UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 22 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 1 @ 8:30 am ET - Core PCE Price Index m/m Data
* Fri. Oct. 8 @ 8:30 am ET - Employment Data
* Wed. Oct. 13 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Wed. Oct. 13 @ 2:00 pm ET - FOMC Meeting Minutes
* Thurs. Oct. 14 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Fri. Oct. 15 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Wednesday, January 23, 2013
Japan's Nikkei Futures Index Rejected at Resistance
Price continued to rally and, subsequently, reached the confluence resistance zone at 11000 last week, where it was rejected on the first attempt to push above, as shown on the Weekly chart below.
We'll see whether their Central Bank's/government's aggressive asset purchase/fiscal program (in line with their 2% inflation target) continues to produce the same kind of upward momentum that it's seen since the December lows, and for how long. In any event, we may see choppy (and potentially volatile) movement in between 11300 and 10390, until price breaks and holds convincingly above or below those levels.