{"id":26210,"date":"2018-03-28T02:07:37","date_gmt":"2018-03-28T02:07:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=26210"},"modified":"2018-03-28T02:26:48","modified_gmt":"2018-03-28T02:26:48","slug":"280318-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280318-daily-analysis\/","title":{"rendered":"280318 Daily Analysis"},"content":{"rendered":"

28 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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Losses in Greenback limited following retreat of US-China trade war.<\/strong><\/p>\n

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Dollar index recovered by 0.33% from its five-week lows against a trade-weighted basket of major currencies, currently standing at 88.88 following an ease of fears over trade war between United States and China. In pursuing a win-win situation for both parties, Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer were reported to be involved in the negotiation – mainly on tariff reduction on imported cars, encouraging more purchase of U.S. made semiconductors (instead of those made from South Korea and Taiwan) as well as easing access for American businesses to China\u2019s markets. According to Chinese officials, they are working to finalize rules within the next two months to enable foreign financial groups to take majority stakes in Chinese securities firms. The retreat of the potential trade war has limit losses endured by the Greenback following release of negative economic data yesterday with the Conference Board\u2019s consumer confidence gauge missing the economists\u2019 forecast of 131, last recorded at 127.7. On the other hand, EUR\/USD fell 0.17% to $1.2411 attributable to a decline in the European Commission\u2019s index for the Euro zone by 1.6 to 112.6 this month, reflecting a reducing market optimism towards the manufacturing, service and retail sectors in the region.<\/p>\n

In the commodities market, crude oil price was down 0.46% to $64.85 per barrel while market participants await inventory data with expectation towards the U.S. crude stockpiles to continue its expansion following recent ramp up in domestic output. Likewise, gold price fell by 0.86% to $1346.68 a troy ounce following recent lift in the Greenback.<\/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

00:00 (Thu)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Member Bostic 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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
08:00<\/td>\nNZD \u2013 ANZ Business Confidence (Mar)<\/td>\n-19.0<\/td>\n–<\/td>\n-20.0<\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 GfK German Consumer Confidence (Mar)<\/td>\n10.8<\/td>\n10.7<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q4)<\/td>\n2.5%<\/td>\n2.7%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP Price Index (QoQ) (Q4)<\/td>\n2.3%<\/td>\n2.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Goods Trade Balance (Feb)<\/td>\n-75.26B<\/td>\n-74.10B<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Feb)<\/td>\n-4.7%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-2.622M<\/td>\n1.200M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n-1.693M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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GBPUSD, H1: <\/strong>GBPUSD was traded higher following breaking resistance level at 1.4130. MACD histogram that shows increasing bullish momentum would suggest the pair to extend its gains towards the resistance level at 1.4200.<\/p>\n

Resistance level: 1.4200, 1.4250<\/p>\n

Support level: 1.4130, 1.4100<\/p>\n

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

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EURUSD, H1: <\/strong>EURUSD was traded higher following rebound from support level at 1.2380. MACD signal line that portrays a golden-cross would suggest the pair to extend higher if breakout at the resistance level at 1.2420 is successful.<\/p>\n

Resistance level: 1.2420, 1.2460<\/p>\n

Support level: 1.2380, 1.2350
\n<\/u><\/strong><\/p>\n

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

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USDJPY, H1: <\/strong>USDJPY was traded higher following gaining its support at 105.30. MACD histogram that portrays diminishing bearish momentum would suggest the pair to extend its gains towards the resistance by 200-MA line.<\/p>\n

Resistance level: 105.80, 106.10<\/p>\n

Support level: 105.30, 104.90<\/p>\n


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

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CrudeOIL, H1: <\/strong>Crude oil price was traded higher after rebound from support level at 64.60. MACD histogram that shows diminishing bearish momentum would suggest the commodity price to undergo short-term technical correction to trade higher towards the resistance level at 65.25.<\/p>\n

Resistance level: 65.25, 66.25<\/p>\n

Support level: 64.60, 64.10<\/p>\n

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

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GOLD_, H1: <\/strong>Gold price was traded higher after rebound from support level at 1342.80. Golden-cross as displayed by MACD signal line would suggest the safe-haven asset price to extend its gains towards the resistance level at 1350.20.<\/p>\n

Resistance level: 1350.20, 1354.90<\/p>\n

Support level: 1342.80, 1338.10<\/p>\n","protected":false},"excerpt":{"rendered":"

28 March 2018\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Losses in Greenback limited following retreat of US-China trade war.   Dollar index recovered by 0.33% from its five-week lows against a trade-weighted basket of major currencies, currently standing at 88.88 following an ease of fears over trade war between United States and China. In pursuing a win-win […]<\/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\/26210"}],"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=26210"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/26210\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=26210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=26210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=26210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}