Asian stocks retreating as Fed on hold, Nikkei back into ¥22,300.00


  • The Pacific market sector is in full retreat for Friday as the US Fed holds off on rate hikes for now.
  • China's CPI reading managed to disappoint despite coming in at expectations, worsening the day's mood.

Asian stocks got pushed back into retreat after the US Federal Reserve held steady on interest rates in advance of December's widely-expected rate increase, and global equities have rolled over to expose their underbellies heading through Friday's action.

US mid-term elections held this week sparked a bullish run in broader equity indexes, but an on-hold Fed has soured the buying mood, with Chinese indexes seeing extended declines in early Friday trading after China's CPI reading for Friday morning barely scraped in at expectations, indicating a worsening decline in the Chinese domestic economy.

The MSCI broad Asia-Pacific index is in the green for the day after struggling in the early hours, up 0.66%,  while Australia's ASX 200 is softly down around -0.11%.

Japan's major bourses are in decline mode as well, with the Nikkei 225 retracting 0.85% and the Tokyo Topix index sits back -0.40%, while Chinese equities are falling once more, with the Shanghai CSI 300 in the red for -1.14% and the Hong Kong Hang Seng index in freefall for -2.24%.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Last Price: 22305
    Daily change: -1.8e+4 pips
    Daily change: -0.801%
    Daily Open: 22485
Trends:
    Daily SMA20: 22071
    Daily SMA50: 22913
    Daily SMA100: 22694.82
    Daily SMA200: 22388.78
Levels:
    Daily High: 22565
    Daily Low: 22370
    Weekly High: 22320
    Weekly Low: 20805
    Monthly High: 24480
    Monthly Low: 20800
    Daily Fibonacci 38.2%: 22444.49
    Daily Fibonacci 61.8%: 22490.51
    Daily Pivot Point S1: 22381.67
    Daily Pivot Point S2: 22278.33
    Daily Pivot Point S3: 22186.67
    Daily Pivot Point R1: 22576.67
    Daily Pivot Point R2: 22668.33
    Daily Pivot Point R3: 22771.67

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.

EUR/USD News

GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.

GBP/USD News

USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.

USD/JPY News

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •