Euro Benefited From Weakening Yen. The single currency Euro performed solidly in the range of $ 1.34 in early trading last week (Monday, 28/01) is mainly dominated by the strengthening of the Euro against the Yen - Japan. A weaker yen lately came after Japan's Finance Minister - Taro Aso denied foreign critics who accuse the authority of central Tokyo manipulating its currency in order to benefit Japanese exporters fell. But Aso explained that the fall of the yen in recent months is a side effect of his country's struggle against deflation that has long plagued the Japanese economy. Aso and Finance Minister's comments came amid talks that lead to international tension surrounding competitive currency devaluations among the world's developed countries. In addition, the data rate of German business confidence surged (release Friday, 25/01) also support the movement of Euro. A common currency used by 17 countries, observed the range 1.3445 to 1.3471 after limited skyrocketed. Meanwhile on Friday last week, scored the highest Euro 1.3479 and closed at 1.3460. Today the market will pay attention to the eurozone economic data - money supply and private lending figures are expected had passed.
Ahead of FOMC, Gold Prices appreciation
Short-term focus for gold investors this week is the FOMC meeting and Friday's nonfarm payrolls of data (2501), according to Barclays analyst reports. Mentioned that physical buying by China helped push gold prices but more demand from other countries is expected to strengthen the gold price gains. The rise in gold prices may also be limited by investor enthusiasm for equities, clear bank. Gold support level at $ 1.650 per troy ounce and $ 1.625 / oz while the resistance level at $ 1.676 / oz, and 1.696 USD / oz. The price of gold at $ 1,661.60 / oz, up 1.1% from its closing level. The price of gold at $ 1,661.20, up $ 1.90 from the NY close. March Nymex crude oil futures contract rose 17 cents to $ 96.05/barrel.
Performance Charmingly Asian stocks dampened Profit Taking
Most regional markets moving up with the Nikkei index fell after this morning was perched above the level of 11,000 for the first time since 30 April 2010.
- Nikkei -0.8%
- HSI +0.4%
- Kospi -0.4%
- Taiex +0.5%
- Sensex flat
- Shanghai Composite +1.8%
- STI +0.2%
- NZX-50 +0.1%.
Australia Markets closed for a holiday. In the forex market, currency movements relatively stable as the market waited for this week's FOMC meeting and the release of U.S. jobs data that serve as trading cues. EUR / USD is at 1.3447 from 1.3463 on Friday night in New York. EUR / JPY at 122.52 from 122.36, and the USD / JPY is at 90.98 from 90.93. The Cabinet has approved the estimated growth provides an opportunity for the government in preparing the budget for the upcoming fiscal year in April. The report estimates that Japan will post economic growth of 1% in the fiscal year that ended in March and 2.5% growth in financial year 2013 and will be used to formulate an income tax this week.
Stochastic Hang Seng Enter Overbought Zone
Entering the second session in the trade earlier in the week (Monday, 28/01), the Hang Seng index appears still moving ahead with a positive number because investors are still influenced by the strengthening of the Wall Street thanks to the 'earnings' which is quite satisfactory. In addition, the Hang Seng rallied also helped by 2 percent gain obtained by Hong Kong tycoon - Wharf Holdings and blue-chip consumer China Hengan International. While the property sector stocks rebound joined securely to the index sustains its range. Recorded Hang Seng index rose 0.48% in area 23,688.09 +107.66 points, or as much. Technically, the Hang Seng index appears vulnerable to a correction factor even in the second session though because the Stochastic indicator per hour (hourly) has now overbought and will form curves bearish. While accepts MACD indicator is still strong enough to continue the trend of strengthening. So the rally will conduct resistance index rose to 23,770 and then 23,850 to 23,900. While the correction will bring the index down to 23,630 then 23,540 prisoners support or up to 23,460 which is 23.6% of the Fibonacci retrace.
