Nikkei is expected to Nikkei is expected to strengthen in line with his weaker Yen
This morning the Nikkei index was observed at the level of 16 620 rose 17 points, or about 0.8% when this article was made. Yen versus the dollar itself is still in the price of 108.98 per dollar. Had gained some today. On the other hand, American stock index rose to its highest level since early last year, the market was optimistic that the American economy is strong enough to sustain the interest rates will be increased soon Fed.
The analyst of currency in Japan Asia Securities Group in Tokyo said that the current market participants look towards the movement of the US stock index recorded a significant increase, which would give effect to the positive sentiment of other stock indexes, including therein the Japanese stock index.
Shinzo Abe’s decision to postpone the tax increases in the next year and raise the income of the health sector is considered the market as a positive step to be able to pursue the inflation target of 2 percent. Which means the Japanese import sector will increase this year, in line with the policy.
On the other hand, oil prices moved higher and closer to the price of $ 50 per barrel this afternoon supported by positive expectations of the results of the OPEC meeting today. Oil traded yesterday weakened to the price of $ 47 per barrel before it finally closed higher on American trading session supported by an American oil prices rose because the increasing number of market consumption.
Technically,
Resistance: 0.7234 0.7238 0.7244 High / Low: 0.7269 / 0.7200
Support: 0.7229 0.7225 0.7220 Running Price: 0.7228
Comment: For Intraday trade today suggest Buy 0.7244 stop loss at 0.7214 level targets at 0.7261 level.
Aussie rebounded from the low
Value Aussie rose on Friday in Asian trading, because getting a boost from upbeat services survey, compared with the yen led to weak wage data as the market appeared more focused on China PMI Data Caixin.
AUD / USD was trading at 0.7237, up 0.11%, while the USD / JPY is trading at 108.95, up 0.07%. EUR / USD was trading at 1.1155, up 0.02%.
Australian AIG services index rose to 51.5 for May, compared with the previous month at 49.7 points in April, placing the indicator in the expansion area.
Capacity utilization fell in May and the price action remained silent, showed a lack of inflationary pressure. Expansion is mainly concentrated in three of the nine service sub-sectors, said AI Group Chief Executive Innes Willox.
The US dollar index, which measures the strength of the dollar against six other major currencies, was quoted down 0.01% to 95.55.
Overnight, the dollar remained stable against other major currencies on Thursday after the release of US employment data, and as European Central Bank President Mario Draghi warned that inflation will remain low for some time.
Technically,
Resistance: 16700 16717 16748 High / Low: 17260/16430
Support: 166 640 16 625 16 610 Closed Price: 16660
Comment: For intraday trade today suggest Buy at the level of 166 748 stop and reversal if the break above 16815 level targets at the level of 16 779 reversal.
Gold prices rose in Asian markets this morning
Gold drifted lower on Friday in Asia as investors remain cautious before the Federal Reserve this month a review of the interest rate. On the Comex division of the New York Mercantile Exchange, gold for August delivery fell 0.19% to $ 1,210.25 per troy ounce.
Silver for July delivery fell 0.31% to $ 15.975 per troy ounce. Copper for delivery in July, rose 0.05% to $ 2.069 per pound.
Overnight, gold gradually fall in the dollar is relatively flat, due to the more folus market participants at a meeting of the European Central Bank and OPEC, which expires Thursday, without giving major policy changes.
Gold entered its worst month since the beginning of the year when the precious metal fell more than 5%, as investors followed a strong suggestion from the Federal Reserve will raise short-term interest rates at some point this summer. However, gold is still up more than 14% since the beginning of this year, holds the advantage of the strongest first quarter in more than a decade.
Technically,
Resistance: 1210.00 1210.85 1211.65 High / Low: 1217.48 / 1206.70
Support: 1207.68 1204.57 1199.63 Running Price: 1207.90
Comment: For intraday trade today suggest Buy 1210.00 1208.30 stop loss at the level of the target at the level of 1213.30.
