Asian Stocks

AUDUSD Higher on Strong Retail Sales, Asian Markets Mixed 

Asian markets ended mixed after the two day’s correction amid the crude oil price turbulence. Hopes for a coronavirus treatment and a gradual reopening of businesses in Europe and the U.S. boost sentiment. A positive earnings report from Netflix also helps sentiment. 

The Nikkei 225 finished 0.74% lower at 19,137; The Shanghai Composite closed up 0.60% at 2843, while the Singapore Straits Times ended 0.07% lower at 2,550. The Hang Seng was 0.42% higher at 23,893. Australian equities ended flat at 5,221. 

European markets rise in early trading; the German DAX is 0.79% higher at 10,333. CAC 40 index is 0.46% higher at 4,378, while the FTSE MIB in Milan is 1.21% higher at 16,652. In London, the FTSE 100 is 1.49% higher at 5,725.  

In commodities markets, the Brent crude oil price is 1.10% higher at $19.83 per barrel after the turbulence in WTI crude oil prices. The gold price rallied today after the recent and is 0.93% higher at 1683. The gold first resistance stands at $1,741 the recent high, while the initial support stands at $1,700. Silver (XAGUSD) is 0.40% higher at $14.89.   

Cryptocurrencies turn higher in European opening, Bitcoin’s (BTCUSD) price is 1.46% higher at $6,956, hitting the daily low at $6,812 and the daily high at $6,979. Bitcoin’s (BTCUSD) technical outlook is bearish, as the price hovers below the major daily moving averages. Only a break above the 7,500 might cancel the recent bearish momentum. First support for BTCUSD stands now at $6,484 the low from April 16.

On the other side, initial resistance stands at $7,328 the high from April 18. ETHUSD is 2.31% higher, at $175.03. The initial resistance for Ethereum stands at 176.55 the high from last week, while the first support stands at $142.55 the low from April 6th trading session. Ripple is 1.06% higher at 0.1856. Litecoin is 0.81% higher at 41.02.

In the Lookout: Australia Retail Trade came in better than expected at 8.8% for March. 

The People’s Bank of China has set the Yuan reference exchange rate at 7.0903 versus yesterday’s fix at 7.0752.

USDJPY Daily Chart

Trading Perspective: In the forex markets, GBPUSD is 0.60% higher at 1.2365. The EURUSD is 0.16% higher at 1.0873; the AUDUSD is 0.96% higher at 0.6341 on strong retail sales. The Yen is stronger against the USD; the USDJPY is 0.12% higher at 107.61. NZDUSD trades 0.65% higher at 0.5999.

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