Nikkei Still Lulled Reinforcement Wall Street
Nikkei up since the beginning of trade continued relay strengthening of European markets and Wall Street despite the yen still rose slightly below the psychological level of 120. Overnight European indexes terkatrol strengthening crude oil prices. While Wall Street collect modest gains after the minutes meeting showed officials prudence determines the time change monetary policy in the US and wanted to be sure the growth of inflation is right in the path to the target of 2%.
Today the main attention focused on the Japanese stock investors retailer, Fast Retailing. Fast Retailing sharp drop to the bottom of gains in the Nikkei 225 index. Shares of Fast Retailing fell nearly 9%, the steepest decline since April 2014. The parent company of Uniqlo apparel brands failed to meet its own predictions, operating profit until the end of August only amounted to 164.5 billion yen ($ 1.37 billion), is far from own projections that profit of 200 billion yen.
Today the stock markets of Asia, including Japan, will return forward movement of the index Shanghai Composite China. Yesterday the Chinese stock market to collect a profit of 3% in late trading.
Technically, the index on the trading session today, Friday (09/10) 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, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first resistance level of 18370 and 18440. If it fails at 18 315, then the next index is expected to tend to retest the support level of 18280 and continued up to the possibility of being in the 18225 area.
Sterling Turned Weakens After BoE Decision
Sterling earlier rose against the dollar has now turned lower after the Bank of England monetary decisions (BoE), coupled with US economic data apiknya make sterling more depressed.
As expected by many, BoE keep interest rates of 0.5% and the asset purchase program by £ 375 billion, but the central bank expects UK economic growth will slow in the third quarter of this year. UK services activity contributing 3/4 of the total gross domestic product slowed to the lowest level since 2013 in August. The minutes of the meeting showed policy makers saw economic growth “slowed”, but overall the domestic economy is still strong.
On the other hand, the US Labor Department reported the US Labor Department reported the number of initial claims for unemployment benefits fell as much as 13,000 to 263,000 in the week ended October 3, below economists’ estimates as many as 274,000 figure was the lowest since mid-July, when it touched the lowest level in 42 years ,
Technically, today’s trading session on Friday (09/10), pound sterling-dollar pair has an opportunity to move in a positive trend.
The strengthening of the pound sterling mainly expected soon reexamine the minimal resistance at 1.5410 and maximum 1.5470. Meanwhile, if the pound sterling was able to break and stays below 1.5360 then another alternative scenario, ie the pound sterling likely to test support in 1.5320 area and 1.5270.
Gold Back Weakens After Fed Minutes
Gold prices turned lower on Thursday after minutes from the Federal Reserve meeting showed policy makers anxiety for signs of a global economic slowdown, although it does not materially change their views.
Although the economy was judged to have approached a sufficient condition to cope with a rate hike in September, Fed policy makers are trying to be more prudent to wait for evidence that the global economic slowdown will not affect the US, according to minutes of a meeting last September 16 to 17. Delay interest rate increases should be pushed gold in the short term.
Expectations about the pace and timing of interest rate hikes the US central bank may affect nlai and the appeal of gold. Bullion has gained itself recorded during the previous four trading sessions, on speculation that rising US interest rates will be delayed following a disappointing employment report.
While some analysts said the pressure on the precious metal is also coming from Chinese traders, who do some profit taking on the recent rally after a holiday ending the “Golden Week”.
Technically, gold on the trading session today, Friday (09/10) potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Band begins to shrink, thereby 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 1147.10 and re-test the maximum level of 1152.87. But if the gold price could not break and stays below 1142.60 then predicted gold prices could potentially test the Support 1140.78 and 1135.40.
