Monday, August 01, 2011

Morning start..fkli firm 1544-48 fcpo soft 3080-3100

DJ -90, worst week in a year as the wait for a debt deal continues. 10-y bond yield at 2.83% from 2.93%, still good demand for US bond.

But regional already staging a relief rally in early Mon as hopes grow, +1% to +1.5%. US$ weak but commodity mixed, flat

fkli with strong externals, fbm.fkli can target 55-56 resistance today. 45-55, upward bias tone likely on rebound mode as mkts convince of a debt deal by 2 Aug.

fcpo SO -.0.3%. No incentive for a clear direction. but +ve equity tone could push fcpo back up 3100 again. 3080-3120 is sideways play. Below 3080 is bearish.

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