{"id":27743,"date":"2018-05-04T01:54:54","date_gmt":"2018-05-04T01:54:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=27743"},"modified":"2018-05-04T01:54:54","modified_gmt":"2018-05-04T01:54:54","slug":"040518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040518-daily-analysis\/","title":{"rendered":"040518 Daily Analysis"},"content":{"rendered":"

04 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

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Greenback on key support level ahead of NFP.<\/strong><\/p>\n

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Dollar was traded lower against its major peers by 0.16% to 92.20 as of writing following mostly pessimistic economic data in the region while market participants sold off their Greenback position ahead of the release of Nonfarm Payrolls (NFP) report. Overnight, initial jobless claims was reported by the U.S. Department of Labor to achieve an actual reading of 211K, much better than the economists\u2019 forecast for an increase of 225K. However, gains of the Greenback was pared after unit labor costs for the first quarter and ISM Non-Manufacturing PMI missed the expected reading of 3.1% and 60.0, last stood at 2.7% and 59.1 respectively. Although the Federal Reserve has expressed their confidence towards the labor market in U.S., market participants will shift their focus to NFP report tonight to garner further indication on the economic growth in the region. On the other hand, GBP\/USD pared gains by 0.15% to $1.3579 following the release of services PMI that missed the expected reading of 53.5, last stood at 52.8.<\/p>\n

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In the commodities market, crude oil price was settled higher by 0.74% to $68.39 per barrel following increased prospect of US sanctions on Iran after the latter stated that it would not renegotiate the Iran nuclear deal. Likewise, gold price rose 0.65% to $1312.70 a troy ounce attributed to renewed geopolitical uncertainty between the U.S. and Iran.<\/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 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 Event<\/strong><\/p>\n

00:00 (Sat)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Member Dudley Speaks<\/p>\n

03:00 (Sat)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Member Williams Speaks<\/p>\n

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\n<\/u><\/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
09:45<\/td>\nCNY \u2013 Caixin Services PMI (Apr)<\/td>\n52.3<\/td>\n52.4<\/td>\n52.9<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Services PMI (Apr)<\/td>\n54.1<\/td>\n54.1<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 Markit Composite PMI (Apr)<\/td>\n55.2<\/td>\n55.2<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 Services PMI (Apr)<\/td>\n55.0<\/td>\n55.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Retail Sales (MoM) (Mar)<\/td>\n0.1%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Apr)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Apr)<\/td>\n103K<\/td>\n185K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unemployment Rate (Apr)<\/td>\n4.1%<\/td>\n4.0%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 Ivey PMI (Apr)<\/td>\n59.8<\/td>\n60.2<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n825<\/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 higher prior rebound from support level at 1.3550. MACD that portrays a golden-cross would suggest the pair to undergo short-term technical correction to trade higher towards the resistance level at 1.3610.<\/p>\n

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

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


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

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher prior rebound from support level at 1.1940. MACD that portrays a golden-cross would suggest the pair to extend its gains if candlestick successfully closes above the trend line of descending channel.<\/p>\n

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

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


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

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

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USDJPY, H4: <\/strong>USDJPY was traded lower prior breaking support level at 109.20 and the pair is currently retesting its previous low. MACD that portrays ongoing downward momentum would suggest the pair to extend its losses if candlestick closes below the 50.0 Fibonacci level.<\/p>\n

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Resistance level: 109.20, 109.40<\/p>\n

Support level: 108.50, 108.00<\/p>\n

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


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

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

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CrudeOIL, H1: <\/strong>Crude oil price was traded lower prior retracement from descending trend line. MACD that shows downward signal would indicate the commodity price to extend its losses if breakout at support level 68.30 is successful.<\/p>\n

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Resistance level: 68.70, 69.20<\/p>\n

Support level: 68.30, 68.00<\/p>\n

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


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

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

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GOLD_, H4: <\/strong>Gold price was traded lower following its failure to break resistance level at 1315.70. MACD that shows ongoing bullish momentum would suggest the safe-haven asset price to extend its gains to retest the said resistance level.<\/p>\n

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

Support level: 1307.40, 1303.60<\/p>\n","protected":false},"excerpt":{"rendered":"

04 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 on key support level ahead of NFP.   Dollar was traded lower against its major peers by 0.16% to 92.20 as of writing following mostly pessimistic economic data in the region while market participants sold off their Greenback position ahead of the release of Nonfarm Payrolls (NFP) report. […]<\/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\/27743"}],"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=27743"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/27743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=27743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=27743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=27743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}