The Nikkei 225 is expected to consolidate at elevated levels in the afternoon, with the recovery from the morning session's decline likely to continue. With tonight's NVIDIA earnings and the FRB chair's speech at Jackson Hole on the 28th ahead, investors will be watching to assess the market's next move.
The Nikkei 225 is expected to consolidate at elevated levels in the afternoon, having moved into positive territory from a ¥251.94 decline at the morning open. While the market's downside resilience has been noted, some analysts have also pointed to limited room for further gains.
The Nikkei 225's 75-day moving average is in the ¥66,300 range, a level viewed as upside resistance, and some market participants believe the scope for a short-term rise is limited.
US company NVIDIA's earnings announcement is due tonight, followed by a speech by Federal Reserve Board Chair Warsh at the Jackson Hole symposium scheduled for the 28th. Investors are looking to assess the implications of these events, while crude oil futures prices and long-term US interest rates also remain in focus.