Stock Korean Ends Positive
At the close of trading on the stock exchange South Korea earlier in the week on Monday, the Kospi index closed up 14.90 points, or 0.74 percent, at 1,893.43. Strengthening the Kospi encouraged the strengthening of the won and rising crude oil prices.
Won currency strengthened against the US dollar. USDKRW pair weakening exchange rate recorded -0.26% at 1,193.26. This illustrates the won strengthened against the US dollar ahead of US economic growth in South Korea this morning.
Factors which also supports the increase in the Kospi is higher crude oil prices. Crude oil price West Texas Intermediate (WTI) closed last week rose 9.41 percent, while the price of global benchmark Brent crude oil rose 12.71 percent. During Asian trading hours on Monday, the price of WTI crude oil futures were up 1.21 percent at $ 32.58 a barrel, while Brent rose 1.65 percent at $ 32.71 per barrel.
Respond strengthening oil prices, shares of oil rose. S-Oil South Korea increased 0.88 percent.
Shares of other corroborating South Korean stock exchange at the end of the day yesterday Trafficking is Jico shares rose 22.19%, shares rose 13.87% Samyoung Chemical, Fine Chemical HUCHEMS shares rose 12.94%, Shinsung Solar Energy shares rose 12 12%, the stock rose 11.73% Feelux.
As for the Kospi index futures rose 1.50 points observed or 0.65% at 231.20 positions, up from its previous close at 229.70.
Data released this morning will be South Korea’s economic indicators were mixed.
GDP Growth Rate QoQ Q4 Adv, is indicated by the results of the consensus will be at 0.7%, down from the previous 1.3%.
GDP Growth Rate YoY Q4 Adv, is indicated by the results of the consensus will be at 3%, up from the previous 2.7%.
Technically,
Resistance: 227.90 228.65 230.80 Prev. High / Low: 229.60 / 227.30
Support: 227.00 226.30 225.10 Running Price: 227.40
Comment: To intraday trade today suggest at level Sell 228.35 stop and reversal while break above the 229.55 level targets 226.30 and targets at the level of reversal at the level of 232.80.
Sterling End 3-Day Rally
Pound stop during the last three days of gains against the dollar and weakened against the euro due to the worsening global economy reduces the prospect of the first interest rate hike from the Bank of England.
Sterling fell against all 16 major currencies as oil submit biggest two-day gains since 2008 and European stock markets struggled to rally lately. A report on January 28, is likely to give a mixed picture of the UK economy, with growth running faster in the fourth quarter, but slower than a year ago, was shown in a Bloomberg survey of analysts.
Uneven recovery and the UK that could potentially come out of the European Union has eroded in sterling haven status in times of crisis. Investors are increasingly turning to the euro to shelter from market turmoil, pushing the single currency to strengthened 3% against the pound in 2016. It was the opposite for the debt crisis in the Euro zone, while sterling posted an annual increase in each year from 2009 to 2012.
Currency analyst at Commerzbank AG in Frankfurt said that sentiment may deteriorate further with oil prices back down today, pushing the pound lower. Sterling in the past regarded as a safe haven, but not for the moment – in the midst of the many triggers, particularly China, emerging markets and lower oil prices, as well as the delay expectations of a rate hike.
Technically,
Resistance: 1.4250 1.4300 1.4355 High / Low: 1.4251 / 1.4205
Support: 1.4170 1.4120 1.4070 Running Price: 1.4214
Comment: To intraday trade today suggest at level Sell 1.4225 stop loss at the level of 1.4260 the target at the level of 1.4130.
Gold Back Above $ 1,100
Gold prices ended the US trading session with rising high enough and pushed back above $ 1,100 on Monday.
Some safe-haven demand amid the pullback visible world stock markets.
European stock markets seen under pressure at the beginning of the week, especially as crude oil prices were affected by the sell back. Asian stock markets rose following a rise in US stocks on Friday. US stock indexes on Monday returned overshadowed by selling pressure.
Other key outside markets is the condition of the US dollar index, which dropped a moderate, who also became one of the elements bullish for the precious metals market.
The FOMC will meet on Tuesday and ends on Wednesday, followed by a later statement. Market watchers estimate there will be no change in interest rates at this meeting, but the statement issued after the meeting, this will be examined very closely. Many market observers agree that the world economy and financial markets has become an anxiety since the last FOMC meeting in mid-December.
Technically,
Resistance: 1110.50 1112.10 1114.00 High / Low: 1108.80 / 1106.70
Support: 1106.00 1101.40 1098.80 Running Price: 1108.20
Comment: To intraday trade today suggest Sell at level 1110.00 stop loss at the level of 1112.50 the target at the level of 1100.00.
