Japanese Nikkei GDP Data Keep Performance
Japanese stock market, the Nikkei, rose in trading today after data showed the Japanese economy out of recession in the fourth quarter of 2014. Wall Street higher on Friday also gave a positive sentiment.
Cabinet Office said Japan’s gross domestic product (year-on-year) grew 2.2% in the fourth quarter, after shrinking the previous two quarters, -1.9% in the third quarter and -7.1% in the second quarter . However, GDP growth is still lower than economists’ estimates of 3.7%. Tax increase in Japan in April last make Japan’s economy shrank in two consecutive quarters, forcing the government of Prime Minister Shinzo Abe second delay tax increases.
Naikknya oil prices in the two-day losing streak on Friday made the Wall Street rose, the S & P 500 hit a record high, while the Dow Jones closed above the 18,000 level for the first time since December 26, 2014.
The headline Nikkei index today rose 0.8% to 18024.01. While the Nikkei Futures traded at around 18045 at 7:40 pm with daily lows and highs 17 970 18 065
Technically, the index on the trading session today, Monday (16/02) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 18 075 and 18125. If it fails in 18025, we then estimated the index tends to retest the support level of 18000 and continued until the possibilities are in the area of 17 950.
Euro Flat In Central Greece and the Troika Meeting
The single currency euro held near the highest level thanks to the weekly Euro zone GDP data are quite satisfactory, but restrained as concerns the Greek debt drama is still overshadow investors.
Euro zone GDP rose 0.3% in the last quarter of 2014, exceeding expectations for a rise of 0.2%. Germany, the euro zone’s largest economy into a major driving force of economic recovery outlook for the Euro, with the advanced level of 0.7% of GDP in the fourth quarter, more than expected increase of 0.3%.
Anxiety investors awaiting confirmation of Greece’s debt position is still overshadowing the Euro trading.
Talks between the Greek finance minister and some Euro zone finance ministers in Brussels still have not come to fruition. For three weeks the Euro has traded volatile, market sentiment following the turmoil that followed the development of Greek finances and membership in the euro club.
Now the representatives of Greece and the Troika, the term for creditors Euronya zones: European Union; European Central Bank; and the International Monetary Fund, has started a discussion in Brussels as the expectation of a compromise from both sides.
The currency pair EUR / USD is now traded at around 1.1409, with daily highs and daily lows 1.1442 1.1379.
Technically, today’s trading session on Monday (16/02), the pair Euro-dollar likely to move in a positive trend.
The strengthening of the Euro mainly expected soon reexamine the minimum resistance at 1.1450 and 1.1510 maximum. Meanwhile, if the Euro was unable to break and stays below 1.1411 then another alternative scenario that Euro chance to test support in 1.1400 and 1.1340 area.
Ahead of Greek Talks, Precious Metals Still Up
Gold moved higher on Monday (16/2) morning. Investors are also waiting for continuation of negotiations with the Greek debt sentiment euro zone finance ministers in Brussels.
On the Comex in New York Mercantile Exchange, spot gold for April delivery climbed 0:36% at 1.231.50
Greek Finance Minister Yanis Varoufakis led a delegation to Brussels today after last week meeting. Greeks who are seeking funds amounting to 10 billion euros for short-term loans in order to avoid a crisis, and also find time to press creditors to ease the demand austerity.
Concerns about Greek negotiations with the lenders to support the precious metal as a safe asset haves. In other metals trading, silver for immediate delivery traded at $ 17.3507 an ounce from $ 17.3625. Platinum was up 0.6 percent at $ 1,214.88 an ounce, while palladium was little changed to a level of $ 791.25 per ounce.
Technically, gold trading session today, Monday (16/02) 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 1235.50 and re-test the maximum level of 1240.87. However, if the price of gold was unable to break and stays below 1231.40 then estimated the price of gold could potentially test the 1230.78 and 1225.40 Support.
