USD/JPY: bears testing bulls nerves down to 106.06 lows

PT. Equityworld Futures - USD/JPY has dropped as the Asian session gets going and is down for a look in at 1o6 the figure.
Following last week's performance, when the US dollar index (DXY) benefitted from the risk aversion, gaining around 0.7% while USD/JPY was in a range between 106.60 and 107.20, with the safe-haven yen outperforming on the day, USD/JPY has fallen over 90 pips on the Asian session, despite the minor effort by the bulls on the Tokyo open the Yen has rallied almost pips since.
The dollar could remain under pressure this week with the pending Fed who are unlikely to raise rates due to worsening conditions in the US economy appearing through the cracks and the Fed's recent rhetoric that has provoked market sentiment to push back timings of a rate hike. There are also a number of other risk events this week that include further key US data as well as the BoJ.
USD/JPY levels
The downside is in favour while below 107.85/108.35 and a break of the 106 handle will bring in the focus on 105.55 recent low and 105.40 2014 peak. To the upside, a break of 106.50/70 will open risk to 106.80 where the sma's are converging ahead of the 107.20 level and 7th and 9th June highs.
Source: FXstreet

Japanese Stocks Drop as Exporters Fall on Strong Yen, Brexit Fears

PT. Equityworld Futures - Japanese stocks headed for their lowest close in two months as growing concern over U.K.’s referendum over remaining in the European Union sent investors scrambling to haven assets including the yen.
The slump in Tokyo shares follows a global equity market decline on Friday after a newspaper poll showed the campaign for Britain to exit the E.U. took a 10 percentage-point lead less than two weeks before the country votes in a referendum. Investors are also avoiding risk ahead of central bank meetings in the U.S. and Japan later this week.
The Topix index slumped 2.7 percent to 1,295.41 at the break in Tokyo, on course for its lowest level since April 11. Just 55 shares rose while 1,860 fell. The Nikkei 225 Stock Average lost 2.6 percent to 16,168.48. The yen gained 0.7 percent to 106.21 per dollar.
Source: Bloomberg

China H-Share Rally Unravels as Index Sinks Most Since February

PT. Equityworld Futures - The longest rally by Chinese H shares in nine years is already becoming a distant memory.
The Hang Seng China Enterprises Index fell 2.5 percent at 10:15 a.m. in Hong Kong, extending its two-day slump to 4.5 percent, the steepest in four months. Producers of energy and building materials led losses after fixed-asset investment in the first five months of 2016 trailed 38 economists forecasts and a global equity selloff deepened. The Shanghai Composite Index dropped 0.8 percent.
Source: Bloomberg

Ekonomi China Stabil Pada Mei Bahkan Ditengah Melambatnya Pertumbuhan Investasi

PT. Equityworld Futures - Ekonomi China stabil pada bulan Mei terkait pesta kredit awal tahun ini yang moderat.
Produksi industri naik 6% dari tahun sebelumnya pada bulan Mei, sesuai dengan perkiraan ekonom, biro statistik nasional hari Senin. penjualan ritel naik 10% bulan lalu, sementara investasi aset tetap meningkat 9,6% dalam lima bulan pertama tahun 2016, hilang semua 38 ekonom perkiraan.
"Kami percaya momentum berurutan dalam pertumbuhan ekonomi telah cenderung tetap tangguh pada bulan Mei," Bank of America Corp analis termasuk Helen Qiao menulis dalam sebuah catatan penelitian menjelang rilis data. "Pemulihan pasar properti dan peningkatan pendanaan proyek untuk proyek-proyek infrastruktur di beberapa bulan terakhir akan terus memberikan dukungan untuk kegiatan industri dalam waktu dekat."
pengembangan investasi properti naik 7% pada periode Januari-Mei, data menunjukkan.(yds)
Sumber: Bloomberg