Visible Kospi Alert
Kospi looks difficult to maintain upward momentum over increasing cases of Ebola in the US and the emergence of caution ahead of the EU summit. Doctorate in New York, who was caring for Ebola patients in the US, tested positive for the Ebola and this is the first Ebola case in the US financial center.
Investors are also seen cautious awaits the meeting of the European Union where the French and the Italian government’s budget will be the focus. There are French and Italian budget anxiety can be rejected because it does not provide a comprehensive plan to reduce the ratio of budget deficit to 3% of GDP in the near future.
On the domestic front, the South Korean GDP data released this morning gives a mixed picture of the condition no.4 largest economy in the Asia. As predicted, South Korea’s quarterly GDP rose 0.9% in Q3, 2014; better than the publication of Q2 2014 was up 0.5%. However, South Korea’s annual GDP growth was only 3.2% in Q3, 2014; slower-than-expected 3.3% rise in Q2 2014 and the publication of which increased 3.5%. Kospi futures are now traded 243.75; try to stay away from a daily high level of 245.55.
Technically, the index in the trading session today, Friday (24/10) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, an early indication of a bullish index. In addition, RSI, on the M15 chart, is in the oversold area, cue upside.
It is estimated, the index test in advance the level of Support 240.90 and 238.50. If it fails at 243.70, then the next index is expected to tend to retest the 245.50 resistance level and continue until the area is likely to be 247.80.
Translucent 108 Dollar Against Yen After Unemployment Claims Data
The dollar rose sharply against the yen after the data on the average unemployment benefit claims in four weeks fell to its lowest level in 14 years, demonstrating the continued recovery of the US economy. USDJPY is currently trading at around 108.15 107.09 away from daily lows (Monex Trader platform).
US Labor Department reported the number of citizens who filed applications for unemployment benefits rose by 17,000 last week to 283,000. While the average of new claims in four weeks, which is considered to be more stable to describe the US job market trends, fell by 3,000 be reported to 281 000.
Dollar in trading yesterday successfully rebounded against the yen after US inflation showed an increase. The US Labor Department yesterday reported the consumer price index or inflation rose 0.1% from the month of August were down 0.2%, and better than economists forecast stagnant or 0%. Meanwhile, core inflation that excludes food and fuel in the calculation also rose 0.1%, lower than economists’ estimates of 0.2%. Inflation year-on-year in September rose 1.7%, the same as the previous month, and better than economists’ forecast of 1.6%. While core inflation year-on-year also recorded an increase of 1.7% according to economists’ estimates and the same as the previous month.
Technically, the trading session today, Friday (24/10), the dollar yen pair likely to move in a negative trend.
A weaker yen is mainly expected to immediately reexamine the minimum support at 105.10 and 103.50 maximum. Meanwhile, if the Yen was able to break and hold above 107.98, then another alternative scenario that is likely to test resistance Yen in 109.00 and 110.90 area. 
Gold Ends Down Post Global Economic Data
At the close of trading on commodity exchanges Thursday, gold futures ended fallen sharply after the release of a global economic data were optimistic build rate of growth of the global economy and driven up stock prices so that kept investors away from precious metals.
Gold for December delivery ended down $ 16.40, or 1.3%, at $ 1,229.10 per ounce. Gold futures were likely to find support at $ 1.207.30, with the highest resistance at the level of 1.270.10 per ounce.
Silver for delivery in December also ended down 32 cents or 1.8% to $ 17.23 per ounce.
The decline in the price of gold after coming under pressure from their profit-taking from traders in the short term and following a string of upbeat global economic data provide support for the improvement of global economic growth and stock prices soared.
Technically, gold at today’s trading session on Friday (24/10) potentially bearish, tested negative trend back, but prone to reversal. The RSI indicator is likely to re-test support channel and towards the oversold area, but the Bollinger Bands which began to widen, thus giving impetus to gold to the upside.
It is estimated that the price of gold immediately prior to test support at least in the area of 1213.50 and re-test the maximum level of 1208.10. However, if the price of gold is able to break and hold above 1228.80 then estimated the price of gold has the potential to test the 1230.90 and 1235.00 Resistance.
