The Nikkei Rise, But Burdened By Issue Ex-Dividend
Japanese stocks moved lower at the start of the opening of trading on Friday, weakening largely driven by a range of blue chip stocks to their latest earnings report, as the market considers that the status of ex-Divided much going on heavyweight stocks, the Nikkei Average fell by 0.2 % in the early trade, and is now moving up around 1.62%.
Among the few names of companies ex-dividend is burdensome exchange, stock Fanuc Corp which fell 1.3%, and Nissan Motor Co., which fell 2%. However, if the value of the dividend is not taken into account, according to FactSet, the stock fell 0.7% only Fanuc and Nissan shares fell 0.6% and Toyota shares rose 0.3% after they launched several improvements in its products, which include efforts for improving the fuel efficiency of their hybrid cars. And among the stocks that move the ex-dividend stock is, Sony Corp which rallied 1.9%, shares of Olympus Corp. rose 2.2% and Fast Retailing Co., which rose 1%, shares of Lawson Inc. which rallied 3.6% and shares -Eleven ie operators and Seven & I Holdings Co. rose 1.3%.
Retail sector stocks rose after the release of the data before the market opens that shows sales in February fell 1.8% from a year ago, but for the large retailers rose 1.3%. Rising energy prices also helped increase in the stock market and the yen lower back which was at 119.24, up from 118.57 in the previous closing.
Technically, the index on the trading session today, Friday (27/03) 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 19 525 and 19 590 19450. If you fail, then the next index is expected to tend to retest the resistance level that is 19 625 and continued until the possibilities are in the area of 19 675.
Weakening Dollar Stop Before Yellen Speech
US Dollar to end a two-day decline against the yen as the difference between yields in the US and Japan widened amid speculation that the monetary policy of the two countries will be different.
Index US currency against major currencies rose to the highest level in a week on Thursday after data showed jobless claims decline that pushed Treasury yields moved higher. Yen diperdagangakn near its strongest level in more than a month to greenbcak as Saudi Arabia and its allies bombed the militia in Yemen, the increasing demand for haven assets.
Naohiro Nomoto, Bank of Tokyo-Mitsubishi UFJ Ltd. in New York said that the dollar be purchased as US Treasury yields rose. The advantages of the US dollar relative there because the US still plans to Raise interest rates while the majority of other developed countries do not.
Yen in this morning to move the range of 119.30 per dollar, after hitting 118.33 on Thursday, it was the strongest level since February 20.
Yields on US Treasury 10-year rose six basis points, or 0.06% 1.99% at the time becomes yesterday. Yield on Wednesday hit a 1.85%, it is the lowest level since February 6.
Fed Chairman Janet Yellen is scheduled to make a speech on monetary policy in San Francisco at 02:45 am / Saturday.
Dollar restore losses on Thursday as jobless claims fell as much as 9,000 into 282 000 in the week ended March 21. The US currency also get support from the Federal Reserve Bank president Dennis Lockhart said that the Atlanta economy can cope with displacement environment of higher interest rates.
Technically, today’s trading session on Friday (27/03), the dollar yen pair likely to move in a positive trend.
A stronger yen is mainly expected to immediately re-examine the minimum resistance at 119.80 and 120.50 maximum. Meanwhile, if the Yen was able to break and stays below 119.30, the other alternative scenario that Yen likely to test support in 119.00 and 117.80 area.
Gold Sparkle in Ongoing Yemen Conflict
Gold prices headed for a weekly gain of back-to-back for the first time since January after Saudi Arabia and its allies began to bombard their targets in Yemen, the increasing demand for haven assets amid record prices strengthening the longest rally in more than two years.
The price of gold is currently traded in the range of $ 1.202 / onz at 9:33 pm from $ 1.204 on Thursday, when prices rose for the seventh straight day. Precious metals rallied to $ 1,219.79 on March 26, it was the highest level since March 2, and rose 1.8% on the week. Gold is traded in Shanghai also headed for a weekly gain.
Investors have historically turning to precious metals during the ongoing geopolitical tensions. Gold menunju first quarterly gain since June because of Saudi Arabia, who led 10 states decided to attack Sunni militias around the capital of Yemen. Yemen, which is a neighboring country of Saudi Arabia in the south to be near the center of the world’s energy trade, and conflict makes oil prices posted the biggest weekly gain since 2011, which triggered speculation supply disruptions to oil supply.
Economist of ANZ Bank said that the gold price rally on safe-haven buying due to geopolitical tensions anxiety triggered by Saudi Arabia who began air strikes in Yemen.
Technically, gold in today’s trading session on Friday (27/03) 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 1195.33 and re-test the maximum level of 1190.73. However, if the price of gold is able to break and hold above 1201.40, the estimated price of gold could potentially test the 1203.40 and 1208.72 resistance.
