Nikkei 225 Higher After Better GDP Data

Nikkei 225 managed to add 0.44% at 20,684 mirroring Wall Street indices on improved risk sentiment despite US administration is delaying a decision on whether to allow U.S. companies to do business with Huawei. The USDCNH finished at 7.0136 above the 7 critical mark for second consecutive day. The Hang Seng finished 0.23 percent lower at 26,059, the Singapore Straits Times index finished 0.49 percent lower at 3,168 and the Shanghai composite ended 0,71 percent lower to 2,774. Aussie stocks ended lower, the ASX finished 0.03% lower at 6,566.

InvestingCube's S&R Levels

NAS100

NAS100 (11354.3)

Not in Buy Zone

STOP

BUY

TP1

11479

TP2

11923

Nikkei 225 finished higher after the Japan Gross Domestic Product (QoQ) came in at 0.4% topping expectations of 0.1% in 2Q the Annualized figure came in at 1.8% above forecasts of 0.4% in 2Q. Shiseido Co. finished 8.1% higher after reporting better sales for the Q1 period.

Nikkei 225 continues the rebound from seven month low forming a strong support at 20,315 the lows from early June. A break below that level might trigger a selloff below the 20,000 mark. On the upside resistance for the Nikkei 225 stands at 20,930 the high from August 5th and then at 21,251 the 50 day moving average.

In Asian forex markets USDJPY trading 0.11 percent lower at 105.95, the Aussie dollar trades 0,06% higher against greenback at 0.6806, while Kiwi rebounds from three year lows at 0.6482 versus USD. Gold is trading higher at 1,503, while crude oil is flat at $52.54 per barrel.Don’t miss a beat! Follow us on Telegram and Twitter.

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