Data released Sunday night revealed a big drop in Japan's Trade Balance...in fact, it's the lowest reading since January 2000 and double the loss made the prior month. Whether the Bank of Japan will provide additional monetary easing/stimulus remains to be seen.
Japan's Nikkei Index has been fluctuating wildly within a wide range since it dropped below 10000 after the earthquake in March of 2011. Two attempts to regain and hold above that level have failed, and price remains subdued within a smaller range and in between the 50 and 200 smas, as shown on the Daily chart below. The 50 sma is still below the 200 sma in a bearish "Death Cross" formation, and price action is under that bearish influence.
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* Mon. Apr. 1 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
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* Wed. Apr. 24 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9, Feb. 21 PMI came in at 47.6 & Mar. 22 came in at 44.7 (contraction mode deepens!)
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