Confident With Japan’s Nikkei Economy
Nikkei up after rising Japanese capital spending and continued weakness in the yen made investors more confident will soon Sakura recover the country’s economy. Japanese corporate capital spending increased 5.5% in the third quarter of 2014; higher than the 2.1% increase forecast and the publication of the second quarter were up 3.0%. The increase in capital expenditure can be a signal of increasing investment companies that are expected to contribute to help the economic recovery that has fallen into recession in the second quarter.
Continued weakness in the yen also make investors optimistic about the outlook for Japan’s exports. USDJPY weakest 7-year record 118.97 in early Asian session, and if the weakening of the yen continues then this can help improve the competitiveness of Japanese exporters in the international market. Exports also one of the main engines driving the Japanese economy so that if the improved export performance then this can also eject Japan from recession.
However, investors appear reluctant to push up the index is too high after Chinese manufacturing data released this morning confirms the threat of economic slowdown in one of Japan’s major trading partners. China’s manufacturing index reached the level of 50.3 for the month of November; lower than the predicted 50.6 and 50.8 the previous publication. Nikkei futures rose 1.06% and is now trading at 17 625.
Technically, the index on the trading session today, Monday (12/01) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to rise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 16825 and 16780. If it fails in 16875, we then estimated the index tends to retest the resistance level of 16900 and continued until the possibilities are in the area of 16 950.
Fundamental Analysis Pound, Rebound Thin Under Pressure
Pounds in trade at the end of last week, appears to come down against other major currencies, the US dollar. Opened in the range of 1.5639 in early trade (0000 GMT), the currency is down about -30 pips or about -0.19% and the closing value was observed in the range of 1.5610.
Pound Sterling currency movements today (00:21:19 GMT, Monday, 1 December 2014) observed rise, and the currency is monitored suppress other major currencies after opening at 1.5610 in early trade (0000 GMT). Against the US dollar, pound sterling exchange rate rose about 2 pips or about a 0.01% and rolling was observed in the value 1.5611.
The economic calendar shows that the Bank of England is scheduled to announce to the public, the most recent data on the performance of lending, especially for personal loans. Some economists suspect that progress is good enough for the data to be released in this sector.
Indicators Net Lending to Individuals m / m is expected to show a good performance and reflects the improvement to figure 2.8b of the value of the previous period is 2.7b. Observed pound sterling currency moves up early to respond to these developments.
Analysts suggested daily forex fundamental analysis Pound sterling that the normal range of movement in the GBPUSD is estimated to have the support level at 1.5565 and resistance level at 1.5691.
Technically, the trading session today, Monday (12/01), pound sterling-dollar pair a chance to move in the negative trend.
The weakening of the pound sterling primarily expected soon reexamine the minimum support at 1.5800 and 1.5750 maximum. Meanwhile, if the pound sterling was able to break and hold above 1.5841, then the other alternative scenario that Pound chance to test resistance in 1.5870 and 1.5920 area.
Swiss Referendum Undermines Gold
Gold slips after yesterday rejected the results of the Swiss referendum petition agara Swiss central bank (SNB) to raise the portion of gold as reserves. Gold Swiss referendum has been the backbone of the gold price in the last month, but the results of the referendum seems disappointing for gold investors.
The referendum has rejected a petition to the SNB to raise the portion of gold as reserves from the current level of 8% to 20%. XAUUSD now traded $ 1,150.45; away from the daily high level $ 1,159.71
The continued strengthening of the US dollar and the decline in world oil prices also gave a negative sentiment for the precious metal. The US dollar rose in early Asian session as more contrast outlook Federal Reserve monetary policy with other major central banks will have a meeting this week, including the ECB. BoE, and RBA. Oil prices hit a 5-year low $ 64.08 in early Asia, still burdened by the OPEC decision making investors anxious with abundant supplies of oil in the market.
Technically, gold in today’s trading session on Monday (12/01) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Bands that began to widen, thus giving impetus to the gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1145.33 and re-test the maximum level of 1140.73. However, if the price of gold is able to break and hold above 1151.70, the estimated price of gold could potentially test the 1153.40 and 1158.72 resistance.
