Hang Seng Opened Down
After rising, now Hong Kong’s Hang Seng on opening tracked down on Tuesday (14/4).
Hong Kong’s Hang Seng Index fell 1.2% to 27,688.26 level, the H-share index fell 2% to as low as 14,297.28, the Shanghai Composite index level flat to 4,118.60. Meanwhile, many Hong Kong Company based in mainland China have attract foreign investors to the country.
Yesterday, the Chinese trade data which plummeted, the Hong Kong stock was still soaring. China’s economic growth slows to 7 percent in the fourth quarter.
Hong Kong has managed to close higher which is almost close to an increase of 3% to be at a high level 7 years, although amid a decline in trading activity in the territory of China.
The Hang Seng Index was closed up with recorded an increase of 2.7% in the level of 28.016.34, where trading volume reached 4.9 billion shares. While in China Enterprises index has closed higher with an increase of 4.3% in the level of 14.590.45.
In stock movement in the territory of Hong Kong, the company GOME was observed to increase by 22.7%, Ping Shan Tea rose by 4.2% and for the observed SMIC shares fell by 1.1%.
Meanwhile, according to an official report released by the CGAC stated that China’s trade surplus narrowed to a seasonally adjusted 3.1B in March from 60.6B in February.
Technically, the index on the trading session today – Tuesday (14/04) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to raise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 27 610 and 27 717 27525. If you fail, then the next index is expected to tend to retest the resistance level that is 27 760 and continued until the possibilities are in the area of 27 825.
Fundamental Analysis Pound Up Thin But Not Stable
British Pound exchange rate on the day (01:56:13 GMT, Tuesday, April 14, 2015) moved higher against the US Dollar. GBPUSD opening price is at 1.4669 in early trade (0000 GMT), and the currency has gained about + 1 pips or about + a 0.01% and the value of rolling was observed to be at 1.4670.
Positive sentiment towards the currency Sterling seems to increase after the British Retail Consortium said that the performance of the retail trade in the UK domestic market increased.
The development is shown by the increase in economic indicators BRC Retail Sales Monitor y / y which grew to number 3.2% of the value of the previous period is 0.2%. British Pound exchange rate was observed to move up but still not stable to respond to these developments.
Analyst suggests daily forex fundamental analysis Pound exchange rate that the normal range on the GBPUSD pair is estimated to have the support level at 1.4596 and resistance level at 1.4713.
Technically, the pound sterling-dollar pair on trading session today – Tuesday (14/04) likely to move in a positive trend.
The strengthening of the pound sterling primarily expected soon reexamines the minimum resistance at 1.4735 and 1.4825 maximum. Meanwhile, if the Pound was unable to break and stays below 1.4677, then estimated another alternative scenario will be Pound chances to test support in 1.4625 and 1.4580 area.
Gold Slips Because Strengthening Dollar, US Interest Rate In Outlok
Gold prices slipped for the fourth time in five sessions on Monday, as the dollar strengthened after the recent comments from Federal Reserve officials that the central bank may see interest rates rise faster.
Fed officials Jeffrey Lacker on Friday reiterated his call for the US central bank to consider a rate hike in June and said that it did not have to feel embarrassed for them readjust if economic data requires it.
Separately, San Francisco Fed President John Williams told Reuters that the US labor market is improving, the risk of unexpected in a decrease in the recovery after the Fed Raise interest rates is receding.
“Our economists think that a rate hike in June, while this possibility is unlikely,” Barclays said in a note. “However, the gold market was under pressure by not setting aside of the US rate hike in June.”
Spot gold prices fell nearly 1 percent to a session low at $ 1,196.23 / onz, before recovering to around $ 1.199, down by 0.7%. US Gold prices ended down $ 5.30, or 0.4%, at $ 1,199.30 / onz.
Georgette Boele, commodities analyst at ABN Amro said that the fact that we stuck the range of $ 1.200 / onz which is related to the movement of US interest rate speculation; it is only a matter of time until the lowest level in the range of $ 1.140 is broken down again.
Investors tend to avoid gold, when the market expectations indicate that US interest rates are likely to rise in the near future.
Technically, gold trading session today, Tuesday (14/04) the potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1206.50 and re-test the maximum level of 1211.25. However, if the price of gold was unable to break and stays below 1201.00 then estimated the price of gold could potentially test the 1209.10 and 1207.50 Support.
