Negative Kospi After Labor Data Report
Key stocks drag attenuation Kospi Kospi 0.18% this morning. Blue chip stocks Kospi last week managed to bring Kospi rose, today turning lead into negative territory.
Weakening Kospi also considered a negative reaction to the monthly US jobs report. Although there are reports of 252,000 additional workers better than analysts’ expectations of 241,000, the report also showed a decrease in average hourly wages by 0.2% from the previous month. This mix of data brought uncertainty to monetary policy, which make some profit-taking traders do.
So far Kospi traded at around 246.15, the lowest level of 245.35 and 246.90 highs.
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 242.50 and 240.10. If it fails at 246.80, then the next index is expected to tend to retest the resistance level of 247.90 and continued until the possibilities are in the 249.25 area.
The Pound Shows Movement Down
In forex movement Asian session this morning (01:32:13 GMT, Monday, January 12, 2015), the pound sterling in general showed downward movement against other major currencies after opening at 1.5187 in early trade (0000 GMT). The currency has dropped about -15 pips or about -0.10% and at the time of this story down scrolling value was observed in the 1.5172.
Ahead of a report from the British Retail Consortium, which is scheduled to release the latest data on the retail sector, Pound seemed to move down. Some economists suspect that the report will be published to show progress are not encouraging.
Some economists estimate that the indicators of the BRC Retail Sales Monitor y / y can indicate a less encouraging sign and could be expected to go down from the previous period is 0.9%. The British pound was observed to move down early responding 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 1.5115 and resistance level at 1.5226.
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 1.5115 and 1.5025 maximum. Meanwhile, if the pound sterling was able to break and hold above 1.5167, then the other alternative scenario that Pound chance to test resistance in 1.6180 and 1.6225 area.
Gold Prices Observed Rally on Monday Morning
Commodity exchanges trading precious metals on Monday (12/1), the price of gold and silver has been observed to rise when slowing growth in employment in the US.
Ongoing trade in the Asian session, gold futures for February delivery was trading 0.76% higher at $ 1.225.40 per troy ounce on the Comex division of the New York Mercantile Exchange. Gold price movements observed in this morning hit a session low $ 1.222.90 to $ 1.226.50 level daily and daily highs for the session.
Meanwhile, silver futures for March delivery traded higher monitored 1:16% at the level of $ 16,610 per troy ounce, the move hit a session low $ 16,523 to $ 16,680 level daily and daily highs for the session.
The price of gold and silver look strong support to be in the green area this morning, due to slowing growth in employment in the United States last December.
Based on Bureau of Labor Statistics reports have stated that the Non-Farm Employment Change has increased by 252,000 jobs in December, which slowed from the previous month with an increase of 353,000 jobs. However, the unemployment rate in the US has experienced a decline of 0.2%, seasonally adjusted 5.6% in December.
Meanwhile, this morning for the movement of metal prices seems to be a bit quiet because of the lack of economic reports world.
Technically, gold trading session today, Monday (12/01) the potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1230.25 and re-test the maximum level of 1235.90. However, if the price of gold was unable to break and stays below 1226.20 then estimated the price of gold could potentially test the 1225.10 and 1221.80 Support.
