Nikkei 225 futures are expected to be shaped this week by resilience around the 25-day moving average and positioning ahead of Nvidia's earnings. Developments in the Middle East and US economic indicators will also be key market focuses.
The outlook for this week is for Nikkei 225 futures to hold firm around the 25-day moving-average level while tracking crude oil prices and interest-rate movements. Semiconductor and AI-related stocks remain key market focuses, and the futures market's trading range is attracting attention.
In recent trading, prices moved sharply in both directions during the day last week, with markets at times affected by movements in long-term US Treasury yields and developments in the Middle East.
Key events ahead include Nvidia's earnings on the 26th, the release of the US July PCE deflator on the same day, and the Jackson Hole conference from the 27th to the 29th. Depending on the content of Fed Chair Warsh's speech, long-term yields could be affected.
Meanwhile, attention is warranted on the possibility of renewed tensions surrounding Iran. Crude oil futures and risk-off sentiment in the market may strengthen in the short term.