{"id":25088,"date":"2018-03-01T01:45:10","date_gmt":"2018-03-01T01:45:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25088"},"modified":"2018-03-01T01:57:55","modified_gmt":"2018-03-01T01:57:55","slug":"010318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010318-daily-analysis\/","title":{"rendered":"010318 Daily Analysis"},"content":{"rendered":"

01 March 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

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Dollar bull remains buoyant despite weak economic data. <\/strong><\/p>\n

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Dollar index was traded fairly stronger against its major peers after it rose 0.18% to 90.61 as of writing. Despite the release of bearish economic data on yesterday, the greenback limits its losses as market participants\u2019 sentiment turned optimistic on a more aggressive stance towards interest rate hike by the Federal Reserve. Overnight, the annual pace of growth in the U.S. surrendered its gains by 0.1% to 2.5% in the fourth quarter. In addition, the Chicago business barometer fell from 65.7 to 62.9 this month while pending home sales did not perform on par with economists\u2019 forecast of a 0.4% increase, last stood at -4.7%. By 11pm (GMT+8) tonight, Fed Chair Jerome Powell will be attending the second part of testimonial whereby a question-and-answer (Q&A) session is to be expected. Any key point elaborated is likely to stir market volatility to a greater extent. On the contrary, USD\/JPY was down 0.68% to 106.61 following a \u201cmini tapering\u201d by Bank of Japan (BoJ) that reduces its 25-40Y JGBs purchase by a 10 billion Yen on yesterday.<\/p>\n

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In the commodities market, crude oil price fell 11cents to $61.53 per barrel following an increase in U.S. crude inventories by 3 million barrels which is much greater than the expected 2.1 million barrels. Likewise, gold price was down 0.05% to $1315.90 a troy ounce as investors remained optimistic towards the Fed to adopt a more aggressive stance on its monetary policy this year.<\/p>\n

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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

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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

23:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Fed Chair Powell Testifies<\/p>\n

00:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Member Dudley Speaks<\/p>\n

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Today\u2019s Highlight Economy Data<\/u><\/p>\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
08:30<\/td>\nAUD \u2013 Private New Capital Expenditure (QoQ) (Q4)<\/td>\n1.0%<\/td>\n1.1%<\/td>\n-0.2%<\/td>\n<\/tr>\n
09:45<\/td>\nCNY \u2013 Caixin Manufacturing PMI (Feb)<\/td>\n51.5<\/td>\n51.3<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGBP \u2013 Nationwide HPI (MoM) (Feb)<\/td>\n0.6%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Manufacturing PMI (Feb)<\/td>\n60.3<\/td>\n60.3<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Manufacturing PMI (Feb)<\/td>\n58.5<\/td>\n58.5<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI (Feb)<\/td>\n55.3<\/td>\n55.1<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core PCE Price Index (YoY) (Jan)<\/td>\n1.5%<\/td>\n1.5%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core PCE Price Index (MoM) (Jan)<\/td>\n0.2%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n222K<\/td>\n226K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Personal Income (MoM) (Jan)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Personal Spending (MoM) (Jan)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Feb)<\/td>\n54.2<\/td>\n57.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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GBPUSD, H4: <\/strong>GBPUSD was traded lower prior breaking support level at 1.3805. MACD histogram that portrays increasing bearish momentum would suggest the pair to extend its losses towards the support level at 1.3665.<\/p>\n

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Resistance level: 1.3805, 1.3915<\/p>\n

Support level: 1.3665, 1.3455<\/p>\n


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

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EURUSD, H1: <\/strong>EURUSD was traded lower prior breaking support level at 1.2215. MACD signal line that portrays a death-cross would suggest the pair to extend its losses towards the next support level at 1.2165.<\/p>\n

Resistance level: 1.2215, 1.2310<\/p>\n

Support level: 1.2165, 1.2045<\/p>\n


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

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USDJPY, H1:<\/strong> USDJPY was traded higher prior rebound from support level at 106.50. MACD histogram that shows diminishing bearish momentum would suggest the pair to undergo short-term technical correction to trade higher before continuing its bearish bias.<\/p>\n

Resistance level: 107.40, 108.50<\/p>\n

Support level: 106.50, 105.60<\/p>\n

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

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower after breaking support level at 61.80. MACD histogram that portrays increasing bearish momentum would suggest the pair to extend its downside bias towards the next support level at 60.20.<\/p>\n

Resistance level: 61.80, 63.20<\/p>\n

Support level: 60.20, 58.60<\/p>\n

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

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

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GOLD_, H1: <\/strong>Gold price was traded lower after breaking support level at 1317.90. MACD signal line that portrays a death-cross would suggest the safe-haven asset price to extend its losses towards the support level at 1305.85.<\/p>\n

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

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

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

01 March 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Dollar bull remains buoyant despite weak economic data.   Dollar index was traded fairly stronger against its major peers after it rose 0.18% to 90.61 as of writing. Despite the release of bearish economic data on yesterday, the greenback limits its losses as market participants\u2019 sentiment turned optimistic on […]<\/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\/25088"}],"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=25088"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25088\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}