- Risk-off marks the end of this trading week for the Asian bourses as major indexes dip red once again.
- China Retail Sales missed big today, coming in at 8.1% (expected 8.8%), while Industrial Production slipped to 5.4% (expected 5.9%).
Asian equities remain off-balance for Friday as risk aversion returns to the fold, knocking bullish traders off-balance and keeping safe haven assets well-bid to cap off the trading week, with a missed data reading from China further entrenching the Pacific sector in the red as investor sentiment continues to skew towards the downside.
Despite a bumper reading in Japan's Tankan indicators early Friday, Japanese stocks are in the red for the day amidst broader market tensions and still-rising trade war fears, and the Nikkei 225 index is down about -1.90% with Tokyo's Topix index declining -1.40% for Friday; China is likewise off-balance after Chinese Retail Sales and Industrial Production both missed market estimates, and the Hong Kong Hang Seng index is retreating -1.50% with Shanghai's CSI 300 down -1.00%. Australia, forever tied closely to China in both trade and economic growth, is also seeing traders retreat on the day's data miss, and the ASX 200 is down -1.05% for Friday.
Despite the usual market fray plaguing Asian stocks, emerging markets are remaining comparatively upright, with the MSCI broad Asia-Pacific (excluding Japan) index up nearly 0.55% on the day.
Nikkei 225 Technical Levels
Nikkei 225
Overview:
Today Last Price: 21405
Today Daily change: -4.9e+4 pips
Today Daily change %: -2.24%
Today Daily Open: 21895
Trends:
Previous Daily SMA20: 21754.32
Previous Daily SMA50: 21948.23
Previous Daily SMA100: 22515.56
Previous Daily SMA200: 22431.19
Levels:
Previous Daily High: 21920
Previous Daily Low: 21685
Previous Weekly High: 22720
Previous Weekly Low: 21075
Previous Monthly High: 22570
Previous Monthly Low: 21180
Previous Daily Fibonacci 38.2%: 21830.23
Previous Daily Fibonacci 61.8%: 21774.77
Previous Daily Pivot Point S1: 21746.67
Previous Daily Pivot Point S2: 21598.33
Previous Daily Pivot Point S3: 21511.67
Previous Daily Pivot Point R1: 21981.67
Previous Daily Pivot Point R2: 22068.33
Previous Daily Pivot Point R3: 22216.67
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.