Crude Oil Supported Kospi Index
At the opening of stock exchange trading South Korea earlier in the week on Monday (02/29), the Kospi index opened positive, when it was observed rose 4.07 points, or 0.21 percent, at 1924.23. Strengthening the Kospi index pushed higher crude oil prices.
In the Asian session this morning, the price of crude oil futures West Texas Intermediate (WTI) for delivery in April, erasing losses of more than 0.4 percent to trade up 0.15 percent at $ 32.83 per barrel. US crude oil futures rose about 3 percent last week, while the global benchmark Brent crude oil rose about 6.33 percent for the week, ending at $ 35.10 per barrel.
In early trading this morning, stocks are stocks that strengthen Korea Flange which rose 8.52%, Songwon Industrial shares rose 7.41%, Eugene Investment Securities shares rose 6.69%, shares rose 5.93% Sc Engineering , Kyobo Securities shares rose 5.85%.
As for the Kospi index was observed futures rose 0.45 points or 0.19% at 236.25, up from its previous close at 235.80.
This morning has been released economic indicators data Business Confidence record the results of the February 63, down from the previous 65.
Technically,
Resistance: 236.90 237.30 238.10 Prev. High / Low: 236.85 / 234.90
Support: Running 235.50 236.25 236.90 Price: 236.65
Comment: For intraday trade today suggest dilevel Sell 237.50 stop and reversal during a break above the 237.75 level targets at the level of 236.00 and target of reversal at the level of 238.90.
USDJPY Observed Increase
The movement of the currency market on Monday (29/2), observed yen strengthened against the US dollar after the release of a variety of reports Japan’s economic fundamentals this morning.
Ongoing trade in the Asian session, the pair USDJPY moved down 0:17% to 113.82. While the pair EURJPY observed to weaken 12:26% to 124.31 and GBPJPY weakened 12:33% to 157.64.
Observed moving Yen has strengthened against some other major currencies when the various results reported today Japan’s economic fundamentals. Based on the official report released by METI said that Japanese retail sales decreased by 0.1% in January after falling by 1.1% in December.
At the same time, METI also reported that the results of Japan’s industrial production rose 3.7% in January after a natural decline 1.7% in December and on an annual basis, the results of Japan’s industrial production fell 3.8% in January after falling 1.9% in the month December.
However, last week the movement of USDJPY has managed to increase weekly by touching its highest level at 113.97. The increase has been influenced by the improved economic growth in the US territory. Based on the official report released by the Bureau of Economic Analyst says that the US gross domestic product growth rose 1.0% in the fourth quarter than previously experienced an increase of 0.7%.
Meanwhile, in a separate report more released by the Bureau of Economic Analyst said that the personal income of Americans rose 0.5% in January after gaining 0.3% in December and for personal spending US residents rose 0.5% in January after remaining 0.0 % in December.
Complementing trading last week, a report from the University of Michigan said that US consumer sentiment has increased, which is a seasonally adjusted 91.7 in February from 90.7 in January.
Technically,
Resistance: 113.90 114.25 114.65 High / Low: 113.85 / 113.53
Support: Running 112.10 112.80 113.10 Price: 113.54
Comment: For intraday trade today suggest dilevel 113.70 Sell 113.95 stop loss at the level of the target at the level of 112.70.
Oil Weakens, But Print Strengthening Two-Week Streak
Oil turned lower on Friday, but was still able to record weekly gain. Hopes for a decline in global oil production become a performance booster oil. Sentiment was positive sentiment also came from the disruption in oil pipelines Iran and Nigeria are estimated to reduce the supply of more than 800,000 barrels of oil per day in the market, and it will last at least until the next two weeks.
Companies Baker Hughes reported the number of rigs operating in the US decreased by 13 last week, to 400. At the same time last year, the number of rigs akhif many as 986.
Oil briefly rose to a near two-month high after data showed the US economy grew 1.0% in the fourth quarter of 2015. The increase is a result of the revision of the initial release of 0.7%, and broke into a 0.4% drop forecast by economists.
Technically,
Resistance: 33.00 33.60 34.10 High / Low: 32.95 / 32.51
Support: 32.30 31.70 31.10 Running Price: 32.84
Comment: For intraday trade today suggest Buy 32.00 stop loss at the level of 31.70 at the level of the target at the level of 33.70.
