Few Dollars More High Of Euro
The dollar was slightly higher at the close of the session on Thursday, extending gains from earlier in the session against the euro after the emergence of a spate of strong US economic reports.
The US Dollar index which measures the strength of the dollar against six rival currencies, rose 0.44% to 96.6960 in recent trading. But still was down 1.1% in a weekly basis. EURUSD euro dropped about 0.1% from the level of $ 1.1156 late Wednesday and settled at the level of $ 1.1145 in New York. Meanwhile, the dollar USDJPY rose 0.1% against the Japanese yen, up from 124.25 yen late Wednesday and was trading at 124.43 yen.
A report on retail sales in July showed a seasonally adjusted increase of 0.6% last month, just below the consensus forecast for growth of 0.7%. But the figures for June and May was revised higher.
The data are generally strong sales increases the likelihood that the Federal Reserve policy makers will opt to raise interest rates next month, said Jameel Ahmad, chief market analyst at FXTM.
Higher interest rates are likely to increase the value of the dollar by increasing the return on assets denominated in dollars.
Technically, the trading session today, Friday (14/08), the pair Euro-dollar likely to move in a negative trend.
The weakening of the Euro mainly expected soon retest the support at 1.1090 minimum and maximum 1.1025. Meanwhile, if the Euro is able to break and hold above 1.1144, then the other alternative scenario that Euro likely to test resistance in 1.1170 and 1.1230 area.
Gold Weakens in Asia In Session Central Market Impact of Devaluation Expect Yuan
The price of gold was slightly weaker in the Asian session on Friday as investors were watching for changes in the economic outlook for Asia after China’s surprise devaluation this week.
At the current price of spot gold was trading down 0:09% in the range of $ 1.114.60 / onz at 8:29 pm.
Overnight, the price of gold eliminate some of the gains of the surge on Wednesday, as investors booked profits obtained from the previous session and also after the People’s Bank of China insisted on telling the market that there is no basis for the further devaluation of the yuan.
Although there are more than PBOC effort to stabilize its currency decline, the U SD / CNY is still near its highest level in four years at the level of 6:40 after China’s central bank cut the benchmark rate of the yuan exchange rate amounted to 1.1%.
Technically, gold in today’s trading session on Friday (14/08) 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 1108.10 and re-test the maximum level of 1103.25. However, if the price of gold is able to break and hold above 1113.10, the estimated price of gold could potentially test the Resistance 1115.10 and 1120.50.
Nikkei Fell Back
Starting the Japanese stock market trading Friday morning (14/8), the Nikkei index fell back from the previous trading gains triggered by conditions that occur in the large port of Tianjin, China. The port exploded Wednesday (12/8) evening and is also associated with several Japanese companies such as
Toyota Motor, Mazda Motor, Isetan Mitsukoshi Holdings and Fuji Heavy Industries, which damaged more than 100 new vehicles.
These events make the stocks above natural decline, especially Isetan Mitsukoshi which fell significantly to 0.8%. Several other major stocks fell as stocks Komatsu and Hitachi Construction Machinery fell 0.9 and 1.2 percent respectively.
Nikkei index opened lower in the morning 0.4% at 20518.36 positions of the previous trading closed at 20570.99 points from the previous closing position traded at 20392.77 points position and managed to record highs today traded at 20633.91 points and the position lowest at 20306.98 points.
For this morning index also opened lower than the previous trading 20 565 20 630 points from the closed position before closing was trading at position 20 165 points and reached the highest traded today at position 20 645 points and the lowest at position 20 285 points.
The next trading day, the analyst expects the Nikkei will remain in the sales area also confirmed the strengthening of the yen in early Asian trading this morning. So technically, today the Nikkei will move down to the MA 3 daily at level 20445. If you do not break the level 20 445, Nikkei can go up to a level of 20570 in the middle bolinger 5 and 11 Daily. But if it breaks the level of the Nikkei will approach 20 445 20 246 on bolinger level below 11 Daily.
Technically, the index on the trading session today, Friday (14/08) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first resistance level of 20 610 and 20 555 20660. If it fails in, then the next index is expected to tend to retest the support level of 20510 and continued until the possibilities are in the 20450 area.
