1 March 2022 Morning Session Analysis
Russia-Ukraine talk held.
Market participants began to shift their capital into risky assets after Russia and Ukraine agreed to hold talks on yesterday. The talk which is held near Poland-Belarus border discussed the possibility of achieving peace with certain criteria which are being requested from both parties. Ukrainian government requested for an immediate cease fire and Russia will be required to recall their troops from their country. At the same time, Russia also requires a guarantee of Ukraine’s neutrality in global politics as well as withdrawing their application to join NATO. According to head of Russian delegation Vladimir Medinsky, he commented that both parties have agreed upon several requests that were being discussed. Although a peace agreement has not yet been solidified, Medinsky expresses his confidence to achieve it in the near future and both countries is set to meet again in the next few days. Following lower risk of escalation in Russia-Ukraine war, the dollar index was down 0.01% to 96.64.
In the commodities market, crude oil price was down 0.31% to $95.71 per barrel following possible peace agreement in between Russia and Ukraine. On the other hand, gold price was down 0.13% to $1907.39 a troy ounce due to higher demand for risky assets.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
11:30 AUD RBA Rate Statement
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 11:30 | AUD – RBA Interest Rate Decision (Mar) | 0.10% | 0.10% | – |
| 16:55 | EUR – German Manufacturing PMI (Feb) | 58.5 | 58.5 | – |
| 17:30 | GBP – Manufacturing PMI (Feb) | 57.3 | 57.3 | – |
| 21:30 | CAD – GDP (MoM) (Dec) | 0.60% | 0.10% | – |
| 23:00 | USD – ISM Manufacturing PMI (Feb) | 57.6 | 58 | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded lower following prior retracement from higher levels. MACD which illustrate diminished bullish signal suggests the index to be traded lower in short-term.
Resistance level: 97.65, 98.80
Support level: 96.60, 95.80
GBPUSD, H4: GBPUSD was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher after breaking the resistance level.
Resistance level: 1.3420, 1.3470
Support level: 1.3355, 1.3290
EURUSD, H4: EURUSD was traded lower following prior retracement from higher level. MACD which illustrate diminished bullish signal suggests the pair to be traded lower in short-term.
Resistance level: 1.1270, 1.1340
Support level: 1.1200, 1.1135
USDJPY, Daily: USDJPY was traded lower following prior retracement from higher level. MACD which diminished illustrate bullish momentum suggests the pair to be traded lower in short-term.
Resistance level: 115.40, 116.25
Support level: 114.55, 113.50
AUDUSD, H4: AUDUSD was traded lower following prior retracement from higher level. MACD which illustrate diminished bullish signal suggests the pair to be traded lower in short-term.
Resistance level: 0.7270, 0.7300
Support level: 0.7225, 0.7180
NZDUSD, H4: NZDUSD was traded lower following prior retracement from higher levels. MACD which illustrate diminished bullish signal suggests the pair to be traded lower in short-term.
Resistance level: 0.6780, 0.6840
Support level: 0.6745, 0.6710
USDCAD, H4: USDCAD was traded lower following prior retracement from higher levels. MACD which illustrate bearish momentum suggests the pair to be traded lower after breaking the support level.
Resistance level: 1.2715, 1.2785
Support level: 1.2660, 1.2595
USDCHF, H4: USDCHF was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the pair to be traded higher in short-term.
Resistance level: 0.9190, 0.9210
Support level: 0.9165, 0.9130
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from higher levels. MACD which illustrate diminished bullish signal suggests its price to be traded lower in short-term.
Resistance level: 96.30, 100.00
Support level: 93.15, 91.00
GOLD_, H4: Gold price was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests its price to be traded higher after closing above its resistance level.
Resistance level: 1911.00, 1925.35
Support level: 1889.75, 1875.10