{"id":25464,"date":"2018-03-09T02:12:25","date_gmt":"2018-03-09T02:12:25","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25464"},"modified":"2018-03-09T02:12:25","modified_gmt":"2018-03-09T02:12:25","slug":"090318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090318-daily-analysis\/","title":{"rendered":"090318 Daily Analysis"},"content":{"rendered":"

09 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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Draghi downplayed ECB\u2019s decision; Dollar lifted by Dudley\u2019s hawkish statement.<\/strong><\/p>\n

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EUR\/USD reversed gains by 0.08% to $1.2300 as of writing following a downplay decision by European Central Bank (ECB) President Mario Draghi to drop a pledge in extending its Quantitative Easing (QE) program if required. The statement has been interpreted as they could be nearing a move towards normalizing their monetary policy measures. \u00a0However, the pair tumbles later on as President Draghi downplayed the ECB\u2019s decision by simply calling the decision to drop the easing bias as a \u2018backward looking\u2019 and \u2018unanimous\u2019 move. Thus, Euro tumbled while markets were convinced that the ECB was not on the verge of turning hawkish. On the contrary, dollar index found its support with gains of 0.11% to 90.22 following hawkish comments from New York Federal Reserve President William Dudley. He expressed optimism by stating that \u2018gradual\u2019 rate hikes could mean four instead of three times prior to current developing strength of the U.S. economy, accelerating wage growth and higher-than-anticipated CPI inflation. His bullish view has drawn market participants\u2019 attention away from the ongoing talk of trade wars as caused by President Trump\u2019s tariff plan.<\/p>\n

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In the commodities market, crude oil price was traded lower by 2.3% to $60.37 per barrel following concerns over soaring output from the U.S. that has recorded a rise of 23% to 10.37 million barrels per day. Likewise, gold price was down by 0.17% following dollar that has successfully gained its support.<\/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

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BoJ Monetary Policy Statement (YoY)<\/p>\n

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BoJ Press Conference<\/p>\n

01:40(Sat)\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 Rosengren 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\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 (MoM) (Jan)<\/td>\n-2.5%<\/td>\n-0.4%<\/td>\n2.7%<\/td>\n<\/tr>\n
09:30<\/td>\nCNY \u2013 CPI (YoY) (Feb)<\/td>\n1.5%<\/td>\n2.5%<\/td>\n2.9%<\/td>\n<\/tr>\n
09:30<\/td>\nCNY \u2013 PPI (YoY) (Feb)<\/td>\n4.3%<\/td>\n3.8%<\/td>\n3.7%<\/td>\n<\/tr>\n
Tentative<\/td>\nJPY \u2013 BoJ Interest Rate Decision<\/td>\n-0.10%<\/td>\n-0.10%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German Industrial Production (MoM) (Jan)<\/td>\n-0.6%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German Trade Balance (Jan)<\/td>\n21.4B<\/td>\n21.1B<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Jan)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Trade Balance (Jan)<\/td>\n-5.18B<\/td>\n-4.10B<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Feb)<\/td>\n0.3%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Feb)<\/td>\n200K<\/td>\n204K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Participation Rate (Feb)<\/td>\n62.7%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Unemployment Rate (Feb)<\/td>\n4.0%<\/td>\n4.1%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Employment Change (Feb)<\/td>\n-88.0K<\/td>\n17.5K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Unemployment Rate (Feb)<\/td>\n5.9%<\/td>\n5.9%<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n800<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following its failure to break resistance level at 1.3900. The pair is currently testing the support level at 1.3790. MACD histogram that portrays increasing bearish momentum would suggest GBPUSD to extend its losses if closure of candlestick below the said support level is successful.<\/p>\n

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Resistance level: 1.3900, 1.4000<\/p>\n

Support level: 1.3790, 1.3650<\/p>\n


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

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

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EURUSD, H4: <\/strong>EURUSD was traded lower prior breaking support by 200-MA line and support level at 1.2310. The pair is currently testing the next support level at 1.2300. MACD histogram that portrays increasing bearish momentum would suggest the pair to extend its losses if breakout at the said support level is successful.<\/p>\n

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Resistance level: 1.2340, 1.2380<\/p>\n

Support level: 1.2300, 1.2270<\/p>\n


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

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

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USDJPY, H4: <\/strong>USDJPY was traded higher prior rebound from support level at 105.50. The pair is currently testing the resistance level at 106.80. MACD histogram that shows increasing bullish momentum would suggest the pair to extend higher if closure of candlestick above the said resistance level is successful.<\/p>\n

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Resistance level: 106.80, 107.80<\/p>\n

Support level: 105.50, 103.60<\/p>\n

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


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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following rebound from support level at 60.20. Formation of pin bar candlestick and positive divergence by MACD histogram would suggest the commodity price to extend its gains towards the resistance level at 60.80.<\/p>\n

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Resistance level: 60.80, 61.80<\/p>\n

Support level: 60.20, 58.60<\/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 after breaking support by 200-MA line. MACD histogram that portrays increasing bearish momentum would suggest the safe-haven asset price to extend its losses towards the support level at 1316.20.<\/p>\n

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

Support level: 1316.20, 1309.60<\/p>\n","protected":false},"excerpt":{"rendered":"

09 March 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Draghi downplayed ECB\u2019s decision; Dollar lifted by Dudley\u2019s hawkish statement.   EUR\/USD reversed gains by 0.08% to $1.2300 as of writing following a downplay decision by European Central Bank (ECB) President Mario Draghi to drop a pledge in extending its Quantitative Easing (QE) program if required. The statement has […]<\/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\/25464"}],"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=25464"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25464\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}