{"id":25029,"date":"2018-02-28T01:29:34","date_gmt":"2018-02-28T01:29:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25029"},"modified":"2018-02-28T01:29:53","modified_gmt":"2018-02-28T01:29:53","slug":"280218-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280218-daily-analysis\/","title":{"rendered":"280218 Daily Analysis"},"content":{"rendered":"

28 February 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Powell\u2019s optimistic outlook sends dollar higher.<\/strong><\/p>\n

 <\/p>\n

Dollar index was traded higher against its major peers by 0.58% to 90.25 as of writing following hawkish comments from Federal Reserve Chair Jerome Powell in Capitol Hill testimony on inflation and economic growth in U.S. Overnight, Powell revealed his optimistic outlook towards current economic conditions in U.S. by noting that the economy was benefiting from global recovery and changes in fiscal policy. Thus, a gradual increase in interest rates should be seen this year which it has bolstered a surge in the Greenback. In addition, Powell\u2019s speech has overshadowed a mixed bag of economic data: CB consumer confidence that rose to 130.8 versus the expected reading of 121.0 while durable goods orders fell 3.7% last month which was much lower than the forecast reading of a 2.4% fall. On the contrary, GBP\/USD was down 0.28% to $1.3900 following a deteriorating Brexit negotiations when the Europeans dismissed Prime Minister Theresa May\u2019s latest proposals on a trade deal after Brexit. The UK Prime Minister is to be laying out her post-Brexit vision of relations with the EU in a speech on Friday. Any negative reaction by the Europeans is seen as sending the Pound Sterling to a worse condition.<\/p>\n

In the commodities market, crude oil price was down by 0.3% to $62.57 per barrel following an increase in U.S. crude stockpiles by 933,000 barrels to 421.2 million. Otherwise, gold price rose 0.13% to $1317.99 a troy ounce following slight recovery from previous low that was induced by Powell\u2019s optimistic speech.<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n


\n<\/u><\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
07:50<\/td>\nJPY \u2013 Industrial Production<\/td>\n2.9%<\/td>\n-4.1%<\/td>\n–<\/td>\n<\/tr>\n
08:00<\/td>\nNZD \u2013 ANZ Business Confidence (Feb)<\/td>\n-37.8<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
09:00<\/td>\nCNY \u2013 Manufacturing PMI (Feb)<\/td>\n51.3<\/td>\n51.4<\/td>\n–<\/td>\n<\/tr>\n
09:00<\/td>\nCNY \u2013 Non \u2013 Manufacturing PMI (Feb)<\/td>\n55.3<\/td>\n55.0<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 Gfk German Consumer Climate<\/td>\n11.0<\/td>\n10.8<\/td>\n–<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Unemployment Change (Feb)<\/td>\n-25K<\/td>\n-17K<\/td>\n–<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Unemployment Rate (Feb)<\/td>\n5.4%<\/td>\n5.4%<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 CPI (YoY) (Feb)<\/td>\n1.3%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 GDP (QoQ) (Q4)<\/td>\n2.6%<\/td>\n2.5%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 GDP Price Index (QoQ) (Q4)<\/td>\n2.4%<\/td>\n2.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 RMPI (MoM) (Jan)<\/td>\n-0.9%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUSD \u2013 Chicago PMI (Feb)<\/td>\n65.7<\/td>\n64.1<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Jan)<\/td>\n0.5%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 CrudeOIL Inventories<\/td>\n-1.616M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n0.261M<\/td>\n-0.283M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n


\n<\/u><\/strong><\/p>\n

 <\/p>\n

GBPUSD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded in consolidation within a descending triangle. MACD histogram that portrays increasing bearish momentum would suggest the pair to extend its losses further if breakout at 61.8 Fibonacci level is successful.<\/p>\n

Resistance level: 1.4350, 1.4990<\/p>\n

Support level: 1.3850, 1.3490<\/p>\n


\n<\/u><\/strong><\/p>\n

 <\/p>\n

EURUSD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower prior breaking support level at 1.2310. Arrangement of bearish candlesticks and MACD histogram that portrays increasing bearish momentum would suggest the pair to continue its downside bias towards the support level at 1.2160.<\/p>\n

Resistance level: 1.2310, 1.2390<\/p>\n

Support level: 1.2160, 1.2050<\/p>\n


\n<\/u><\/strong><\/p>\n

 <\/p>\n

USDJPY<\/u><\/strong><\/p>\n

\"\"\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher prior rebound from support level at 106.45. Formation of pin bar candlestick and MACD histogram that portrays increasing bullish momentum would suggest the pair to extend its gains towards the resistance level at 108.45.<\/p>\n

Resistance level: 108.45, 110.15<\/p>\n

Support level: 106.45, 104.25<\/p>\n

 <\/p>\n

\u00a0<\/strong><\/p>\n


\n<\/strong><\/p>\n

CrudeOIL<\/u><\/strong><\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower after breaking support level at 63.25 and 200-MA line. MACD histogram that shows increasing bearish momentum would suggest the commodity price to extend its losses towards the next support level at 61.80.<\/p>\n

Resistance level: 63.25, 64.55<\/p>\n

Support level: 61.80, 60.20<\/p>\n

 <\/p>\n

 <\/p>\n

\u00a0<\/strong><\/p>\n


\n<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

GOLD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower prior breaking support level at 1317.90. However, MACD histogram that shows diminishing bearish momentum would suggest the safe-haven asset price to undergo short-term technical correction to trade higher before continuing its bearish bias.<\/p>\n

Resistance level: 1317.90, 1327.10<\/p>\n

Support level: 1305.85, 1294.15<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

28 February 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Powell\u2019s optimistic outlook sends dollar higher.   Dollar index was traded higher against its major peers by 0.58% to 90.25 as of writing following hawkish comments from Federal Reserve Chair Jerome Powell in Capitol Hill testimony on inflation and economic growth in U.S. Overnight, Powell revealed his optimistic outlook […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25029"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=25029"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}