{"id":25971,"date":"2018-03-21T01:28:45","date_gmt":"2018-03-21T01:28:45","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=25971"},"modified":"2018-03-21T01:32:49","modified_gmt":"2018-03-21T01:32:49","slug":"210318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210318-daily-analysis\/","title":{"rendered":"210318 Daily Analysis"},"content":{"rendered":"

21 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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FOMC on-eyed; Euro plunged amid fears over trade war.<\/strong><\/p>\n

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Dollar index rose against a trade-weighted basket of major currencies by 0.47% to 89.86 as of writing following a highly optimistic market sentiment towards the U.S. Federal Reserve to have their first rate hike of the year during its FOMC meeting. Market participants will also have their eyes on the release of the Summary of Economic Projection<\/em> to gain further indication on inflation, unemployment and economic growth forecast in the region. According to the Fed\u2019s dot plot in December 2017, the median forecast for rate hike was only three times. As recent statement among the Fed members including the newly appointed Fed Chairman Jerome Powell has turned hawkish, the prospect for rate hike has increased to four times. On the other hand, EUR\/USD was down 0.49% to $1.2254 after a report showing deteriorating German economic sentiment amid fears over a possible trade war following implementation of Trump\u2019s tariff plan.<\/p>\n

In the commodities market, crude oil price rose 2.2% to its three-week highs, currently traded at $63.75 per barrel following U.S. sanctions against the Iran which could lead to plausible supply disruptions. Otherwise, gold price was traded steadily around $1311.50 a troy ounce while investors are looking forward to the release of FOMC statement.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Vernal Equinox<\/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

02:00 (Thu)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Economic Projection<\/p>\n

02:00 (Thu)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Statement<\/p>\n

02:30 (Thu)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Press Conference<\/p>\n

04:00 (Thu)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBNZ Rate Statement<\/p>\n

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\n<\/u><\/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
17:30<\/td>\nGBP \u2013 Average Earnings Index + Bonus (Jan)<\/td>\n2.5%<\/td>\n2.6%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Claimant Count Change (Feb)<\/td>\n-7.2K<\/td>\n-3.1K<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Unemployment Rate (Jan)<\/td>\n4.4%<\/td>\n4.4%<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP \u2013 CBI Industrial Trends Orders (Mar)<\/td>\n10<\/td>\n8<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Feb)<\/td>\n5.38M<\/td>\n5.41M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n5.022M<\/td>\n3.672M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n-6.271M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nUSD \u2013 Fed Interest Rate Decision<\/td>\n1.50%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n
04:00<\/td>\nNZD \u2013 RBNZ Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/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 higher prior rebound from support level at 1.3980. MACD histogram that portrays diminishing bearish momentum would suggest the pair to trade higher towards the resistance level at 1.4020.<\/p>\n

Resistance level: 1.4020, 1.4060<\/p>\n

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

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

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EURUSD, H1: <\/strong>EURUSD was traded higher after breaking resistance level at 1.2240. MACD histogram that portrays diminishing bearish momentum would suggest the pair to undergo short-term technical correction to extend higher before continuing its bearish bias.<\/p>\n

Resistance level: 1.2290, 1.2300<\/p>\n

Support level: 1.2240, 1.2210<\/p>\n


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

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher prior breaking resistance level at 106.40. MACD histogram that portrays diminishing bullish momentum would suggest the pair to undergo short-term technical correction to trade lower towards its previous high.<\/p>\n

Resistance level: 106.60, 106.85<\/p>\n

Support level: 106.40, 106.10<\/p>\n


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

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher prior breaking resistance level at 63.15. MACD histogram that portrays increasing bullish momentum would suggest the commodity price to extend its gains towards the next resistance level at 63.95.<\/p>\n

Resistance level: 63.95, 64.50<\/p>\n

Support level: 63.15, 62.20<\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher prior breaking resistance level at 1309.70. MACD histogram that portrays diminishing bearish momentum would suggest the safe-haven asset price to undergo short-term technical correction to trade higher towards the resistance level at 1314.30.<\/p>\n

Resistance level: 1314.30, 1317.40<\/p>\n

Support level: 1309.70, 1303.80<\/p>\n","protected":false},"excerpt":{"rendered":"

21 March 2018\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   FOMC on-eyed; Euro plunged amid fears over trade war.   Dollar index rose against a trade-weighted basket of major currencies by 0.47% to 89.86 as of writing following a highly optimistic market sentiment towards the U.S. Federal Reserve to have their first rate hike of the year during […]<\/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\/25971"}],"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=25971"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/25971\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=25971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=25971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=25971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}