Nikkei Opens Up Triggered Weakening Yen
Japan’s Nikkei Stock Exchange at the opening on Wednesday (13/04) opened positively, when it was observed rose 243.80 points or 1.53 percent at 16172.59. Strengthening the Nikkei index triggered the weakening yen.
This morning monitored yen weakened against the US dollar. Pair USDJPY exchange rate was observed up 0.18 percent at 108.73.
A weaker yen is positive for Japanese exporters because it will increase their overseas profits when converted into local currency.
Shares of major Japanese exporters mostly rose in trading this morning, with Toyota shares rose 0.64 percent, Nissan shares higher by 1.71 percent and Honda added 1.48 percent.
As for the Nikkei index futures rose 260 points monitored or 1.63% at 16.190, up compared to the previous closing at 15.930.
Technically,
Resistance: 16210 16270 16330 High / Low: 16255/16060
Support: 16080 17990 17 880 Running Price: 16155
Comment: For intraday trade today suggest Sell at the level of 16190 stop loss at the level of 16240 the target at the level of 17 950.
Aussie Looks Flat Against US Dollar
The Australian dollar in Asian trade on Wednesday (13/4) appear weakened, driven from declining consumer sentiment.
AUDUSD flat at 0.7679 levels. Released by Westpac Banking Corporation, Australia’s index of consumer sentiment in April fell to -4.0% from the previous month at -2.2% level. On the previous day, reported by NAB, confidence in Australia observed that improved to a level of 6 from 3 in the previous month.
“The increase in business conditions not only show that Australia can survive amid global economic uncertainty, but also shows that the economic recovery in the non-mining sector proved developed this month,” said Alan Oster, NAB Chief Economist.
Technically,
Resistance: 0.7710 0.7750 0.7800 Prev. High / Low: 0.7692 / 0.7670
Support: 0.7630 0.7580 0.7540 Running Price: 0.7677
Comment: For intraday trade today suggest Sell at the level of 0.7700 stop loss at the level of 0.7735 the target at the level of 0.7602.
Gold Price Decline Thin in Asian Session
Gold prices fell slightly in early Asian trading on Wednesday with traders will focus on the data that will come out of China for further instructions.
The price of gold this morning weakened slightly by 0.2% at $ 1,257.90. Previous price touched its lowest level at $ 1,254.15.
Chinese trade data in March is expected to show a surplus of $ 30.85 billion, less than the surplus of $ 32.59 billion seen in the last month. For exports expected to rise 2.5% to an annual rate, while imports are likely to fall 10.2%.
Gold prices have immediate support level at $ 1.250 and the resistance level at $ 1.260.
Technically,
Resistance: 1258.10 1260.50 1262.00 High / Low: 1256.50 / 1254.00
Support: 1251.00 1249.40 1247.10 Running Price: 1256.20
Comment: For intraday trade today suggest Sell at the level of 1258.50 stop loss at the level of 1260.00 the target at the level of 1248.50.
