Japan Export Data Exchange Subvert Records
After successfully set a new record trading on the Tokyo Stock Exchange earlier, the Nikkei index in early trading today (18/3) opened lower impact of the results of the Japanese export data releases that showed a significant decline. When opened originally index had gained a new record trade thin resume previously, but very strong export data to influence the market.
The results of the Japanese export data releases for the month of February showed a significant decrease to 2.4% from the previous release at 17%, but Japan’s trade deficit showed a significant decrease in becoming -425B of previous results on -1.177B. The result of the release of these exports putting pressure on automotive stocks, but other exporters is still showing gains.
Auto shares are Hino Motors weakened significantly by 1.80%, Honda Motor fell at 0:27%, Isuzu Motor weakened significantly by 1:52%, Kawasaki Kisen Motors fell 0.28%, Mitsubishi Motors weakened significantly by 0:54%, Nissan Motor fell 0.12%, and Suzuki Motor weakened significantly by 0.68%.
While exporters are bracing is Canon rose significantly by 1.94%, Daikin Industries rose by 0:20%, robot maker Fanuc back shows the strengthening of 2.12%, higher by 0:16% Hitachi, Panasonic rose significantly by 2:03%, significantly higher Ricoh of 1.54% , Sony strengthened significantly by 4:30%, and Toshiba strengthened significantly by to 2.50%.
The movement of Nikkei index opened lower Wednesday morning at 29.25 should be points or 0.15% The who became 19407.76 points from the previous closing position at 19437.00 points to reach the previous highs at 19479.89 points and the previous low at 19373.39 points. Similarly, the movement of Nikkei index futures opened lower this morning by 10 points or 0.05% by which became 19 365 points from its previous close at 19,375 positions to reach the previous highs at 19,410 points and the previous low at 19 295 points.
Based on the previous closing, then Analsyt Vibiz Research Center estimates that today’s Nikkei index movement will move the negative diteritori to try to penetrate the support at 19 342 points with over 10 MA5 bolinger daily, if the movement of the index is able to penetrate the support at 19 342 points eating is estimated that the movement of the index will try to penetrate the next support at 19,280 points.
If the movement of the index is not able to penetrate the support at 19 342 points, then it is estimated that the movement of the index will try to break through resistance at 19 450 points with over 10 MA5 bolinger H4 and daily, if the movement of the index is able to break through resistance at 19 450 points, then it is estimated that the movement of the Nikkei index will try to break through resistance next at 19,530 points.
Technically, the index on the trading session today, Wednesday (03/18) 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 19280 and 19200. If it fails at 19 340, then the next index is expected to tend to retest the resistance level that is 19 370 and continued until the possibilities are in the area of 19 425.
Euro Continue to Rebound Against Dollar
The euro rose against the dollar on Tuesday, ahead of the announcement of the Federal Reserve’s policy meeting this week in March, which is expected to provide a clearer signal on the time of US interest rate hikes.
After being recovered also in Monday, meyusul sharp slowdown for several weeks against the US dollar, the euro traded at around $ 1.0630 at midday. Currency strategist at BNP Paribas said that a number of disappointing US data has dampen the momentum of the recent rally in the dollar and makes dollar a little anxious ahead of the Federal Open Market Committee announcement on Thursday early morning. Data on Monday showed US industrial production levels only rose as much as 0.1% in February, were below expectations.
So far this year, the euro has weakened more than 12% against the dollar, but a number of strategic warned against the dollar bullish position has been piling up and that investors should begin to anticipate the opportunities that the Fed will maintain the pace to be patient in raising interest rates, especially in the middle of the strengthening dollar. The strengthening of the euro on Tuesday was also triggered by the survey results of ZEW institute in Germany were positive, showing the current conditions index shows the level of 8-month high and the economic sentiment indicator hitting a 13-month high in March. Separate data showed that the rate of consumer inflation in the euro zone fell back in February, but at a slower pace, signaling that the threat of deflation began to subside.
Technically, the trading session today, Wednesday (3/18), the Euro-dollar pair a chance to move in the negative trend.
The weakening of the Euro mainly expected soon reexamine the minimum support at 1.0550 and 1.0480 maximum. Meanwhile, if the Euro is able to break and hold above 1.0606, then the other alternative scenario that Euro chance to test resistance in 1.0640 and 1.0700 area.
Gold Moving In Close Low Level 3 Months Before FOMC
Gold perched near its lowest level in three months as investors weigh the outlook for US interest rates higher before the Federal Reserve gave a conclusion during the two-day meeting and the number of assets in the stock that traded gold back down.
Gold is currently trading in the range of $ 1,150.51 / onz at 9:19 pm of $ 1,149.57 on Tuesday. Price dropped to $ 1,142.92 on March 17, it was the lowest level since Dec. 1.
Central debate of the Fed meeting will be whether the economy has been strong enough to ensure the elimination of the promise to “be patient” on the rise in borrowing costs. Almost 90% of economists surveyed by Bloomberg predict that officials will remove the promise of a policy statement at the conclusion of their meeting on Wednesday. Total holdings of gold investment in ETP down for 14 days in a row on Monday, it is the longest losing streak in more than a year.
Analysts at ANZ Bank said that the investors out of gold investment in the ETP ahead of the FOMC meeting. Prices dropped “on speculation there will be increase in US interest rates sooner than expected.”
The amount of gold in the ETP assets fell to 1,638.4 metric tons on Monday, it was the lowest level since January 21.
Technically, gold trading session today, Wednesday (3/18) 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 1155.10 and re-test the maximum level of 1160.87. However, if the price of gold was unable to break and stays below 1151.50 then estimated the price of gold could potentially test the 1148.78 and 1145.40 Support.
