{"id":27878,"date":"2018-05-08T02:04:10","date_gmt":"2018-05-08T02:04:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=27878"},"modified":"2018-05-08T02:04:10","modified_gmt":"2018-05-08T02:04:10","slug":"080518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080518-daily-analysis\/","title":{"rendered":"080518 Daily Analysis"},"content":{"rendered":"

08 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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Dollar remains supported over Euro weakness and Bostic\u2019s speech.<\/strong><\/p>\n

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Dollar index was traded higher against a trade-weighted basket of major currencies by 0.16% to 92.50 as of writing following weakness in the Euro and hawkish statement by the Fed President Raphael Bostic. Overnight, Bostic reiterated his support for two further rate hikes this year after stating his comfort with \u201csome overshoot\u201d of inflation in U.S, thus leading to an increase in market optimism towards the Federal Reserve to increase its interest rates at a more aggressive pace this year. On the contrary, Greenback received extended bullish momentum following a softer German factory orders that gave an actual reading of -0.9% versus the expected reading for 0.5% increase. The weaker-than-expected data has trimmed traders\u2019 bets on the European Central Bank to unwind their monetary policy stimulus within a short timeframe, leading to EUR\/USD to fall 0.29% to $1.1930.<\/p>\n

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In the commodities market, crude oil price fell 0.9% to $70.00 per barrel while investors sell off their position on the commodity amid Trump\u2019s announcement on his decision whether sanctions on Iran will be reimposed. Likewise, gold price fell 0.05% to $1313.00 a troy ounce after it is being weighed on by increased market prospect towards further rate hike by Fed this year.<\/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

15:15\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\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Speaks<\/p>\n

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\u00a0<\/u><\/p>\n


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\u00a0<\/u><\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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 Retail Sales (MoM) (Mar)<\/td>\n0.6%<\/td>\n0.2%<\/td>\n0.2%<\/td>\n<\/tr>\n
Tentative<\/td>\nCNY \u2013 Trade Balance (USD) (Apr)<\/td>\n-4.98B<\/td>\n27.50B<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Industrial Production (MoM) (Mar)<\/td>\n-1.6%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Trade Balance (Mar)<\/td>\n19.2B<\/td>\n19.9B<\/td>\n–<\/td>\n<\/tr>\n
15:30<\/td>\nGBP \u2013 Halifax House Price Index (YoY) (Apr)<\/td>\n2.7%<\/td>\n3.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Mar)<\/td>\n6.052M<\/td>\n6.020M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n3.427M<\/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 lower after breaking support level at 1.3600. However, MACD that shows increasing bullish momentum would suggest the pair to trade higher towards the resistance level at 1.3600.<\/p>\n

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Resistance level: 1.3600, 1.3780<\/p>\n

Support level: 1.3440, 1.3270<\/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 after breaking support level at 1.1940. However, positive divergence as displayed by MACD signal line would suggest the pair to extend its gains if breakout at the previous low is successful.<\/p>\n

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Resistance level: 1.1940, 1.2010<\/p>\n

Support level: 1.1870, 1.1770<\/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 after breaking support level at 109.20. MACD signal line that shows a death-cross would suggest the pair to extend its losses if candlestick successfully closes below the support level at 109.00<\/p>\n

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Resistance level: 109.00, 109.20<\/p>\n

Support level: 108.60, 108.00<\/p>\n

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\u00a0<\/strong><\/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 70.90. MACD that displays a death-cross would suggest the commodity price to undergo short-term losses before continuing its bullish bias.<\/p>\n

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Resistance level: 70.90, 73.70<\/p>\n

Supprort level: 69.80, 68.70<\/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_, H1: <\/strong>Gold price was traded lower prior retracement from resistance level at 1316.40. A lack of significant indication from both MACD and candlestick pattern would suggest to wait for confirmation breakout to grasp the next movement of the safe-haven asset price in short-term.<\/p>\n

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Resistance level: 1316.40, 1323.20<\/p>\n

Support level: 1310.50, 1304.60<\/p>\n","protected":false},"excerpt":{"rendered":"

08 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 Dollar remains supported over Euro weakness and Bostic\u2019s speech. Dollar index was traded higher against a trade-weighted basket of major currencies by 0.16% to 92.50 as of writing following weakness in the Euro and hawkish statement by the Fed President Raphael Bostic. Overnight, Bostic reiterated his support for two further […]<\/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\/27878"}],"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=27878"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/27878\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=27878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=27878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=27878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}