{"id":25402,"date":"2018-03-08T02:16:23","date_gmt":"2018-03-08T02:16:23","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25402"},"modified":"2018-03-08T02:16:23","modified_gmt":"2018-03-08T02:16:23","slug":"080318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080318-daily-analysis\/","title":{"rendered":"080318 Daily Analysis"},"content":{"rendered":"

08 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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ECB in focus, Trump\u2019s trade rhetoric tumbles dollar. <\/strong><\/p>\n

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Dollar index was traded lower against a basket of major currencies by 0.11% to 89.55 following ongoing market concerns over imposition of new U.S. import tariffs. Despite growing pressure from political allies, President Trump mentioned that he would not back down from the measures as a recommitment to his nationalist trade agenda. Hence, Trump\u2019s trade rhetoric have sparked fears among market participants in which retaliation from U.S. trade partners including China and the European Union, resulting in reducing their holdings of U.S. assets. On the contrary, EUR\/USD was traded within consolidation near key level $1.2400 while investors await ECB Press Conference due tonight. It is widely expected that the ECB would keep interest rates and its asset purchases of $30bn per month unchanged. On that account, investors will be on-eyed towards delivery of speech by President Draghi to grasp further indication on the economy in European zone.<\/p>\n

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In the commodities market, crude oil price pared its losses by 0.31% to $61.34 per barrel following EIA that reported U.S. crude inventories which has risen by 2.4 million barrels last week, much lesser than the forecast reading to increase 2.7 million barrel. Likewise, gold price rose 0.04% to $1326.47 a troy ounce following dollar weakness.<\/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

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB Press Conference<\/p>\n

00:00 (Fri)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoC Gov Poloz 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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
07:50<\/td>\nJPY \u2013 GDP (QoQ) (Q4)<\/td>\n0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
Tentative<\/td>\nCNY \u2013 Trade Balance (USD) (Feb)<\/td>\n20.35B<\/td>\n-8.50B<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGerman Factory Orders (MoM) (Jan)<\/td>\n3.8%<\/td>\n-1.9%<\/td>\n–<\/td>\n<\/tr>\n
20:45<\/td>\nEUR \u2013 Deposit Facility Rate<\/td>\n-0.40%<\/td>\n-0.40%<\/td>\n–<\/td>\n<\/tr>\n
20:45<\/td>\nEUR \u2013 ECB Interest Rate Decision (Mar)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nCAD \u2013 Housing Starts (Feb)<\/td>\n216.2K<\/td>\n219.0K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n210K<\/td>\n216K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Building Permits (MoM) (Jan)<\/td>\n4.8%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 New Housing Price Index (MoM) (Jan)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher after breaking resistance level at 1.3890. MACD histogram that portrays diminishing bullish momentum would suggest the pair to undergo short-term technical correction to trade lower before extending its gains.<\/p>\n

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Resistance level: 1.3990, 1.4050<\/p>\n

Support level: 1.3890, 1.3790<\/p>\n


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

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

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

EURUSD, H4: <\/strong>EURUSD was traded higher prior gaining its support at 1.2390. However, MACD signal line that portrays a death-cross would suggest the pair to undergo short-term technical correction to trade lower towards its previous high.<\/p>\n

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Resistance level: 1.2450, 1.2540<\/p>\n

Support level: 1.2390, 1.2340<\/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 after rebound from support level at 105.30. MACD signal line that portrays a hidden positive divergence would suggest the pair to extend its gains towards the resistance level at 106.75.<\/p>\n

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Resistance level: 106.75, 107.80<\/p>\n

Support level: 105.30, 103.60<\/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 following its rebound from support level at 60.80. MACD histogram that portrays diminishing bearish momentum would suggest the commodity price to undergo short-term technical correction to trade higher before extending its bearish bias.<\/p>\n

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Resistance level: 61.80, 62.50<\/p>\n

Support level: 60.80, 60.20<\/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 higher prior rebound from support by 200-MA and it is currently testing the resistance level at 1326.80. MACD histogram that displays diminishing bearish momentum would suggest the safe-haven asset price to extend its gains if breakout at the previous low is successful.<\/p>\n

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

Support level: 1316.20, 1308.60<\/p>\n","protected":false},"excerpt":{"rendered":"

08 March 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   ECB in focus, Trump\u2019s trade rhetoric tumbles dollar.   Dollar index was traded lower against a basket of major currencies by 0.11% to 89.55 following ongoing market concerns over imposition of new U.S. import tariffs. Despite growing pressure from political allies, President Trump mentioned that he would not back […]<\/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\/25402"}],"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=25402"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25402\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}