Nikkei Index Moves Up
Japan’s Nikkei Stock Index at the beginning of the opening of trading on Tuesday (15/02) opened down about 1 percent, but when it was observed rebounded, up 61.75 points or 0.39 percent at 16084.33. Strengthening weaker yen pushed the Nikkei index.
The Nikkei index at the beginning of the opening of trading opened negatively pressured the yen’s rise. The strengthening yen is usually a negative for exporters because it reduces their profits abroad as income when converted into local currency. Shares of major exporters such as Toyota, Nissan, Honda, and Sony traded down between 0.37 percent to 1.72 percent.
But this morning observed the US dollar rebounded against the yen. Observed US dollar rose 0.14% at 114.58. A weaker yen makes the Nikkei index back up.
On this morning that amplifies stocks Nikkei index is Toshiba Corp shares rose 8.36%, shares of MS & AD Insurance Group Holdings Inc. rose 3.43%, Sumitomo Heavy Industries Ltd. rose 3.00%, ITOCHU Corp. shares rose 2, 77%, Meidensha Corp shares rose 2.56%.
As for the Nikkei index futures tracked rose 90 points, or 0.56 %% at 16.030, an increase over the previous closing at 15.940.
Technically,
Resistance: 16180 16250 16400 High / Low: 16135/15810
Support: 16050 15980 15880 Running Price: 16110
Comment: For intraday trade today suggest Buy at level 16000 stop and reversal if break below 15940 level targets at the level of 16360 and 15710 at level reversal targets.
AUD / USD Recovering
AUD / USD has found the bid after the release of the RBA meeting summary.
AUD / USD has been trying to recover from the bottom side of the main recovery from lows below 0.6990 and 0.6983 in the sell-off recently from 0.7115 on dollar weakness. The main components with the rhetoric of RBA remains optimistic viewpoint, but there is a risk of negative side that Stevens was fully aware and say quite openly that they are cautiously optimistic. China is the biggest concern for the RBA
In summary the meeting, the market is looking bearish outlook between the cracks of optimism and that’s what we got today when it stated that the low inflation may offer scope to ease policy and risks remain to the slowdown in China as key to the prospects of trade, commodity prices , However, AUD / USD is able to stand on a stronger foundation, despite the rhetoric of caution, given that, overall, there is no urgency for the RBA to act while the local economy remains on track to grow under the current monetary policy and trade focused on current and short-term.
Technically,
Resistance: 0.7190 0.7230 0.7270 High / Low: 0.7176 / 0.7135
Support: 0.7110 0.7080 0.7010 Running Price: 0.7157
Comment: For intraday trade today suggest Buy at the level of 0.7100 stop loss at the level of 0.7065 targets 0.7198 at level.
Oil Prices Endeavor Stabling
World crude oil prices stabilized on Monday sought, after passing situation volatile trading last week. Oil price rose as expectations for trimming supply, but gains in oil prices is still limited as weak Chinese import data and the strengthening of the US Dollar.
Positive catalyst co-driven by the potential of negotiations between OPEC members, which usually spurred expectations of traders that OPEC may agree to cut world oil supplies. Oil prices had opened lower after China’s export data showed the rate of imports and exports in January plunged below estimates, thus spurring fears over China’s economic slowdown.
However his absence of US market participants due to a national holiday Presidents Day cause prices having trouble finding direction. Looking ahead, the pace of demand for gasoline has the potential to push up the price if it also hoist the rising pace of global crude oil demand.
Technically,
Resistance: 30.90 31.39 31.80 High / Low: 30.91 / 30.00
Support: 30.30 30.00 29.40 Running Price: 30.65
Comment: For intraday trade today suggest at level Sell 31.00 stop and reversal during a break above the 31.30 level targets at the level of 30.00 and target of reversal at the level of 31.90.
