Technical Analysis

Cautious remains a present feature in the stock markets around Asia as the dollar gained value, pushing commodities down. Markets seam to undertake a correctional movement on the short term especially since data supports the decline. South Korea’s economy grew less than expected in Q3 while inflation in Australia rose less than estimated. The MSCI Asia Pacific Index fell today by 1.1% to 129.03 at 15:17 in Tokyo. Nikkei 225 Nikkei 225 rose today by 0.10% or 9.65 points closing at 9387.03 after the dollar rose against the yen giving support to the Japanese exporting companies. From 225 shares, 84 advanced, 122 declined and 19 unchanged. Sectors leading the incline were consumer goods that gained 14.90 points and the industrials that gained 7.76 points, while the sector that led the decline was health care which lost 6.92 points. Among the shares that advanced TDK Corp topped the list by rising 3.16% closing at 4740 yen, followed by Softbank Corp which rose by 1.44%...

Cautious remains a present feature in the stock markets around Asia as the dollar gained value, pushing commodities down. Markets seam to undertake a correctional movement on the short term especially since data supports the decline. South Korea’s economy grew less than expected in Q3 while inflation in Australia rose less than estimated. The MSCI Asia Pacific Index fell today by 1.1% to 129.03 at 15:17 in Tokyo. Nikkei 225 Nikkei 225 rose today by 0.10% or 9.65 points closing at 9387.03 after the dollar rose against the yen giving support to the Japanese exporting companies. From 225 shares, 84 advanced, 122 declined and 19 unchanged. Sectors leading the incline were consumer goods that gained 14.90 points and the industrials that gained 7.76 points, while the sector that led the decline was health care which lost 6.92 points. Among the shares that advanced TDK Corp topped the list by rising 3.16% closing at 4740 yen, followed by Softbank Corp which rose by 1.44%...

The greenback came back after the better than estimated US confidence data which showed improvement to 50.2 in October from the revised 48.6 while analysts expected 49.9. However, the dollar remains under pressure before next week's Fed meeting which is expected to witness a second round stimulus to give another boost to the economy that started to show sluggishness. The dollar index rebounded from a low of 77.03 to a high of 77.68 where it is doing attempts to breach resistance at that level. On the other hand, the euro slipped after Mohamed A. El-Erian, Pacific Investment Management Co. Chief Executive Officer, said Greece will fall into default over the coming three years as the announced austerity measures are not sufficient to reduce the budget deficit that reached 13.6% of GDP last year. The announcement raised concerns that despite the improvement seen recently debt woes will cause recovery to falter. Concerning the euro-dollar pair, it is plummeted to a low of 1.3838 below 1.40 key...

By Leah Schnurr NEW YORK (Reuters) - Wall Street was set for a lower open on Tuesday, the day after hitting a five-month high, pressured by a stronger dollar and lackluster corporate results. Texas Instruments Inc <TXN.N> fell in premarket trade after it warned that fourth-quarter revenue will be hurt by slowing demand, while United States Steel Corp <X.N> tumbled after posting a loss and warning of a fourth-quarter deficit due to the uncertain economy in North America and Europe. Texas Instruments slipped 1.5 percent to $28.55, while U.S. Steel slumped 5.8 percent to $39.80. Equities continued to take their cue from the U.S. dollar, which steadied with investors wary of pushing it lower. The dollar index <.DXY> was up 0.6 percent. Stocks and the greenback have formed an inverse relationship, exacerbated by expectations the Federal Reserve will embark on another round of economic stimulus. Rick Meckler, president of investment firm LibertyView Capital Management in New York, noted the dollar-equities relationship could start to unravel if...

By Jessica Mortimer LONDON, Oct 26 (Reuters) - The dollar gained against the yen, holding above its 1995 record low on Tuesday following reminders from Japanese officials about the possibility of more steps to curb yen strength. The U.S. currency steadied against other currencies, with the euro stuck below $1.40 as market participants pondered how much monetary easing the Federal Reserve would opt for and how much may be priced in to an already weak U.S. currency. Helping steady the dollar were comments by New York Fed President William Dudley overnight, who said the economic context would determine whether an incremental or big bang approach to asset purchases was better. The market was also wary about pushing the dollar lower versus the yen due to worries about possible intervention after Japanese Finance Minister Yoshihiko Noda said Japan would take decisive steps on forex when needed.  At 0746 GMT, the dollar was up 0.5 percent at 81.15 yen JPY= , with traders citing talk of Japanese investors...

Dollar appreciated against majors after the housing data rose unexpectedly for the fifth-straight month, along with remarks from the US Treasury that the US will seek to restore investors’ confidence with a stronger dollar. The US treasury Secretary Timothy Geithner stated that the world’s reserve currency will remain strong while adding that it’s not in the best interest of nations to devalue the currency. The dollar sank over the past few months on remarks from the Federal Reserve Chairman; Ben Bernanke for the possibility of providing markets with another round of stimulus measures, offsetting the gains acquired by the dollar and forced a downside trend to prevail in markets. The dollar rose in today’s trading session as China’s interest rate increased, discouraging investor’s demand for risk and causing the dollar to extend its gains against majors. The US dollar index, which tracks the performance of the dollar against majors ascended on the daily scale to trade at 77.89, compared with the opening levels of...

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