Abundant supplies, Oil prices fell

Oil prices moved down in the Asian trading session. The flood of U.S. oil inventories helped weigh on the development of macro-economic outlook in the country with the world's biggest economy, obviously trader based in Singapore.

Release employment data on Friday (08/03) shows the number of workers increased 236 000 in February, compared with economists' expectations of 160,000. Another factor that allegedly helped depress prices is China economic data releases on the weekend that showed declining retail sales and industrial output, obviously trader.

Nymex crude oil futures to trade in a range of $ 90 - $ 93/barrel in the coming sessions. April Nymex crude oil futures contract fell 22 cents to $ 91.73/barrel. Brent crude fell 38 cents to $ 110.47/barrel.

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Yen above 96, Nikkei Lead Asia's Rally

Nikkei - Japan again led the rally in Asian trade earlier in the week (11/3) thanks again helped by a weaker yen which is now increasingly weakened in the range of 96 to the U.S. dollar (USD).

The headline Nikkei index observed to move in the area of ​​12392.81 or achieve a gain of +109.19 points after opening at 12363.09 level and shot up to a high of 12399.76. While the Yen is now perched at around 96.13 after the level dropped to 96.25 per dollar.

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Gold Weakens After U.S. Jobs Data Release

Gold futures moved down on Monday while U.S. employment sector data released on estimates positively impact economic growth prospects, and depressed safe-haven buying, despite the central bank is expected to continue to lift the economy in tahumn 2013.

Policy easing from the Federal Reserve has brought gold to a record high in recent years, as investors try to cope with high inflation estimates related to the printing of money the U.S. central bank.

Contract Spot gold fell 0.1% to $ 1,576.04 an ounce, recovering from a low for 2 weeks at the $ 1,560.80 in the previous session. U.S. gold futures fell 0.1% to $ 1,575.40.

source

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Kospi eroded weaker yen

 

He began trading earlier this week (Monday, 11/3) among exporters Korea - South re-injured by the impact of the weakening of the yen - Japanese for Korean and Japanese exporters face to face in competition in some markets.

In addition, the weakening Kospi - South Korea today also due to concerns about inflation in China increased significantly in February, although the data of industrial output and retail sales shrank. China's inflation surge was confirmed that the Chinese authorities need to take policy measures to dampen prices through monetary tightening, which would impact on the shrinkage of economic growth.

Since the beginning of the year, South Korea's automobile sector has been hit hard by the impact of the weakening yen, and today the sector again suffered after the yen dropped back to the level of 96.25 against the U.S. dollar Recorded Kia Motors Corp. stock. fallen to 1.8% and Hyundai Motor Co. dropped to 2.6%.

The major indexes tracked Kospi fell -0.15% or -2.17 points at 2003.60 area, while the Kospi futures down -0.70 points share in the range of 264.30.

 

source

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EUR/USD back under strong bearish pressure

EUR/USD back under strong bearish pressure after falling from resistance at 1.3133. Price is currently engaged in a phase of consolidation approaching resistance area in the range of 1.3022 - 1.3065. Bearish signal that may be confirmed in the range is likely to be a sell signal with a target in the range of 1.2996 - 1.2954. Furthermore, the penetration of the support at 1.2954 is expected to increase and potentially bearish pressure will push EUR/USD to range 1.2912 - 1.2865.

Intraday bias will turn bullish if resistance at 1.3065 broke. If that happens, the EUR/USD is expected to move up into the range of 1.3091 - 1.3133.

source

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GBP / USD: under pressure

GBP / USD remains under pressure, moving around the 1.4844 support. If support is broken, the GBP / USD is expected to continue to be depressed to the range of 1.4838 - 1.4786.

On the other hand stochastic and CCI 1 hour shows a bullish indication. Therefore there is the possibility of a pullback will occur towards resistance area in the range of 1.4983 - 1.5035. GBP / USD is still in a bearish bias over the last resistance, the bearish signals that may appear in this range is expected to be a sell signal with a target in the range of 1.4930 - 1.4884.

New intraday bias will turn bullish if resistance at 1.5035 broke. If that happens, GBP / USD is expected to move towards 1.5081 - 1.5110.

source

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