP/USD & EUR/USD HOURLY CHART EPIC RESEARCH MALAYSIA

2. Iforex Market Insight Date– 28 Dec INTERNATIONAL CURRENCY BUZZ Forex Forex - - US Dollar Grasps on to Fibonacci Support as Yen Strength Remains US Dollar Grasps on to Fibonacci Support as Yen Strength Remains Forex Forex - - EUR/USD: Back on gradual recovery path towards 1.20 EUR/USD: Back on gradual recovery path towards 1.20 - - UOB Forex Forex- - GBP/USD continues to fluctuate in tight range above 1.26 GBP/USD continues to fluctuate in tight range above 1.26 UOB EUR/USD “The EUR 2.6 turn bond-buying program has been formally concluded by the end of 2018. To a certain extent, the massive stimulus plan by the European Central Bank’s (ECB) has kept the EUR/USD pinned within a 1.05 to 1.25 range since its implementa- tion in early 2015. So, once the ECB’s balance sheet stops expanding in 2019, one of the key pressure points against the EUR could start to alleviate.” “With policymakers still largely confident that they would weather the slowdown, discussions by the ECB about its maiden rate hike would eventually begin in 2019. This is likely to a key upside catalyst for the EUR especially where pricing for a rate move higher is very modest now.” “Market consensus has yet to price in any meaningful odds of any rate hike from the ECB across 2019. But once the ECB starts hiking rates, this will be in stark contrast to US monetary policy as the FED would have reached the tail end of its rate hiking process in late 2019.” GBP/USD The GBP/USD pair is trading in a relatively tight range on Thursday amid a lack of fresh fundamental drivers and thin holiday trading conditions. As of writing, the pair was was virtually flat on the day at 1.2635. Earlier today, a report published by the Institute of Directors (IoD) showed that the business confidence in the UK slumped to its lowest level in more than a year dragged lower by Brexit uncertainties. According to Reuters, commenting on the report, "Business leaders are looking ahead to the new year with trepidation about the economy. While we saw cautious optimism emerging when the Brexit talks appeared to be moving towards a transi- tion period after March 2019, that has utterly dissipated now. The prospect of a no- deal in the near future will be weighing heavily on directors’ minds,” said IoD senior economist Tej Parikh. On the other hand, the greenback's market valuation continues to be impacted by the Treasury bond yields and the risk perception. Iforex Market Insight By Epic Research Malaysia www.epicresearch.my

3. Iforex Market Insight Date– 28 Dec ECONOMIC CALENDAR Time Time Cur. Cur. Event Event Forecast Forecast Previous Previous Friday, December 28, 2018 Tentative GBP Nationwide HPI (YoY) 1.9% Tentative GBP Nationwide HPI (MoM) 0.3% 03:00 CHF KOF Leading Indicators (Dec) 98.7 99.1 04:30 GBP Gross Mortgage Approvals 38.9K 39.7K 08:30 USD Goods Trade Balance (Nov) -75.50B -76.98B 09:45 USD Chicago PMI (Dec) 62.0 66.4 10:00 USD New Home Sales (MoM) (Nov) 2.9% -8.9% 10:00 USD Pending Home Sales (MoM) (Nov) 0.7% -2.6% 11:00 USD Crude Oil Inventories -2.869M -0.497M 11:00 USD Cushing Crude Oil Inventories 1.091M 13:00 USD U.S. Baker Hughes Oil Rig Count 883 13:00 USD U.S. Baker Hughes Total Rig Count 1,080 15:30 GBP CFTC GBP speculative net positions -60.7K 15:30 USD CFTC Crude Oil speculative net positions 309.6K 15:30 USD CFTC Gold speculative net positions 76.0K 15:30 USD CFTC S&P 500 speculative net positions 210.3K 15:30 AUD CFTC AUD speculative net positions -35.1K 15:30 JPY CFTC JPY speculative net positions -102.8K 15:30 EUR CFTC EUR speculative net positions -53.1K www.epicresearch.my Iforex Market Insight By Epic Research Malaysia

4. IFOREX Market Insight top 5 gainers Date– 28 Dec GBP/USD DAILY CHART BUY GBPUSD ABOVE 1.2670 TGT 1.2690 1.2730 SL 1.2640 SELL GBPUSD BELOW 1.2620 TGT 1.2600 1.2570 SL 1.2650 EUR/USD DAILYCHART BUY EURUSD ABOVE 1.1470 TGT 1.1490 1.1520 SL 1.1470 SELL EURUSD BELOW 1.1440 TGT 1.1420 1.1390 SL 1.1470 www.epicresearch.my Iforex Market Insight By Epic Research Malaysia

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