{"id":26834,"date":"2018-04-11T02:09:03","date_gmt":"2018-04-11T02:09:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=26834"},"modified":"2018-04-11T02:26:54","modified_gmt":"2018-04-11T02:26:54","slug":"110418-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/110418-daily-analysis\/","title":{"rendered":"110418 Daily Analysis"},"content":{"rendered":"

11 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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Dollar-bull fails over a siege by other major currencies. <\/strong><\/p>\n

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Dollar index fell 0.13% against a basket of major currencies to 89.25 as of writing despite the release of optimistic producer inflation data following pressures by a surge in other major currencies. Overnight, the Producer Price Index (PPI) was released by the Labor Department showing an actual reading with 0.3% increase, much better than the economists\u2019 forecast for 0.1% growth. According to Bank of Montreal, the data has reflected a healthy price pressure at the producer level, thus they will wait for Consumer Price Index (CPI) data to be released due tonight to determine if increasing input costs were passed onto consumers. Nonetheless, the upbeat economic data has failed to lift the Greenback following a rise in other currencies especially Pound Sterling and the Loonie. GBP\/USD rose 0.32% to $1.4175 following an optimistic remark made by BoE monetary policy committee member Ian McCafferty that UK interest rates should be increased again in near term without delay. In addition, USD\/CAD plunged 0.71% to C$ 1.2598 prior to a strong upsurge in oil prices and ongoing outlooks that a new North American Free Trade Agreement (NAFTA) deal will be announced sooner on 13th<\/sup> April.<\/p>\n

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In the commodities market, crude oil price rallied 3.30% to its 2-week highs, currently standing at $65.30 per barrel following rising geopolitical tensions between U.S. and Syria that could lead to supply disruptions in the Middle East. Likewise, gold price rose 0.42% to $1342.33 a troy ounce following a fall 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

19:00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ECB President Draghi Speaks<\/p>\n

02:00 (Thu)\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 FOMC Meeting Minutes<\/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
08:30<\/td>\nAUD \u2013 Westpac Consumer Sentiment (Apr)<\/td>\n0.2%<\/td>\n–<\/td>\n-0.6%<\/td>\n<\/tr>\n
09:30<\/td>\nCNY \u2013 CPI (YoY) (Mar)<\/td>\n2.9%<\/td>\n2.6%<\/td>\n2.1%<\/td>\n<\/tr>\n
09:30<\/td>\nCNY \u2013 PPI (YoY) (Mar)<\/td>\n3.7%<\/td>\n3.4%<\/td>\n3.1%<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Industrial Production (MoM) (Feb)<\/td>\n1.3%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Feb)<\/td>\n0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Trade Balance (Feb)<\/td>\n-12.33B<\/td>\n-11.90B<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core CPI (MoM) (Mar)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-4.617M<\/td>\n0.246M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n-1.116M<\/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 within an ascending wedge after breaking resistance level at 1.4160. However, negative divergence as portrays by MACD signal line would suggest the pair to undergo short-term technical correction to extend its losses towards its previous high.<\/p>\n

Resistance level: 1.4190, 1.4240<\/p>\n

Support level: 1.4160, 1.4120<\/p>\n


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

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EURUSD, H1: <\/strong>EURUSD was traded higher within an ascending channel prior breaking resistance level at 1.2350. However, death-cross as formed by MACD signal line would suggest the pair to extend its losses if breakout at the 50.0 Fibonacci level is successful.<\/p>\n

Resistance level: 1.2380, 1.2400<\/p>\n

Support level: 1.2350, 1.2330<\/p>\n


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

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USDJPY, H1: <\/strong>USDJPY was traded lower prior retracement from trend line of ascending channel. Death-cross as displayed by MACD signal line would indicate the pair to advance its losses towards the support level at 107.00.<\/p>\n

Resistance level: 107.50, 107.90<\/p>\n

Support level: 107.00, 106.70<\/p>\n


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

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower prior retracement from resistance level at 65.85. MACD histogram that portrays diminishing bullish momentum would suggest the commodity price to undergo short-term technical correction to trade lower towards its previous high.<\/p>\n

Resistance level: 65.85, 66.30<\/p>\n

Support level: 65.30, 64.70<\/p>\n

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

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GOLD_, H1: <\/strong>Gold price was traded lower prior retracement from resistance level at 1342.80. Diminishing bullish momentum as displayed by MACD histogram would suggest the safe-haven asset price to extend its losses if breakout at the trend line is successful.<\/p>\n

Resistance level: 1342.80, 1346.90<\/p>\n

Support level: 1337.70, 1334.90<\/p>\n","protected":false},"excerpt":{"rendered":"

11 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   Dollar-bull fails over a siege by other major currencies.   Dollar index fell 0.13% against a basket of major currencies to 89.25 as of writing despite the release of optimistic producer inflation data following pressures by a surge in other major currencies. Overnight, the Producer Price Index (PPI) […]<\/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\/26834"}],"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=26834"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/26834\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=26834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=26834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=26834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}