Nikkei Opened Weakens
Japanese stocks fell in the first trading day of the year as the yen traded near the highest level in more than two months and the interest of investors for risky assets fades after Saudi Arabia broke off diplomatic relations with Iran.
The Nikkei 225 fell by 0.7% to 18,818.58. The yen traded at 120.35 per dollar as oil prices surged after Saudi Arabia expel Iranian diplomats from the country after the attacks in the Saudi embassy in Tehran to protest the execution of Saudi Arabia to a prominent Shia cleric. The move marks the worst crisis in relations between the two countries since the late 1980s.
Analysts say that this natural sentiment for the beginning of the week. The execution has caused uncertainty on oil prices with anxiety and tension in the Middle East, and it will be a driving force for market sentiment. Volumes will remain low because of the small number of people who returned from vacation.
Technically:
Resistance: 18970 19150 19 310 High / Low: 18900/18775
Support: 18850 18750 18610 Running Price: 18900
Comment: To intraday trade today suggest Buy at the level of 18 808 stop and reversal when a break below the target level of 18 756 at the level of 19 185 and 18 510 targets at the level reversal.
Stronger Dollar Weakens Euro
After successfully winning the forex market in 2015 with the strengthening of up to 9 percent against major currencies, enter the trade early this morning (04/01/16) The US dollar moved back positive sentiment continued rise in interest rates by the Fed.
Although monthly dollar weakening naturally enough in December by 1.5 percent, all by 2015 had gained more than 10 percent against the euro; more than 5 percent against the pound and o, 4 percent against the yen.
The dollar index, which measures the strength of the dollar against six major currencies this morning successfully powerful rival by positive expectations of the market will plan the Fed will raise interest rates again in the first quarter of this year after last December has raised the first time in nearly a decade.
Strengthening this morning also received an injection of the strength of economic data will be released the evening session as the data from Markit PMI manufacturing and services sectors.
Furthermore, today’s market focused on European economic calendar (a combined 18 countries in the euro currency) and the US ISM Manufacturing PMI [22:00 pm]] will be released today.
Technically:
Resistance: 1.0890 1.0940 1.1000 High / Low: 1.0865 / 1.0842
Support: 1.0800 1.0750 1.0700 Running Price: 1.0844
Comment: To intraday trade today suggest dilevel Sell 1.0892 1.0928 stop loss at the level of the target at the level of 1.0798.
Gold Prices Rise Observed Potential Decline
Trading commodity futures exchange on Monday (4/1), the price of gold and silver was observed traded higher after the release of Chinese manufacturing report this morning.
Ongoing trade in the Asian session, gold futures for February delivery rose 00:23% observed at the level of $ 1.062.50 per troy ounce on the Comex divis, USA. Silver futures for March delivery rose 00:45% observed at the level of $ 13,865 per troy ounce.
The price of gold and silver looks tried to get up with trading higher earlier this week after the release of Chinese manufacturing report. Based on the official report released by Markit said that the Chinese Manufacturing PMI has decreased, which is a seasonally adjusted 48.2 in December from 48.6 in November.
However, in 2016 it started the greenback still dominates the demand strengthening due to influences from the Federal Reserve’s move has decided to raise the interest rate to 0.25% – 0:50% at a policy meeting in December 2015 last month.
Technically:
Resistance: 1066.50 1068.80 1071.20 High / Low: 1066.40 / 1061.80
Support: 1061.00 1059.40 1057.10 Running Price: 1064.50
Comment: To intraday trade today suggest Sell at level 1068.50 1070.80 stop loss at the level of the target at the level of 1058.10.
