{"id":26459,"date":"2018-04-03T02:02:11","date_gmt":"2018-04-03T02:02:11","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=26459"},"modified":"2018-04-03T02:28:49","modified_gmt":"2018-04-03T02:28:49","slug":"030418-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030418-daily-analysis\/","title":{"rendered":"030418 Daily Analysis"},"content":{"rendered":"

03 April 2018\u00a0\u00a0\u00a0\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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Greenback slumped over escalation of U.S.-China trade war.<\/strong><\/p>\n

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Dollar index slipped lower against a trade-weighted basket of major currencies by 0.06% to 89.62 as of writing following the release of softer U.S. manufacturing data and escalating trade tensions between U.S. and China. Overnight, ISM purchasing managers\u2019 index has recorded a fall to 59.3, missing the expected reading of 60.1. In addition, Greenback was being pressured continuously after China unveiled its retaliatory by imposing up to 25% tariffs on 128 different U.S. imports including seamless steel pipes, fruit, nuts and wine in response to Trump administration\u2019s introduction of new tariffs on Chinese imports which is likely to include about $50 billion to $60 billion worth of technology products. As a consequence, increased trade tensions between the two biggest economies in the world added investors\u2019 fears over the prospect of a trade war. On the contrary, USD\/JPY was down 0.24% to 105.88 following recent escalation of U.S. \u2013 China trade war tensions.<\/p>\n

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In the commodities market, crude oil price extended losses by 1.57% to $63.15 per barrel after Russia reported an increase in crude production from 10.95 million bpd to 10.97 million bpd for the month of February, thus increasing investors\u2019 concerns of oversupply. Otherwise, gold price rose 1.63% to $1338.10 a troy ounce attributable to renewed trade war between the U.S. and China.<\/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

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBA Rate Statement<\/p>\n

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 Member Kashkari Speaks<\/p>\n

04:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 Member Brainard Speaks<\/p>\n

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Today\u2019s Highlight Economy Data<\/u><\/p>\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>\nAUD \u2013 RBA Interest Rate Decision (Apr)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Retail Sales (MoM) (Feb)<\/td>\n-0.7%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Mar)<\/td>\n58.4<\/td>\n58.4<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 Manufacturing PMI (Mar)<\/td>\n56.6<\/td>\n56.6<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (Mar)<\/td>\n55.2<\/td>\n54.8<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n5.321M<\/td>\n–<\/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 in consolidation between resistance level at 1.4080 and support level at 1.4010. A lack of obvious signal from both candlestick pattern and MACD would suggest to wait for confirmation breakout to grasp the next movement of the pair.<\/p>\n

Resistance level: 1.4080, 1.4130<\/p>\n

Support level: 1.4010, 1.3910<\/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 retracement from 200-MA line. MACD signal line that portrays a death-cross suggests downside bias for the pair yet a breakout below the 23.6 Fibonacci level and ascending trend line is required to confirm the signal. \u00a0<\/strong><\/p>\n

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

Resistance level: 1.2345, 1.2415<\/p>\n

Support level: 1.2290, 1.2220<\/p>\n


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

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower after breaking support level at 106.00. Arrangement of bearish candlesticks and MACD histogram that shows increasing bearish momentum would suggest the pair to extend its losses towards the support level at 105.40.<\/p>\n

Resistance level: 106.00, 106.50<\/p>\n

Support level: 105.40, 104.60<\/p>\n


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

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

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CrudeOIL, H1: <\/strong>Crude oil price was traded lower after breaking support level at 63.30. However, MACD histogram that portrays diminishing bearish momentum would suggest the commodity price to undergo short-term technical correction to trade higher to retest its previous low.<\/p>\n

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

Resistance level: 63.30, 63.80<\/p>\n

Support level: 62.40, 61.40<\/p>\n

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

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GOLD_, H1: <\/strong>Gold price was traded lower prior its failure to break resistance level at 1342.80. MACD signal line that shows a death-cross would indicate the safe-haven asset price to undergo short-term technical correction to trade lower towards the support level at 1338.10.<\/p>\n

Resistance level: 1342.80, 1350.20<\/p>\n

Support level: 1338.10, 1334.90<\/p>\n","protected":false},"excerpt":{"rendered":"

03 April 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Greenback slumped over escalation of U.S.-China trade war.   Dollar index slipped lower against a trade-weighted basket of major currencies by 0.06% to 89.62 as of writing following the release of softer U.S. manufacturing data and escalating trade tensions between U.S. and China. Overnight, ISM purchasing managers\u2019 index […]<\/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\/26459"}],"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=26459"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/26459\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=26459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=26459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=26459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}