Powered Hang Seng Close Higher
At the close of trading yesterday, the Hang Seng index in Hong Kong Stock Exchange closed up 232.97 points, or 1.24 percent, to 19093.77. Strengthening the Hang Seng index pushed Wall Street gains and anticipation of the Fed meeting.
Wall Street closed higher at the close of trading yesterday, helped by rising oil prices and some positive corporate earnings reports, ahead of the Fed meeting statement on Wednesday. The Dow Jones Industrial Average closed up 282.01 points, or 1.78 percent, at 16,167.23. The S & P 500 closed up 26.55 points, or 1.41 percent, at 1,903.63. The Nasdaq index closed up 49.18 points, or 1.09 percent, at 4,567.67.
The Federal Open Market Committee begin a two-day meeting began Tuesday and is scheduled to release a statement yesterday. It is estimated that there is no change in interest rates but investors will be looking statements for insight into views of policy makers on the economic environment and subsequent tightening.
At the end of trading yesterday, shares were pressing the Shanghai stock exchange is stock Sands China Ltd. which rose 6.51%, shares of Henderson Land Development Co Ltd rose 5.53%, shares of Galaxy Entertainment Group Ltd rose 4.18%, shares of Want China Holdings Ltd. rose 4.10%, CNOOC Ltd rose 3.85%.
Meanwhile movement observed Hang Seng index futures rose 142 points or 0.75% at 19,043.00, up from the previous closing at 18,901.00.
Data release of US weekly crude oil inventories, which is indicated by the results of the consensus will be at 3.3m, down from the previous results at 3.979M.
Technically,
Resistance: 19050 19120 19200 Prev. High / Low: 19264/18922
Support: Closed 18620 18900 18810 Price: 18 971
Comment: To intraday trade today suggest Sell at level stop loss at the level of 19 068 19 118 18 723 at level targets.
Euro Correction Rise
Like most expected, the US Federal Reserve kept interest rates unchanged, but acknowledged many problems, as they say when monitoring the global economic and financial developments.
They also added that the job market improved further even as the economy slowed at the end of 2015, while the economy is expected to ensure the rise in interest rates only gradually. Overall, dovish, but many have been waiting for the market, resulting in a decrease in the dollar were limited.
Earlier today, German GFK consumer confidence for February exceeded expectations, scored 9.4 against 9.3 expected, and with reading the previous month. In the US, new home sales beat estimates with a 10.8% annual rate in December recorded a seasonally adjusted 544,000 units, inventories rose 2.6% in December to the highest level in six years, while the average price down 2.7% to rise 4.3% yearly.
EUR / USD traded as high as 1.0911 in European morning trade, but lowered half of the increase in the intraday due to soaring crude oil. Following the announcement of the dovish FED, commodities down, helping the pair EUR / USD extend movement to 1.0912.
Technically,
Resistance: 1.0940 1.0995 1.1040 Prev. High / Low: 1.0906 / 1.0896
Support: 1.0840 1.0800 1.0750 Running Price: 1.0903
Comment: To intraday trade today suggest Buy at the level of 1.0855 1.0818 stop loss at the level of the target at the level of 1.0949.
Gold Price Corrected Weakens
Yesterday’s trading commodity futures exchange, the price of gold and silver traded lower observed when middle market report on the results of the Fed’s policy meeting later in the morning.
The course of trading in the European session, gold futures for February delivery was observed to the natural decline of 12:08% to trade at $ 1.119.90 per troy ounce on the Comex division of the US. Meanwhile, silver futures for March delivery fell 0.61% has been observed with traded lower at the level of $ 14,470 per troy ounce.
Market sentiment is currently restrained in anticipation of the results of the Fed’s policy meeting later in the morning. It has depressed demand for the greenback continued to be under pressure and push the price of gold shot up since the beginning of this week.
The market has responded to the results of the Fed’s policy meeting, where they feel confident that the results will show the policy meeting of the Fed’s pessimism. The estimate has emerged as the US gross domestic product growth has indicated impairment in the fourth quarter which grew only by 0.8% after gaining 2.0% in the third quarter.
Meanwhile enters the American trade tonight, the gold price movement will be tested first when the market is faced with new home sales report on US soil. Survey of economists have estimated that that US new home sales to rise to 501K in December.
In line with the report, if the actual data showed US new home sales rise in the gold price may drop. Vice versa, if the actual data on US consumer confidence declined then it actually pushed the price of gold to rise naturally.
Technically,
Resistance: 1125.50 1127.80 1129.90 High / Low: 1125.30 / 1121.60
Support: 1120.00 1117.40 1114.00 Running Price: 1123.70
Comment: To intraday trade today suggest Sell at level 1125.55 1128.05 stop loss at the level of the target at the level of 1115.55.
