Dollar recovered while geopolitics continues weighed
The dollar rose against a basket of major currencies on Thursday, with the U.S. dollar index rose by 0.32% to 100.38, mounting a recovery from its slump in the previous session, following President Trump’s comments the currency was “getting too strong” while mostly upbeat economic data lifted sentiment. However the dollar mounted a recovery overnight, as investors seemed to cover short positions, ahead of the Good Friday holiday in the U.S. and Europe this week. Meanwhile, slower than expected growth in initial jobless claims and bullish consumer sentiment lifted sentiment while US producer prices dropped for the first time in seven months. The Labor Department said on Thursday, initial jobless claims fell by 1,000 to a 234,000 for the week ended April 8 while the producer price index for final demand slipped 0.1% last month. The University of Michigan said its consumer sentiment index climbed to 98.0 in April, well above expectations of a fall to 96.5. On the other hand, The Australian dollar is stronger, up 0.77% at 0.7581, following a series of labor data released as better than expectations.
As for commodities market, Gold prices traded higher on Thursday, added $10.05, or 0.78%, to $1,288.15 a troy ounce as investors continued to back the precious metal amid geopolitical concerns while mostly upbeat economic data failed to weigh on sentiment. Meanwhile, crude oil price settled higher on Thursday, gained 7 cents to settle at $53.18 a barrel after the International Energy Agency (IEA) said the oil demand and supply imbalance was close to breakeven, after several developed countries reined in production.
Today’s Holiday Market Close
Time Market Event
All Day U.S. Good Friday
All Day E.U. Good Friday
All Day Australia Good Friday
All Day New Zealand Good Friday
All Day U.K. Good Friday
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economy Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – CPI (MoM) (Mar) | 0.2% | 0.2% | – |
| 20:30 | USD – Core Retail Sales (MoM) (Mar) | 0.2% | 0.1% | – |
GBPUSD
GBPUSD, H4: GBPUSD traded lower and currently hovering below the both MA lines. Referring to the MACD where both of the movement lines pointing downward and momentum be seen below the level of 0, suggested GBPUSD to move further lower after the price close below the support level of 1.2500.
Resistance level: 1.2520, 1.2570
Support level: 1.2490, 1.2470
EURUSD
EURUSD, H4: EURUSD hovering between the range of 1.0620 and 1.0610 after it plunged from recent highs to the level below the both MA lines. Both of the MA lines continues narrowing and almost form a death cross, signaled further downside for the pair and suggested to move further lower after the price close below the support level of 1.0610.
Resistance level: 1.0620, 1.0640
Support level: 1.0610, 1.0590
USDJPY
USDJPY,H4: USDJPY remained traded as a down trend and it just rebounded from the support level of 108.70. Referring to the both movement lines in MACD indicator which narrowing and pointing upward, USDJPY suggested to be traded higher in short term. However, the pair expected to continues its down trend after the price close below the support level of 108.70.
Resistance level: 110.30, 111.30
Support level: 108.70, 106.50
GOLD
GOLD,H1: Gold price remained hovering below the resistance level of 1289.00. Based on the directions of both MA lines, it is suggested to move further higher after the price close above the resistance level of 1289.00.
Resistance level: 1289.00, 1300.00
Support level: 1277.00, 1270.00
Crude Oil
CrudeOIL,H4: Crude oil price was closed below the 20MA line (Red) previously, suggested further downside in short term as a technical correction or retracement period. However the trend directions remained pointing upward.
Resistance level: 53.70, 55.00
Support level: 52.20, 51.20