Malaysia Tin price update

Malaysia Tin price update

The Tin price on Malaysia Stock  surged on trading Thursday (2/16). The Tin price increase pushed a variety of positive sentiment that supports the strengthening of the US dollar weakening, namely, strengthening the global exchanges and the increase of crude oil.

Ending forex trading Thursday early morning (6/02), the Us Dollar ended retreat afterbriefly strengthened the European session of the forex market yesterday, disappointed with the outcome of the FOMC meeting treatise last January that weaken theprospects of further interest rate hikes the Fed. Observed this afternoon, the U.S. dollar index weakened-0.07% at 96.75.

Global exchanges today are also strengthened. The stock exchange Wall ends at the close of trade on Wednesday in positive (18/02) pushed the crude oil price recoveryand positive us economic data. The Dow Jones index closed up 1.59 per cent, at 16, the highest rise, with 453.83 shares of Chevron. Index of S P 500 closed up & 1.65 percent, at 1, 926.82, with the energy sector led the nine sectors higher. The Nasdaq Index closed up 2.21 per cent, at 4, 534.06.

European exchanges last night also ended up in the green zone pushed the crude oilprice increase.

Asian bourses this afternoon move positively driven rise of Wall Street exchanges. Allmajor Asia indexes were in the green zone.

Meanwhile, the price of crude oil futures rose in Asian trade Thursday, after Iranwelcomes Russia and Saudi Arabia plan to shut down production, although analysts say such measures will not lead to a decrease in production.

After the oil price rise in the previous session as much as 8 percent, but there is stillthe party that declared the market has been overreacting to support Iran to shut down production and said steps Arab-Russia will not likely reduce the global surplus.

U.S. crude oil futures prices rose 60 cents to $ 31.26 a barrel, after closing up 5.6 percent in the previous session and touched the highest position $ 31.49. The price of crude oil futures Brent rose 42 cents to $ 34.92 per barrel at 0409 GMT, after closing up 2.7 percent in the previous session after reaching its intraday high of $ 34.99.

The price of Tin in Malaysia commodity stock exchange observed a significantincrease today with a variety of positive sentiment support. This industrial metal prices traded at position 15550 dollars per ton, up by 300 dollars from the previous closing on 15250.

We estimate that Malaysia Tin price movements on the next limited firms potentiallytrading for short term responds to the strengthening of global exchanges. However it is worth noting the development of the u.s. dollar and crude oil prices later tonight.Economic indicators data Initial Jobless Claim later that night indicated increased, ifunrealized will depress the u.s. dollar, so that it can support the increase in the price of Tin. Also note the price movement of crude oil later tonight which will face the weeklyinventory data release crude oil the U.S. indicated increased.

Price will face Resistance level in 15750 15950 dollar and position of the dollar. But if the decline in prices will face the Support level at 15150 15350 dollar and dollar.