{"id":25745,"date":"2018-03-16T02:54:31","date_gmt":"2018-03-16T02:54:31","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25745"},"modified":"2018-03-16T02:54:31","modified_gmt":"2018-03-16T02:54:31","slug":"160318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160318-daily-analysis\/","title":{"rendered":"160318 Daily Analysis"},"content":{"rendered":"

16 March 2018\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 accelerated following optimistic job data!<\/strong><\/p>\n

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Dollar index was traded higher against a trade-weighted basket of major currencies, last quoted up 0.40% to 90.01 following an upbeat labor market and easing of market fears over global trade wars. Overnight, despite the release of mixed manufacturing index data, the Greenback has successfully gained on its foot after the U.S. Department of Labor reported a decline in initial jobless claims by 4,000 to a seasonally adjusted 226,000, beating the expected reading of 230,000. In addition, an optimistic market sentiment towards rate hike by Federal Reserve next week provided further support to the dollar bull. On the contrary, GBP\/USD fell 0.19% to $1.3915 amid flaring of Brexit-related issues when the trio \u2013 United Kingdom, European Commission and Irish government are being reported to hold talks on the Irish-border issue which could resist smooth Brexit negotiations.<\/p>\n

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In the commodities market, crude oil price was traded steadily within key level at $61.10 after the International Energy Agengy (IEA) raised its forecast for oil demand to increase from 97.8 million bpd to 99.3 million bpd this year, but added that the commodity could be supplied at a faster rate. Otherwise, gold price extended losses by 0.20% to $1314.16 a troy ounce following dollar that regained its bullish strength yesterday.<\/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\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\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 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
12:30<\/td>\nJPY \u2013 Industrial Production (MoM) (Jan)<\/td>\n-6.6%<\/td>\n-6.6%<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 CPI (YoY) (Feb)<\/td>\n1.2%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Feb)<\/td>\n1.377M<\/td>\n1.330M<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Housing Starts (MoM) (Feb)<\/td>\n9.7%<\/td>\n6.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Manufacturing Sales (MoM) (Jan)<\/td>\n-0.3%<\/td>\n-0.9%<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nUSD \u2013 Industrial Production (MoM) (Feb)<\/td>\n-0.1%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Jan)<\/td>\n5.811M<\/td>\n5.850M<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Mar)<\/td>\n99.7<\/td>\n99.6<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n796<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower prior retracement from resistance level at 1.3950. Formation of engulfing candlestick pattern and MACD histogram that portrays ongoing bearish momentum would suggest the pair to extend its losses towards the support level at 1.3910.<\/p>\n

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Resistance level: 1.3950, 1.3980<\/p>\n

Support level: 1.3910, 1.3860<\/p>\n

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

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EURUSD, H4: <\/strong>EURUSD was traded lower after breaking trend line of symmetry triangle. The pair is currently testing the support level at 1.2300. MACD histogram that portrays ongoing 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: 1.2350, 1.2400<\/p>\n

Support level: 1.2300, 1.2250<\/p>\n


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

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following its failure to break resistance by 200-MA line. MACD histogram that portrays diminishing bullish momentum would suggest the pair to extend its losses towards the support level at 105.90.<\/p>\n

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Resistance level: 106.40, 106.90<\/p>\n

Support level: 105.90, 105.40<\/p>\n


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

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CrudeOIL, H4: <\/strong>Crude oil price was traded in consolidation within a descending triangle. An absence of obvious signals from both candlestick pattern and MACD histogram would suggest to wait for confirmation breakout before entering any trade.<\/p>\n

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Resistance level: 62.00, 63.60<\/p>\n

Support level: 60.50, 58.80<\/p>\n

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

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GOLD_, H1: <\/strong>Gold price was traded lower prior breaking support level at 1316.20 and the safe-haven asset is currently retesting its previous low. MACD histogram that portrays diminishing bearish momentum would suggest gold price to extend its gains if it successfully breaks the 38.2 Fibonacci level.<\/p>\n

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Resistance level: 1316.20, 1321.90<\/p>\n

Support level: 1309.60, 1300.80<\/p>\n","protected":false},"excerpt":{"rendered":"

16 March 2018\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Dollar bull accelerated following optimistic job data!     Dollar index was traded higher against a trade-weighted basket of major currencies, last quoted up 0.40% to 90.01 following an upbeat labor market and easing of market fears over global trade wars. Overnight, despite the release of mixed manufacturing […]<\/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\/25745"}],"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=25745"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25745\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}