{"id":25268,"date":"2018-03-06T02:01:40","date_gmt":"2018-03-06T02:01:40","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25268"},"modified":"2018-03-06T02:01:40","modified_gmt":"2018-03-06T02:01:40","slug":"060318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/060318-daily-analysis\/","title":{"rendered":"060318 Daily Analysis"},"content":{"rendered":"

06 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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Greenback on the verge of falling?<\/strong><\/p>\n

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Dollar index was traded lower against a trade-weighted basket of major currencies by 0.17% to 89.93 following investors that took profit ahead major release of meeting minutes by other central banks and Non-farm Payroll this week. Overnight, the Greenback achieved minor gains of 0.04% following House Speaker Paul Ryan who urged President Donald Trump to dismiss his proposal on aluminium and steel tariffs to prevent breakout of a possible trade war. Overall, investors will be on-eyed towards statement released by the central banks as well as the NFP event this week to grasp further indication on the strength of the Greenback. On the contrary, EUR\/USD rose 0.09% to $1.2358 following an ease in geopolitical tension when Angela Merkel successfully secured her position as a chancellor for the fourth term after Germany\u2019s Social Democrats (SPD) supported a coalition deal with conservative Christian Democratic Union (CDU).<\/p>\n

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In the commodities market, crude oil price rose 2.16% to $62.72 per barrel, buoyed by a decline in crude stockpiles by 600K at the Cushing storage hub in Oklahoma, thus suggesting healthy domestic economic growth to continue supporting crude demand. Likewise, gold price rose 0.36% to $1322.82 a troy ounce following recent weakness of the dollar.<\/p>\n

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 <\/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

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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

11:30\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBA Rate Statement<\/p>\n

20:30\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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
08:01<\/td>\nGBP \u2013 BRC Retail Sales Monitor (YoY) (Feb)<\/td>\n0.6%<\/td>\n0.5%<\/td>\n0.6%<\/td>\n<\/tr>\n
08:30<\/td>\nAUD \u2013 Retail Sales (MoM) (Jan)<\/td>\n-0.5%<\/td>\n0.4%<\/td>\n0.1%<\/td>\n<\/tr>\n
11:30<\/td>\nAUD \u2013 RBA Interest Rate Decision<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Jan)<\/td>\n1.7%<\/td>\n-0.4%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCAD \u2013 Ivey PMI (Feb)<\/td>\n55.2<\/td>\n56.3<\/td>\n–<\/td>\n<\/tr>\n
05:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n0.933M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher prior breaking resistance level at 1.3800. MACD histogram that portrays increasing bullish momentum would suggest the pair to extend its gains towards the resistance level at 1.3915.<\/p>\n

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Resistance level: 1.3920, 1.4050<\/p>\n

Support level: 1.3800, 1.3660<\/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 1.2310. The pair is currently testing the next resistance level at 1.2345. MACD histogram that portrays increasing bullish momentum would suggest the pair to extend its gains if the current candlestick successfully closes above the said resistance level.<\/p>\n

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Resistance level: 1.2345, 1.2390<\/p>\n

Support level: 1.2310, 1.2280<\/p>\n


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

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher prior rebound from support level at 105.25. MACD histogram that portrays increasing bullish momentum would suggest the pair to extend its gains if breakout at resistance level 106.40 is successful.<\/p>\n

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Resistance level: 106.40, 107.10<\/p>\n

Support level: 105.25, 103.45<\/p>\n

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


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

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher prior gaining its support above the 200-MA line. However, MACD histogram that portrays diminishing bullish momentum would suggest the commodity price to undergo short-term technical correction to trade lower before continuing its bullish bias.<\/p>\n

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

Support level: 61.80, 60.90<\/p>\n

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\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 by 200-MA line. However, MACD histogram that portrays diminishing bearish momentum would suggest the safe-haven asset price to trade higher thus retesting the MA line.<\/p>\n

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Resistance level: 1326.80, 1335.20<\/p>\n

Support level: 1316.20, 1308.50<\/p>\n","protected":false},"excerpt":{"rendered":"

06 March 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Greenback on the verge of falling?   Dollar index was traded lower against a trade-weighted basket of major currencies by 0.17% to 89.93 following investors that took profit ahead major release of meeting minutes by other central banks and Non-farm Payroll this week. Overnight, the Greenback achieved minor gains […]<\/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\/25268"}],"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=25268"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25268\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}