The Nikkei is expected to trade in a narrow range around its level at the morning close during the afternoon session, with the 75-day moving average in the 66,400-yen range viewed as resistance. In the United States, concerns about inflation are continuing following the PCE data, and with a speech by Federal Reserve Chair Warsh scheduled for the 28th, some investors are holding back from active trading.
The Nikkei is at 66164.19 (-97.97), while the TOPIX is at 4114.70 (+3.68). The afternoon session is expected to see range-bound trading around the morning closing level, with the 75-day moving average in the 66,400-yen range viewed as resistance.
In the US market, personal consumption expenditures continued to point to persistent inflation, keeping concerns about higher interest rates in place. Federal Reserve Chair Warsh is scheduled to speak on the 28th, and some market participants want to assess the remarks before taking action.