In addition, the Hang Seng rallied also helped by 2 percent gain obtained by Hong Kong tycoon - Wharf Holdings and blue-chip consumer China Hengan International. While the property sector stocks rebound joined securely to the index sustains its range. Recorded Hang Seng index rose 0.48% in area 23,688.09 +107.66 points, or as much. Technically, the Hang Seng index appears vulnerable to a correction factor even in the second session though because the Stochastic indicator per hour (hourly) has now overbought and will form curves bearish. While accepts MACD indicator is still strong enough to continue the trend of strengthening. So the rally will conduct resistance index rose to 23,770 and then 23,850 to 23,900. While the correction will bring the index down to 23,630 then 23,540 prisoners support or up to 23,460 which is 23.6% of the Fibonacci retrace.
Ahead of FOMC, Gold Prices appreciation
Short-term focus for gold investors this week is the FOMC meeting and Friday's nonfarm payrolls of data (2501), according to Barclays analyst reports. Mentioned that physical buying by China helped push gold prices but more demand from other countries is expected to strengthen the gold price gains. The rise in gold prices may also be limited by investor enthusiasm for equities, clear bank. Gold support level at $ 1.650 per troy ounce and $ 1.625 / oz while the resistance level at $ 1.676 / oz, and 1.696 USD / oz. The price of gold at $ 1,661.60 / oz, up 1.1% from its closing level. The price of gold at $ 1,661.20, up $ 1.90 from the NY close. March Nymex crude oil futures contract rose 17 cents to $ 96.05/barrel.
Performance Charmingly Asian stocks dampened Profit Taking
Most regional markets moving up with the Nikkei index fell after this morning was perched above the level of 11,000 for the first time since 30 April 2010.
- Nikkei -0.8%
- HSI +0.4%
- Kospi -0.4%
- Taiex +0.5%
- Sensex flat
- Shanghai Composite +1.8%
- STI +0.2%
- NZX-50 +0.1%.
Australia Markets closed for a holiday. In the forex market, currency movements relatively stable as the market waited for this week's FOMC meeting and the release of U.S. jobs data that serve as trading cues. EUR / USD is at 1.3447 from 1.3463 on Friday night in New York. EUR / JPY at 122.52 from 122.36, and the USD / JPY is at 90.98 from 90.93. The Cabinet has approved the estimated growth provides an opportunity for the government in preparing the budget for the upcoming fiscal year in April. The report estimates that Japan will post economic growth of 1% in the fiscal year that ended in March and 2.5% growth in financial year 2013 and will be used to formulate an income tax this week.
Stochastic Hang Seng Enter Overbought Zone
Entering the second session in the trade earlier in the week (Monday, 28/01), the Hang Seng index appears still moving ahead with a positive number because investors are still influenced by the strengthening of the Wall Street thanks to the 'earnings' which is quite satisfactory. In addition, the Hang Seng rallied also helped by 2 percent gain obtained by Hong Kong tycoon - Wharf Holdings and blue-chip consumer China Hengan International. While the property sector stocks rebound joined securely to the index sustains its range. Recorded Hang Seng index rose 0.48% in area 23,688.09 +107.66 points, or as much. Technically, the Hang Seng index appears vulnerable to a correction factor even in the second session though because the Stochastic indicator per hour (hourly) has now overbought and will form curves bearish. While accepts MACD indicator is still strong enough to continue the trend of strengthening. So the rally will conduct resistance index rose to 23,770 and then 23,850 to 23,900. While the correction will bring the index down to 23,630 then 23,540 prisoners support or up to 23,460 which is 23.6% of the Fibonacci retrace.
In addition, the Hang Seng rallied also helped by 2 percent gain obtained by Hong Kong tycoon - Wharf Holdings and blue-chip consumer China Hengan International. While the property sector stocks rebound joined securely to the index sustains its range. Recorded Hang Seng index rose 0.48% in area 23,688.09 +107.66 points, or as much. Technically, the Hang Seng index appears vulnerable to a correction factor even in the second session though because the Stochastic indicator per hour (hourly) has now overbought and will form curves bearish. While accepts MACD indicator is still strong enough to continue the trend of strengthening. So the rally will conduct resistance index rose to 23,770 and then 23,850 to 23,900. While the correction will bring the index down to 23,630 then 23,540 prisoners support or up to 23,460 which is 23.6% of the Fibonacci retrace.
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