Nikkei Started In Zone Negative
Japanese stocks in early trading on Tuesday (12/01) negative opened, tracked down -225.71 or -1.28 percent at 17,472.25. A weaker Nikkei depressed weakening crude oil prices.
Crude oil prices fell back sharply at the close of trading on Tuesday before dawn (12/01) at a price plunge to a new position 12-year lows depressed Chinese stock market slide. The price of West Texas Intermediate crude oil (WTI) stood at 31.41 dollars a barrel, down $ 1.75, or 5.28 percent. While the price of Brent crude oil futures fell by $ 1.99 at 31.56 dollars per barrel.
Responding to the drop in crude oil prices in early trading today, after a day off Monday, mining stocks fell 4 percent and the oil and coal sector fell 3.37 percent.
With the dollar-yen traded lower at 117.54 yen, a safe haven currency, saw some gains amid ongoing market turmoil. The main export-oriented stocks, which depending on the dollar-yen pair, such as Toyota, Nissan, Sony and Mitsubishi Electric, all traded down.
This morning also has released the data indicator of the Japanese economy.
Record the results of November Current Account $ 1143.5 billion, down from the previous $ 1458.4 billion, but rose from the consensus at $ 858.5 billion.
Bank Lending (YoY) in December in the position of 2.2%, down from the previous result, also the result of a consensus at 2.3%.
As for Nikkei futures observed negative, down -220 points or -1.24% at 17.470, down compared to the previous closing at 17.690.
This afternoon will be released other economic indicator data
Consumer Confidence in December, indicated by the results of the consensus will be at 42.3, down from the previous 42.6.
Eco Watchers Survey Current in December, indicated by the results of the consensus will be at 46.7, up from 46.1 the previous results at.
Technically,
Resistance: 17450 17525 17600 High / Low: 17540/17345
Support: 17300 17220 17050 Running Price: 17 385
Comment: To intraday trade today suggest Sell at the level of 17 420 stop loss at the level of the target at the level of 17110 17470.
Pounds Potentially Rebound
Sterling restore trade against the US dollar after dropped during a 9-session losing streak. But without economic data can support the recovery, Sterling still vulnerable to weakened mainly by the strong market expectations the Bank of England (BoE) in no hurry to raise interest rates.
Sterling is one of the major currencies that give the worst performance in the new year as investor pessimism related to the British central bank’s monetary policy and the uncertainty of its membership in the European Union.
The main highlights of this week is the BoE monetary policy meeting and the minutes of meetings will be released alongside the rate decision. Market assesses the central bank will repeat dovish statement in December mainly on the inflation growth will be hampered falling global oil prices. Some market participants even considered a member of the monetary Policy Committee (MPC), which in some previous meetings to support the increase in interest rates, will change the preference. If it happens, Sterling may decline.
Technically,
Resistance: 1.4580 1.4630 1.4700 High / Low: 1.4559 / 1.4531
Support: 1.4500 1.4450 1.4340 Running Price: 1.4535
Comment: To intraday trade today suggest at level Sell 1.4545 1.4580 stop loss at the level of the target at the level of 1.4450.
Gold Experiencing Pressure
US Payroll figures rise even higher than the initial estimates, would be a strong signal possible rate hike from the Fed Fund Rates further. On the other hand, China’s economic growth is still alarming also have exacerbated the sell Chinese stocks in a variety of the world’s major exchanges. Both of these sentiments pull them off the current gold price.
Gold prices swung up and down after posting the best weekly performance since last August, where the collapse of Chinese stocks has been a supporter sentiment rising gold prices. While strong US employment data on the other hand be a barrier to higher gold prices further. US Payroll numbers increased by 292 thousand, higher than expected. China’s own shares slumped to the lowest since last September, this is the worst action throughout the last year.
Fears of further collapse of stock markets, prompting investors to buy gold investment secures an investment security assets. Last weekend, the investors take action to buy the biggest in Gold ETF, as a return of buying back since 10 December. Number of Gold ETF holdings rose by 9.1 metric tons to 1475.3 tons after the previous day rose as much as 8.1 metric tons.
Employment data for a wage or salary increases, as reported by the US Department of Labor. This figure is even better than earlier market estimates were reportedly passing by Bloomberg. Recent data for December is considered to be a strong signal for raising the benchmark interest rate, Fund Rates by the Federal Reserve. Of course, this interest rate rise will strengthen the US dollar exchange rate and deliver a blow to the gold price, at least the data is a stumbling block to the rate of increase in the price of gold today.
This year, the price of gold has risen in price by 3.9% following an increase in market concerns will buramnya future Chinese economy that has made a massive selloff in the stock market for Chinese stocks. The positive sentiment for gold prices also came from political tensions Middle East region and North Korea’s nuclear threat. This makes investors refrain from taking greater risks.
Investors re-focused their attention on US monetary policy. This year at least expected to be between 3 to 5 times the US central bank, the Federal Reserve will raise interest rates. Of course, the US dollar will be more likely to be stronger, the currency becomes a safety asset investment, a safe haven by itself. The US dollar became a contender for gold as an investment security purposes by investors. No doubt, the gold price this year is also likely to still be down even to below $ 1,000 per ounce.
Indeed, amid an increase in US labor sentiment, the price of gold is still promising potential for further increases. Crucial point which will be further resistance level is at the forefront of the movement of the price of gold in the last 100 days, $ 1,109. The price of gold traded in the range of $ 1,102.23 per ounce, although the price rose to $ 1,108.65.
Technically,
Resistance: 1097.10 1099.60 1102.40 High / Low: 1096.90 / 1092.90
Support: 1093.70 1090.00 1087.40 Running Price: 1095.20
Comment: To intraday trade today suggest Buy at level 1090.20 1088.00 stop loss at the level of the target at the level of 1100.20.
