NASDAQ, NIKKEI 225, ASX 200 INDEX OUTLOOK:Nasdaq composite retraced 0.21% from its all-time-high, consolidating at 11,160Nikkei 2
NASDAQ, NIKKEI 225, ASX 200 INDEX OUTLOOK:
- Nasdaq composite retraced 0.21% from its all-time-high, consolidating at 11,160
- Nikkei 225 index failed to interrupt by means of 23,300 resistance, positioning to open decrease
- ASX 200 index fell to assist at 6,100 assist as Australia prolonged lockdown to mid-Sep
Nasdaq Index Outlook:
Nasdaq retraced barely after hitting its all-time-high of 11,250 final Thursday. The index has surged 68% from its trough noticed in late March, making it one of many best-performing main inventory indices this yr. Market individuals are ready for this Wednesday’s Federal Reserve assembly minutes for clues in regards to the inflation outlook and any shift in coverage tone.
The suspending of the evaluation of the phase-one US-China commerce deal provides uncertainty to the Chinese language expertise sector, in addition to basic buying and selling sentiment throughout the Asia-Pacific area. Buyers might stay cautious earlier than commerce talks ship a transparent message.
Technically, Nasdaq is trending up properly in an ‘ascending channel’ as highlighted within the chart under. Upward momentum appears to point out no signal of reversing quickly. Speedy assist stage could be discovered on the 20-Day Easy Shifting Common (SMA) line at 10,960.
Nasdaq Index – Every day Chart
Nikkei 225 Index Outlook:
The Nikkei 225 index is about to open 0.68% decrease at 23,120, as recommended by the futures markets.Japan’s 2Q GDP studying got here in at an annualized fee of -27.8%, barely decrease than the markets’ forecast of a -27.2% decline. On a QoQ foundation, the economic system shrank 7.8%, additionally lacking consensus forecasts of a 7.6% decline. A weaker GDP studying might inhibit risk-taking within the inventory market in the present day.
Uncertainties surrounding US-China commerce talks might also have some influence on investor confidence.
Technically, the Nikkei 225 index has damaged above the 21,800 to 22,900 vary and moved larger. Its quick resistance stage could possibly be discovered at 23,300 – the earlier excessive seen in early June. Its 20- and 50-Day Easy Shifting Averages (SMAs) strains are seemingly changing into quick assist ranges. Breaking above 23,300 will seemingly open the door for extra upside in direction of resistance at 24,000.
Nikkei 225 Index – Every day Chart
ASX 200 Outlook:
Australia’s ASX 200 (ASX) index inventory market benchmark is about to open decrease at round 6,040, in line with the futures markets. Victoria’s state of emergency declaration was prolonged to mid-September, regardless of falling each day instances not too long ago (Chart under).
Supply: well being.gov.au
Technically, the ASX 200 index has fallen again to its ‘ascending triangle’ as proven within the chart under, failing to register a significant break above key resistance at 6,100. It’s total development, nonetheless, stays bullish because the 20-Day, 50-Day and 100-Day Easy Shifting Averages (SMAs) are all shifting upwards.
ASX 200 Index – Every day Chart
Really useful by Margaret Yang
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— Written by Margaret Yang, Strategist for DailyFX.com
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