Gold Prices Climb High
Gold traded higher in Asian trade on Thursday (18/6). Investors see from the latest signal that a rate hike this year still remains on track.
Comex division of the New York Mercantile Exchange, gold for August delivery rose 0.62% to $ 1,185.10 a troy ounce. In the minutes of the FOMC meeting ended early this morning with the evidence necessary data before starting to raise interest rates.
Fed governor, Janet Yellen statement to reporters after setting the level of the Federal Open Market Committee (FOMC) reaffirmed the two conditions to begin to “normalize” rates. Namely, from the improvement in the labor market and inflation rose to log kedealam 2% target “in the medium term.”
While in Europe, the Greek Central Bank warned that the nation could face a “crisis of unbridled,” if agreement is not reached protracted with international creditors to unlock critical aid to stave off bankruptcy (default).
Driven from euro zone finance ministers meeting in Luxembourg begin. Deposit outflows from Greek Bank has reached a level of between $ 1,75- $ 1.85 billion. In a place other trading on the Comex, silver for July delivery gained 0.66% and rise to $ 16,053 troy ounce. Copper for July delivery fell 0.05% to 2,615 a pound.
Technically, gold on the trading session today, Thursday (18/06) potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands began to shrink, thus giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1191.25 and re-test the maximum level of 1197.00. But if the gold price could not break and survive below 1186.60 then predicted gold prices could potentially test the Support 1184.10 and 1180.00.
Nikkei Equally Depressed
Stock market trading Thursday morning Japanese cherry country the third week, the month of June (18/6) opened with the Nikkei index is still continuing bearish trend earlier trade by reaching its lowest in three weeks by a decline in foreign investment data and investment of foreign bonds in Japan despite the position of the Yen exchange rate weakened.
Before trading opened Japan’s finance ministry office released data Foreign Investment Bond and Stock Investment by Foreigners which overall showed a significant decrease from the previous release and exceeded economists’ expectations of a decline.
Economic indicators Foreign Investment Bond second week, the report showed a significant decrease in becoming – ¥ 1.850,6B from the previous release at – ¥ 384,6B with economists’ expectations showing a decline to – ¥ 394,3B, while the Data Stock Investment by Foreign slump – 413 yen, 2B from the previous release on ¥ 255B with expectations of a decline by economists became – ¥ 112,5B.
The poor sentiment helped topple the stock TOTO% at 0:55, 1:43 Mitsubishi Materials shares% shares% Hitachi Construction Machinery 1:41, Toshiba shares 0.85%, 0.99% GS Yuasa shares, shares of Nissan Motor 1:16%, shares of Mitsubishi Motors 1:20%, Mazda Motor 1:15%.
The Nikkei index opened this morning depressed by 32.06 points or 0.15% The by becoming 20187.21 points from the previous closing position at 20219.27 points and reached the highest position previously traded at 220,323.08 points and the previous low at 20126.57 points.
But unlike the movement of Nikkei index futures this morning are still successfully opened higher by 60 points or 0:30% to be 20.150 points from the previous closing position at 20.150 points and reached the highest position previously traded at 20323.08 and the lowest point at 20126.57 points earlier.
Based on the closing traded before, then Analyst estimates that today’s Nikkei index movement seems to be trying to penetrate the first support at 20 190 points with MA5 under BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the second support at 20 125 points with MA5 BB10 bottom daily.
If the movement of the index managed to turn around the direction of stronger, then is expected to try to penetrate the first resistance at 20 290 points with MA5 under BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate the next resistance at 20 350 points with MA5 under BB10 daily.
Technically, the index likely to weaken on the trading session today, Thursday (18/06), 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 of which is likely to increase, early indications bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first support level of 20000 and 19950. If it fails at 20060, then the next index is expected to tend to retest the resistance level 20090 and continued until the possibilities are in the 20140 area.
US Bond Yields Dropping Yen
The Japanese yen slipped against the US dollar as the increase in US bond yields and optimism the Federal Reserve policy makers will signal a rate hike opportunities at the end of the year. The increase in US bond yields generally supports the US Dollar due to increase yield bonds denominated in US-Dollar. Expectations of hawkish statement from the Fed and the prospect of rising US interest rates also dim the charm Yen.
In addition, investors are also worried about the yen’s monetary policy meeting the Bank of Japan (BoJ) on Friday. Markets want to find out the purpose of the statement last week the BoJ Governor said weaker yen against the US dollar, which reached the level of 125 was too excessive.
Ahead of the release of the FOMC statement and press conference of Governors of the Federal Reserve, USDJPY was at 124.25 at 23:06 pm, daily highs near 124.29 with 123.35 daily lows.
Technically, the trading session today, Thursday (18/06), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 122.50 and 122.00 maximum. Meanwhile, if the Yen were able to break and hold above 123.19, then another alternative scenario the Yen likely to test resistance in 123.40 and 124.10 area.
