Gold Prices Rise
Trading commodity futures exchange on Thursday (30/7), gold and silver prices traded higher observed by noting the rise this morning after being closed down in the previous session after the release of the FOMC outcome.
Ongoing trade in the Asian session, gold futures for December delivery has traded higher 0:37% to trade at $ 1.097.50 per troy ounce on the Comex divis, New York Mercantile Exchange. Since this morning, the range of the price of gold has moved touched a session low $ 1.095.20 to $ 1.098.20 level daily and daily highs for the session.
Meanwhile, silver futures for September delivery was trading higher by noting 0:45% increase in the level of $ 14,810 per troy ounce. On this morning, the price of silver appears to have moved touched a session low $ 14,760 to $ 14,815 daily and the level of daily highs for the session.
Gold and silver prices rise seen trying to arrange return after a natural decline in the previous session after the release of the results of the Fed’s policy meeting early this morning. The Federal Reserve has again maintained its monetary policy to leave their interest rates at the level 0:25% on the results of a policy meeting in June.
In this occasion the results of the FOMC meeting showed that amid the rise in the labor market, where job growth has increased a solid that accompanied the decline of unemployment in the US territory.
Meanwhile, the market’s attention today is drawn to US economic reports scheduled to be released at 19:30 Jakarta time. A series of economic reports that include a US GDP data, the trade balance and jobless claims.
In line with the report, then the fluctuation of gold price movements will re-occur. If the report shows amid the US economic growth, then the gold price potentially naturally decline. On the contrary, if the result of economic reports showing amid the US economic growth retardation then the gold price increase is likely to proceed at this time.
Technically, gold in today’s trading session on Thursday (30/07) 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 Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1088.25 and re-test the maximum level of 1082.50. However, if the price of gold is able to break and hold above 10936.00, the estimated price of gold could potentially test the Resistance 1095.60 and 1100.25.
Shares of Samsung Limiting Strengthening Kospi
South Korean stock market trading Thursday morning (30/7) opened with the Kospi return to continue the positive trend of the previous trading. Strengthening of the index this morning supported by the automotive company’s financial performance reports are impressive. However, the drop in shares of Samsung Electronics tried to limit the post-report the company reports operating profit in the second quarter of this year.
Increased sales of automotive companies like Hyundai Motor and Kia Motors managed to lift their shares previously hit into a 00:35% and 12:20% respectively, their sales increased by 8.8% with sales of 1.95 million units in the world market, an increase of 0.6% from the first quarter ,
This morning Kospi index movement seems open in positive territory at 4.67 points, or 0:23%, by becoming 2042.29 points from the previous closing position traded at 2037.62 points and achieved the highest positions traded the previous day at 2055.95 points and the lowest previous 2037.62 points.
Likewise, the movement of Kospi index futures this morning that also opened up 0.25 points, or 0:10%, degan be 246.70 points from the previous closing position traded at 246.45 points and reached the highest position previously traded at 247.36 points and the previous low at 245.73 points.
Based on the closing traded before, then Analyst estimates that today’s Kospi index movement would potentially weaken with penetrate the reverse direction first support at 245.00 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 244.30 MA5 points with under BB10 daily.
If the movement of the index managed to continue strengthening in early trading, then the expected movement of the index will try to penetrate the first resistance at 247.80 points by the middle MA5 BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate the resistance at 248.60 points by the middle MA5 daily BB10.
Technically, the indexes on the trading session today, Thursday (30/07) 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 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 244.80 and 244.00. If it fails at 245.30, then the next index is expected to tend to retest the 245.60 resistance level and continued up to the possibility of being in the 246.40 area.
Yen Slightly Strengthens After Japan Industry Data
Japanese yen strengthened slightly in early Asian trading session on Thursday after the industrial output figures were stronger than expected as well as the market digested the language of the Federal Reserve for the time today’s increasingly broad to estimate a rate hike this year, with some speculation that it could happen later than in December or the fastest in September.
In Japan, industrial output figures for the month of June rose 0.8% at the monthly level, is estimated to rise above 0.3%.
Later, BOJ board member Koji Ishida will address business leaders in Kyoto at 08.30 pm. Ishida is one of the four board members who oppose additional easing policy last October. Ishida will hold a press conference in Kyoto starting at 12:30 to 13:00 pm.
USD / JPY moving the range 123.95, down 0.01%, while NZD / USD was trading at 0.6658, down 0:10%, and the AUD / USD hovering at 0.7297, an increase of 0.03%.
On Thursday morning, Federal Reserve policy makers are not Rev the short-term interest rates from near zero levels at the FOMC meeting, but they seem to leave the policy statement the FOMC on track to raise interest rates before too long.
The Fed kept its benchmark interest rate, and is ready to move to hike interest rates, which were near zero level since December 2008.
Technically, today’s trading session on Thursday (30/07), the dollar yen pair has an opportunity to move in a positive trend.
A stronger yen is mainly expected to immediately retest the resistance at 124.90 minimum and maximum 125.50. Meanwhile, if the Yen could not break below 124.17 and then survive another alternative scenario the Yen likely to test support in 123.80 and 123.25 area.
