{"id":27677,"date":"2018-05-03T02:26:03","date_gmt":"2018-05-03T02:26:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=27677"},"modified":"2018-05-03T02:26:03","modified_gmt":"2018-05-03T02:26:03","slug":"030518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030518-daily-analysis\/","title":{"rendered":"030518 Daily Analysis"},"content":{"rendered":"

03 May 2018\u00a0\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

 <\/p>\n

Greenback fails to extend its gains following careful FOMC statement.<\/strong><\/p>\n

 <\/p>\n

Dollar index was traded higher against a basket of major currencies post-FOMC yet the bullish momentum was short-lived following a lack of hawkish tone by the Federal Reserve. The Greenback pared its gains by 0.19% to 92.34 during the Asian trading hours. Overnight, the Federal Reserve left its interest rates unchanged at 1.75% to 2% as widely anticipated by market participants. However, they also signaled that inflation was close to its 2% target over the medium term which has further cemented investors\u2019 expectation for further rate hike at its next meeting in June. All in all, the Greenback has failed to extend its bullish momentum following statements by the policymakers that a rise in inflation above the target should not necessarily lead to aggressive monetary policy tightening. On the contrary, GBP\/USD fell 0.05% to $1.3588 despite the release of optimistic UK construction data following dampening investors\u2019 expectation towards the Bank of England (BoE) to increase its interest rates later this month.<\/p>\n

\n

In the commodities market, crude oil price rose 1.01% to $67.81 per barrel despite rising U.S. crude inventories by 6.218 million barrels versus the forecast reading for an increase of 0.739 million barrels. The rise in the commodity price was due to market participants that expressed greater optimism towards the OPEC and Non-OPEC to extend their crude supply cut. Likewise, gold price rose 0.54% to $1309.66 a troy ounce following recent recession of the Greenback.<\/p>\n

 <\/p>\n

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 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

 <\/p>\n

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 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

 <\/p>\n


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

 <\/p>\n

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
09:30<\/td>\nAUD \u2013 Building Approvals (MoM) (Mar)<\/td>\n-6.2%<\/td>\n1.0%<\/td>\n2.6%<\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Trade Balance (Mar)<\/td>\n1.349B<\/td>\n0.650B<\/td>\n1.527B<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Apr)<\/td>\n51.7<\/td>\n53.3<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Apr)<\/td>\n1.3%<\/td>\n1.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n209K<\/td>\n216K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Trade Balance (Mar)<\/td>\n-57.60B<\/td>\n-55.60B<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unit Labor Costs (QoQ) (Q1)<\/td>\n2.5%<\/td>\n3.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing Employment (Apr)<\/td>\n56.6<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Apr)<\/td>\n58.8<\/td>\n58.1<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher prior rebound from support level at 1.3550. MACD that displays a golden-cross would suggest the pair to extend its gains towards the resistance level at 1.3610.<\/p>\n

\n

Resistance level: 1.3610, 1.3670<\/p>\n

Support level: 1.3550, 1.3490<\/p>\n


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

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher prior rebound from support level at 1.1940. MACD that displays a golden-cross would suggest the pair to extend its gains towards the resistance level at 1.2010.<\/p>\n

\n

Resistance level: 1.2010, 1.2050<\/p>\n

Support level: 1.1940, 1.1870<\/p>\n


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

 <\/p>\n

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

\"\"\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower prior retracement from resistance level at 109.90. MACD that shows a death-cross would suggest the pair to extend its losses towards the support level at 109.40.<\/p>\n

\n

Resistance level: 109.90, 110.20<\/p>\n

Support level: 109.40, 109.10<\/p>\n

 <\/p>\n

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


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

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher prior rebound from support level at 67.50. MACD that portrays increasing bullish momentum would suggest the commodity price to extend its gains towards the resistance level at 68.00.<\/p>\n

\n

Resistance level: 68.00, 68.40<\/p>\n

Support level: 67.50, 67.00 \u00a0<\/strong><\/p>\n

 <\/p>\n

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


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

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

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher prior breaking resistance level at 1307.40. MACD that portrays a golden-cross would suggest the safe-haven asset price to extend its gains towards the resistance level at 1315.70.<\/p>\n

\n

Resistance level: 1315.70, 1321.30<\/p>\n

Support level: 1307.40, 1303.60<\/p>\n

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

03 May 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Greenback fails to extend its gains following careful FOMC statement.   Dollar index was traded higher against a basket of major currencies post-FOMC yet the bullish momentum was short-lived following a lack of hawkish tone by the Federal Reserve. The Greenback pared its gains by 0.19% to 92.34 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\/27677"}],"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=27677"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/27677\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=27677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=27677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=27677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}