Nikkei Opened Depressed
Japan’s Nikkei Stock Index at the beginning of the opening of the start of the week on Monday (11/04) opened positively, when it was observed down -205.36 points or -1.30 percent at 15616.16. Weakening Yen Nikkei depressed and negative reinforcement Japanese machinery orders data.
This morning monitored yen rose against the US dollar. Pair USDJPY exchange rate was observed to weak 0.15% at 107.91. A stronger yen is a negative for exporters because it affects their overseas profits when converted into local currency.
Shares of major Japanese exporters were mostly lower in early trading, with shares of Toyota fell 2.84 percent, Honda shares fell 1.74 percent and Nissan shares lost 0.51 percent.
This morning also the Japanese machinery orders data released in February. Machinery Orders MoM in February to record the results -9.2%, slightly higher than analyst estimates of -12.4%, but down considerably from previous results at 15.0%.
Likewise Machinery Orders YoY in February to record the results -0.7%, slightly higher than analyst estimates of -2.7%, but down considerably from previous results at 8.4%.
As for the Nikkei index futures tracked down -200 points or -1.26% at 15.630, down compared to the previous closing at 15.830.
Technically,
Resistance: 15720 15849 15950 High / Low: 15790/15565
Support: 15500 15480 15400 Running Price: 15625
Comment: For intraday trade today suggest Buy at level 15520 stop and reversal if break below 15470 and targets at the level of 15850 and 15300 is the reversal targets.
GBPUSD Back Gains
Pound trim its gains against the US dollar on Friday last week, after the release of economic reports that pessimistic, although sentiment toward the greenback remained fragile for the Federal Reserve to be wary of the rise in interest rates.
GBPUSD fell from 1.4140, the highest level of the session, to hit 1.4100 during European trading session.
The pair was likely to find support levels at 1.4004, the weakest level 6 April and the lowest level in a month as well as the resistance level at 1.4280, the highest level 5 April.
The statistics bureau England on Friday reported that manufacturing output fell 1.1% in February, compared to expectations for a 0.2% decline. Manufacturing production rose 0.5% in January, in which the figure was revised from a previously estimated to rise 0.7.%.
Technically,
Resistance: 1.4150 1.4190 1.4230 High / Low: 1.4128 / 1.4113
Support: 1.4070 1.4030 1.3980 Running Price: 1.4115
Comment: For intraday trade today suggest Buy at the level of 1.4100 stop loss at the level of 1.4064 targets at level 1.4198.
Gold Close Higher
Gold rose at the close Friday amid further indications of a slowing economy after the Federal Reserve Bank of Atlanta said the US GDP barely grew in the first quarter.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery settled at $ 1,242.70, up 5.20 or 0.42%. Silver for May delivery rose 0.202 or 1.33% to $ 15.360 per ounce. Copper for May delivery rose 0.010 or 0.46% to $ 2.086 per pound.
On Friday morning, The Atlanta Fed said that the forecast model GDP is now slashed its estimate for first-quarter growth to 0.1% from the previous estimate of 0.4%. Revisions were made following a report released by the US Census Bureau earlier on Friday, which focus on the sharp decline in wholesale trade inventories in February. For this month, wholesale sales fell, while auto inventories slumped 1.0%, suffering the biggest drop since September 2013.
Technically,
Resistance: 1246.50 1248.80 1250.20 High / Low: 1246.00 / 1243.80
Support: 1241.00 1238.40 1236.10 Running Price: 1244.70
Comment: For intraday trade today suggest sell at level 1247.00 and stop loss at 1249.50 and the target at the level of 1237.00.
