Japanese Stocks Soar Supported
At the end of trading yesterday the Japanese stock market, the Nikkei index ended jumped 661.04 points, or 4.11 percent, at 16746.55. Strengthening the Nikkei index triggered the weakening yen.
At the end of yesterday’s trading, the Yen weakened against the US dollar. Pair dollar / yen traded at 113.90 per time 01:34 HK / SIN. A weaker yen is usually positive for the stock market that supports exporters because it increases their overseas profits when converted into local currency. The strengthening of the US dollar supported the US Manufacturing ISM data were positive.
At the close of trading yesterday, shares of Japanese exports rose. Toyota shares rose 3.92 percent, Sony shares rose 5.39 percent, and Honda shares rose 6.46 percent.
Heavyweight shares also gained. Uniqlo shares surged 6.45 percent, while mobile operator Softbank rose 1.90 percent.
In Asian trading, oil prices weakened. But shares of oil keeps rising. Index rose 3.58 percent, and Japan Petroleum shares rose 4.23 percent.
As for the Nikkei index futures surged 640 points monitored or 3.98% at 16.740, up from the previous trading at 16.100.
This morning will be released economic indicators data are expected to weaken. Data Foreign Investment bond Feb 27, Stock Investment by Foreigners February 27 and the Nikkei Services PMI in February, is expected to slow from previous results. Results of bad economic indicators potentially weaken the Yen.
Technically,
Resistance: 16910 16960 17020 High / Low: 16855/16645
Support: 16770 16630 16 510 Running Price: 16 845
Comment: For intraday trade today suggest Sell at the level of 16880 stop loss at the level of 16935 targets at the level of 16620.
AUD/USD Observed Weakened in Asian Session
The movement of the currency market on Thursday (3/3), the Aussie dollar was observed to weaken against the US dollar after the release of Australian economic fundamentals report this morning.
Ongoing trade in the Asian session, the pair AUDUSD observed to weaken 12:10% to trade at 0.7288. In US dollar index, which shows the performance of the greenback against a basket of six other major currencies tracked down 0:14 on the level of 98.20%.
Aussie dollar remains overshadowed pressure against the US dollar despite a decline in Australia’s trade balance deficit. In an official report released by the Australian Bureau of Statistics said that Australia’s trade balance deficit has experienced a decline, the seasonally adjusted -2.94B in January from -3.54B in December. On the import-export activities in the territory of Australia has shown a variety of movements, in which the export sector increased 1.0% in January and for the import sector is observed to fall 1.0% in January.
In the previous session, the market movement was volatile after the release of the labor market report in the US territory. In an official report released by Automatic Data Processing said that the US jobs have grown as much as 214K in February, where the results are beyond economists’ estimates.
Meanwhile, fundamental reports on this day will be filled with a variety of non-manufacturing activity report from the territory of China, Europe, UK, and USA. Meanwhile, US jobless claims report is also a key highlight of market participants this time.
Technically,
Resistance: 0.7325 0.7370 0.7410 Prev. High / Low: 0.7294 / 0.7281
Support: 0.7240 0.7200 0.7160 Running Price: 0.7286
Comment: For intraday trade today suggest at level Sell at the level of 0.7325 stop loss at the level of 0.7360 the target at the level of 0.7230.
Gold Rebounds After Stock Markets Fluctuate
Recover gold market trade after the US stock market fluctuated despite receiving private labor market report in February were better than expected. Precious metals prices higher after the Federal Reserve’s Beige Book concluded presenting a picture of slowing economic activity at the end of February.
Investors will get some US economic reports this week to gauge its impact on the stock market and the Fed’s monetary policy, with data on the most important Non-Farm Payrolls will be released on Friday.
Investing in Exchange-Traded Fund (ETF) based on the world’s biggest gold is still rising. Assets in the SPDR Gold Trust rose 1.15% on Tuesday to 786.20 tonnes, the highest level since September 2014.
Gold prices ended the trading day yesterday with a rise of 0.73% over the closing price of the previous session at the level of $ 1240.45 per troy ounce.
Furthermore, the price will be further strengthened to test immediate resistance at around 1248 while immediate support is near the area in 1232.
Technically,
Resistance: 1240.50 1243.20 1245.10 High / Low: 1242.90 / 1237.70
Support: 1235.00 1232.40 1229.20 Running Price: 1238.00
Comment: For intraday trade today suggest sell at the level of 1241.50 stop loss at the level of 1244.00 the target at the level of 1231.50.
