{"id":25158,"date":"2018-03-02T01:36:38","date_gmt":"2018-03-02T01:36:38","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25158"},"modified":"2018-03-02T01:36:38","modified_gmt":"2018-03-02T01:36:38","slug":"020318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020318-daily-analysis\/","title":{"rendered":"020318 Daily Analysis"},"content":{"rendered":"

02 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

 <\/p>\n

Dollar bull terminator: Trump\u2019s tariff casted fears of trade war.<\/strong><\/p>\n

 <\/p>\n

Dollar index was traded lower against a trade-weighted basket of major currencies by 0.41% to 90.24 following fears of trade war triggered by President Donald Trump\u2019s statement to impose tariffs on commodity imports started next week. According to the U.S. president, a 25% tariff and a 10% tariff will be imposed on steel and aluminium imports respectively. The highly controversial move has casted fears that the U.S. main trading partners including China could take countermeasures. All in all, investors\u2019 sentiment remained optimistic following President Fed Jerome Powell who reiterated yesterday during the second part of testimony that no evidence is seen on current economy that is overheating while an increase in wage growth was not significant. On the contrary, GBP\/USD was traded steadily around key level $1.3775 while investors on-eyed towards speech by UK Prime Minister Theresa May regarding Brexit deal.<\/p>\n

\n

In the commodities market, crude oil price rose 0.4% to $61.15 per barrel following optimistic sentiment for a global oil surplus is coming to an end. In respective of that, the OPEC will be having its meeting with U.S. shale firms in Houston to discuss topics on taming a global oil glut. Likewise, gold price rose 0.06% to $1316.01 a troy ounce following fears of a global trade war,<\/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

18:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE Gov Carney Speaks<\/p>\n

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0GBP \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 UK Prime Minister May Speaks<\/p>\n

 <\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
07:30<\/td>\nJPY \u2013 Household Spending (YoY) (Jan)<\/td>\n-0.1%<\/td>\n-0.3%<\/td>\n–<\/td>\n<\/tr>\n
07:30<\/td>\nJPY \u2013 National Core CPI (YoY) (Jan)<\/td>\n0.9%<\/td>\n0.9%<\/td>\n–<\/td>\n<\/tr>\n
07:30<\/td>\nJPY \u2013 Tokyo Core CPI (YoY) (Feb)<\/td>\n0.7%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German Retail Sales (MoM) (Jan)<\/td>\n-1.9%<\/td>\n0.9%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Construction PMI (Feb)<\/td>\n50.2<\/td>\n50.5<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 GDP (MoM) (Dec)<\/td>\n0.4%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Feb)<\/td>\n95.7<\/td>\n98.9<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n799<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower prior breaking support level at 1.3805. MACD histogram that displays diminishing bearish momentum would suggest the pair to undergo short-term technical correction to retest its previous low.<\/p>\n

\n

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

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

 <\/p>\n


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

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher prior breaking resistance level at 1.2215. MACD histogram that portrays increasing bullish momentum would suggest the pair to extend its gains towards the resistance level at 1.2310.<\/p>\n

\n

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

Support level: 1.2215, 1.2165<\/p>\n


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

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1:<\/strong> USDJPY was traded higher prior rebound from support level at 106.10. 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

\n

Resistance level: 106.50, 107.10<\/p>\n

Support level: 106.10, 105.60<\/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 higher prior rebound from support level at 60.20. MACD histogram that shows diminishing bearish momentum would suggest the commodity price to extend its gains towards the resistance level at 61.80.<\/p>\n

\n

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

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

 <\/p>\n

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


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

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

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher prior rebound from support level at 1305.85. MACD signal line that portrays a golden-cross would suggest the safe-haven asset price to trade higher if breakout at the 78.6 Fibonacci level is successful.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

02 March 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Dollar bull terminator: Trump\u2019s tariff casted fears of trade war.   Dollar index was traded lower against a trade-weighted basket of major currencies by 0.41% to 90.24 following fears of trade war triggered by President Donald Trump\u2019s statement to impose tariffs on commodity imports started next week. According to […]<\/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\/25158"}],"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=25158"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25158\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}