Nikkei 225 Rebounds From 7 Month Lows

Nikkei 225 registers a positive session mirroring Asian indices and Wall Street on improvement in risk sentiment despite the USDCNH breaks above the 7 critical mark. The Hang Seng finished 0.72 percent higher at 26,188, the Singapore Straits Times index finished 0.40 percent lower at 3,170 and the Shanghai composite ended 0,84 percent higher to 2,791. Aussie stocks ended higher, ASX finished 0.75% at 6,568.

Nikkei 225 finished 0.37% higher at 20,593 as the Japan Trade Balance on BOP Basis came in at ¥759.3B, below expectations (¥823.6B) in June. Japan Eco Watchers Survey: Outlook came in at 44.3 below forecasts of 46.9 in July.

Nikkei 225 trades close to 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 21,257 the 50 day moving average.

In Asian forex markets USDJPY trading 0.28 percent higher at 106.09, the Aussie dollar trades 0,26% higher against greenback at 0.6771, while Kiwi rebounds from three year lows at 0.6454 versus USD. Gold is trading higher at 1,501, while crude oil is 3,27 percent higher at $52.76 per barrel.Don’t miss a beat! Follow us on Telegram and Twitter.