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Asian markets up but Nikkei rockets upward

FXstreet.com (Barcelona) - Japan’s Nikkei Stock Average (+3.39%) erupted to above 14000, but Hong Kong’s Hang Seng (+0.34%), India’s Bombay Sensitive (+0.49%), Singapore’s Straits Times (+0.37%) and Indonesia’s Jakarta Composite (+0.78%) also added gains on Tuesday, while South Korea’s Kospi fell -0.36% with more threats from North Korea, and Mainland China’s Shanghai Composite closed around flat. Australia’s S&P/ASX 200 fell -0.24% following the unexpected RBA rate cut by 25bp to 2.75%, a record low.

Futures for the German DAX 30 and the French CAC 40 are signaling a higher opening around +0.20% ahead of French industrial output and German factory orders in March, which “should give a better picture of how much of the weakness that we’ve seen in the surveys is translating into weakness in the hard data”, said TD Securities analysts.

Forex: GBP/USD holding steady around 1.5540/45

The sterling is trading almost unchanged against the greenback on Tuesday, hovering over the area of 1.5540/45....
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Forex Flash: EUR/USD depends on break below 55-day MA to confirm a trend reversal lower - Commerzbank

As the EUR/USD is drawn back to two month support line and the 55 day moving average at 1.3061/21, having previously been rejected by hefty resistance at 1.3225/43 (50% retracement and last Wednesday’s high), Commerzbank analysts believe that a break back below the 55 day moving average at 1.3021 remains on the cards and is still needed to confirm a trend reversal lower. “In this case the 1.2980/54 support area (24th April low and the 200 day ma) will be in sight. Failure here will concentrate efforts on to 1.2839, the 78.6% retracement of the move up in April, then the 1.2740 recent low”, wrote analyst Axel Rudolph, adding that resistance remains to be seen between the mid-April high at 1.3202, the four month resistance line at 1.3213 and the April peak at 1.3243.
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