Nikkei Still Positive However Shortly
The movement of Nikkei index of the Japanese stock market in early trading Thursday morning (1/10), appears to work by continuing the positive trend of the previous traded, due to the Japanese Yen is still under pressure, but a moment later the Nikkei index looks turn depressed by poor performance data of the domestic manufacturing industry.
Economic indicators released by the Tankan either on the data Tankan Large Manufacturing, Tankan Non-Manufacturing Outlock Q3, and the Tankan Large Manufacturing Outlook Q3, looks compact showed slower growth compared with the results of previous releases, but the data Tankan Non-Manufacturing Index Q3 and data Tankan All Big Industry CAPEX Q3 managed to show a moderate increase when compared with the results of previous releases.
In addition to data Tankan, it appears investors are also responding to the Foreign domestic investment data in the form of Bond and Stock, in which foreign investment in high sped week’s successful last September, to be ¥ 1.004,9B from the previous week’s releases at ¥ 514.0 B, as well as investments in the form of successful Stock improved by being – ¥ 191.18B from the previous release to – ¥ 1.420,1B. Until now, investors still await the results of domestic data releases including data Nikkei Final Manufacturing PMI in September last, which indicated will show growth slowed from the previous release at 51.7 basis points and is expected to be 50.9 basis points.
Amplifier Japanese stock market this morning is the stock GS Yuasa amounted to 6.89%, Mazda Motor 3.11% of the shares of Nissan Motor 2:56%, the stock TOTO 2:42%, shares of Hitachi 4:03%, shares of Panasonic 2:33%, Sony shares 2:54%, Mitsubishi Heavy Industries 2.84 %, Nikon 2.70%, shares SCREEN Holdings 2:58%.
Nikkei spot index opened higher this morning looked at 112.24 point or 0.65%, to 17500.39 points into the closing position at the end of trading on the stock exchange prior to the position of 17388.15 points and managed to record the highest increase was traded earlier at the position
Likewise, the movement of the index Nikkei this morning were also opened higher by 175 points, or 1%, to be 17 485 points from the closing position at the end of trading stock exchanges previously at position 17 310 points and managed to record the highest increase was traded earlier at position 17 490 points and the lowest previously at position 17 190 points.
Based on the results of the closure at the end of trading the stock market before, the analyst estimated that the movement of Nikkei index today will tend to continue strengthening traded before, by trying to break the first resistance at position 17 525 points with MA5 under BB10 daily, if the movement of the index broke through the first resistance then expected will try to penetrate resistance at the second position with 17 880 points MA5 middle BB10 daily.
If the movement of the index managed to turn around the direction of lower back, it is expected to try to penetrate the first support at position 17 185 points with MA5 under BB10 daily, if the movement of the index broke through the first support it is expected to try to penetrate the second support at the position 16.990 points with MA5 under BB10 daily.
Technically, the index on the trading session today, Thursday (01/10) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first resistance level of 17600 and 17650. If it fails at 17545, then the next index is expected to tend to retest the support level of 17500 and continued up to the possibility of being in the 17450 area.
Eurozone Back Deflation, Euro Slump
Eurozone again experienced deflation make the euro exchange rate is getting worse. Expectations the European Central Bank (ECB) will add monetary stimulus is increasing after following the report.
Eurostat reported euro zone consumer price index in September (year-on-year) released -0.1% or experiencing deflation, largely due to lower energy prices. Economists had forecast the consumer price index will stagnate 0%. Inflation in block 19 of these countries is below 0.5% since July 2014. The core consumer price index, which excludes energy and food, remained at 0.9% in September.
The euro zone again experienced deflation for the first time since the ECB released its asset purchase program in March.
Earlier the euro had been pressured by German retail sales data, which are surprisingly fell 0.4% in August, from July were up 1.6%.
Technically, the trading session today, Thursday (01/10), the pair Euro-dollar likely to move in a negative trend.
The weakening of the Euro mainly expected soon reexamine the minimum support at 1.1110 and maximum 1.1050. Meanwhile, if the Euro is able to break and hold above 1.1161, then another alternative scenario the Euro a chance to test the resistance at 1.1190 and 1.1240 area.
Gold Prices Continue Falling
Gold futures fell sharply after a speech by Federal Reserve Chairman Janet Yellen that hawkish for a rate hike.
The Comex division of the New York Mercantile Exchange, gold for December delivery fell $ 12.60, or 1:13% at $ 1.114.30 troy ounce. at one point, gold fell to its lowest level in two weeks, fell below $ 1,115 per ounce for the first time since 16 September.
Yesterday, ADP Nonfarm said NFP rose by 200,000 jobs in September, above analysts’ expectations at the level of 190,000. Optimism for a report on Friday its eagerly-awaited and will be closely watched by the Fed. Earlier this month, the Federal Open Market Committee indicated that he would like to see further improvement in the labor market before rising interest rates for the first time in almost a decade.
The US dollar index, which measures the greenback against other major currencies, jumped more than 0.4% to 96.56. In addition, the other on trade Comex, silver for December delivery fell 0.093 or 0.64% to 14,480 per ounce. Copper for December delivery surged 0.090 or 4.08%, to 2,342 a pound.
Technically, gold in today’s trading session on Thursday (01/10) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1110.33 and re-test the maximum level of 1105.73. However, if the price of gold is able to break and hold above 1115.40, the predicted gold prices could potentially test Resistance ie, 1117.40 and 1122.72.
