{"id":26577,"date":"2018-04-05T01:54:50","date_gmt":"2018-04-05T01:54:50","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=26577"},"modified":"2018-04-05T02:32:39","modified_gmt":"2018-04-05T02:32:39","slug":"050418-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050418-daily-analysis\/","title":{"rendered":"050418 Daily Analysis"},"content":{"rendered":"

05 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 muted in anticipation of NFP and Powell\u2019s speech.<\/strong><\/p>\n

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Greenback was traded in consolidation against its major peers, currently standing at 89.71 following the release of mixed economic data while U.S. \u2013 China trade concerns continued to weigh on the outlook for the U.S. currency. Overnight, ADP nonfarm employment change recorded an increase of 241K, well above the economists\u2019 expectation of 208K. However, the upbeat data has failed to lift the Greenback following both services PMI and ISM Non-Manufacturing PMI that missed the expected reading. At the same time, fears over the prospect of an all-out trade war between the U.S. and China continued to limit on dollar bull. All in all, market participants will be on-eyed towards the release of NFP reports and speech by Federal Reserve Chairman Jerome Powell due this Friday to determine the direction of the dollar. On the contrary, GBP\/USD remains broadly higher at $1.4087 following gains of 0.16%. The pair came under pressure earlier following construction PMI that missed the forecast reading of 50.9, last stood at 47.0. The slowdown of construction activity in the region was believed to be due to unreasonably cold weather.<\/p>\n

In the commodities market, crude oil price pared its losses by 0.24% to $63.49 per barrel following Energy Information Administration (EIA) report that showed a surprise huge draw in U.S. crude supplies by 4.617 million barrels last week as compared to the economists\u2019 expectation for a rise of 1.4 million barrels. Otherwise, gold price extended losses by 0.12% to $1331.19 a troy ounce following profit-taking by traders ahead the release of NFP data and speech by Jerome Powell.<\/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

01:00 (Fri)\u00a0 \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 \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\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
08:30<\/td>\nAUD \u2013 Trade Balance<\/td>\n1.055B<\/td>\n0.720B<\/td>\n–<\/td>\n<\/tr>\n
15:15<\/td>\nCHF \u2013 CPI (MoM) (Mar)<\/td>\n0.4%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Services PMI (Mar)<\/td>\n54.2<\/td>\n54.2<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 Markit Composite PMI (Mar)<\/td>\n55.3<\/td>\n55.3<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 Services PMI (Mar)<\/td>\n55.0<\/td>\n55.0<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Mar)<\/td>\n54.5<\/td>\n54.2<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Retail Sales (MoM) (Feb)<\/td>\n-0.1%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n215K<\/td>\n223K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Trade Balance (Feb)<\/td>\n-56.60B<\/td>\n-56.50B<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/u><\/td>\nCAD \u2013 Trade Balance (Feb)<\/u><\/td>\n-1.91B<\/td>\n-2.10B<\/td>\n–<\/u><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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GBPUSD, H4: <\/strong>GBPUSD was traded in consolidation between resistance level at 1.4090 and support level at 1.4010. Absence of significant signals from both candlestick pattern and MACD would suggest to wait for confirmation breakout to grasp the next movement of the pair in short-term.<\/p>\n

Resistance level: 1.4090, 1.4150<\/p>\n

Support level: 1.4000, 1.3910<\/p>\n


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

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EURUSD, H4: <\/strong>EURUSD was traded higher prior rebound from support level at 1.2250. The pair is currently testing the resistance level at 1.2290. Positive divergence as displayed by MACD histogram would suggest the pair to extend its gains if breakout at the said resistance level is successful.<\/p>\n

Resistance level: 1.2290, 1.2310<\/p>\n

Support level: 1.2250, 1.2220<\/p>\n


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

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USDJPY, H4: <\/strong>USDJPY was traded higher prior breaking resistance level at 106.65. The pair is currently testing the resistance by descending trend line. MACD histogram that portrays increasing bullish momentum would suggest the pair to extend its gains if the pair successfully breaks the trend line as mentioned.<\/p>\n

Resistance level: 107.00, 107.50<\/p>\n

Support level: 106.65, 106.40<\/p>\n


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

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CrudeOIL, H1: <\/strong>Crude oil price was traded higher prior gaining its support at 63.10. However, MACD histogram that portrays diminishing bullish momentum would suggest the commodity price to undergo short-term technical correction to trade lower before continuing its bullish bias.<\/p>\n

Resistance level: 63.80, 64.20<\/p>\n

Support level: 63.10, 62.30<\/p>\n

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

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GOLD_, H4: <\/strong>Gold price was traded lower after breaking support level at 1334.90. Arrangement of bearish candlesticks and death-cross as displayed by MACD signal line would suggest the safe-haven asset price to extend its losses towards the support level at 1327.90.<\/p>\n

Resistance level: 1334.90, 1337.70<\/p>\n

Support level: 1327.90, 1321.10<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

05 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 muted in anticipation of NFP and Powell\u2019s speech.   Greenback was traded in consolidation against its major peers, currently standing at 89.71 following the release of mixed economic data while U.S. \u2013 China trade concerns continued to weigh on the outlook for the U.S. currency. Overnight, ADP […]<\/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\/26577"}],"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=26577"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/26577\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=26577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=26577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=26577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}