{"id":33780,"date":"2018-10-01T06:58:41","date_gmt":"2018-10-01T06:58:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=33780"},"modified":"2018-10-02T00:27:57","modified_gmt":"2018-10-02T00:27:57","slug":"011018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/011018-afternoon-session-analysis\/","title":{"rendered":"011018 Afternoon Session Analysis"},"content":{"rendered":"

1 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

US-Canada reaches NAFTA agreement.<\/strong><\/span><\/p>\n

US dollar slipped against the Canadian dollar on Monday after United States and Canada reached an agreement over a framework deal that would update the North American Free Trade Agreement (NAFTA) this morning. Pair of USD\/CAD plunged 0.53% to 1.2841 during European trading sessions. According to sources with direct knowledge of the talks, both countries have reportedly reached consensus which involved offering more dairy access to US farmers as well as Canada agreeing to an arrangement that would cap automobile exports into United States. The agreement has sent bullish bets on the Canadian dollar after the currency being sold largely due to both countries prior inability to reached a common ground. On the other hand, the dollar index defends its position, up 0.07% to 94.78 while investors continue to monitor upcoming economic data from the United States for further signals.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price recovered its losses by 0.08% to $73.55 per barrel, ahead of US sanction against Iran, the third largest producer in OPEC which could dent global crude supplies. On the other hand, gold price extended losses by 0.29% to $1,188.61 a troy ounce following bullish rebound 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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 HKD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Hong Kong \u2013 National Day<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 China \u2013 National Day<\/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

21:00\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 FOMC Member Bostic Speaks<\/p>\n

00:15\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 FOMC Member Rosengren Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Sep)<\/td>\n53.7<\/td>\n53.7<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (Sep)<\/td>\n52.8<\/td>\n52.5<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Sep)<\/td>\n58.5<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Sep)<\/td>\n61.3<\/td>\n60.3<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound and closure above 94.65. MACD which continues to illustrate bullish signal suggests the index to extend its gains, towards the target of 95.00.<\/p>\n

 <\/p>\n

Resistance level: 95.00, 95.50<\/p>\n

Support level: 94.65, 94.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout from the upward trendline. MACD which continues to illustrate bearish signal suggests the pair to extend its bearish momentum, towards the target at 1.2985.<\/p>\n

 <\/p>\n

Resistance level: 1.3055, 1.3100<\/p>\n

Support level: 1.2895, 1.2910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following breakout from the support level near 1.1675. MACD which illustrate persistent bearish signal suggests the pair to extend its losses, towards the target at 1.1550.<\/p>\n

 <\/p>\n

Resistance level: 1.1605, 1.1675<\/p>\n

Support level: 1.1550, 1.1495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended gains following prior breakout from the resistance of 113.70. MACD which has formed a golden cross signal suggests the pair to extend its gains after breaking the threshold of 114.00.<\/p>\n

 <\/p>\n

Resistance level: 114.00, 114.35<\/p>\n

Support level: 113.70, 113.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retrace from the downward trendline. MACD which begins to form a death cross signal suggests the pair to extend its towards the direction of 0.7200.<\/p>\n

 <\/p>\n

Resistance level: 0.7230, 0.7240<\/p>\n

Support level: 0.7200, 0.7175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retrace from the 60-MA line (green). MACD which begins to form a death cross signal suggests the pair to extend its towards the support level near 0.6600.<\/p>\n

 <\/p>\n

Resistance level: 0.6620, 0.6635<\/p>\n

Support level: 0.6600, 0.6575<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD plunged sharply after breaking the strong support near 1.2900. MACD which illustrate persistent bearish signal suggests the pair to extend its losses after breaking the support near 1.2820.<\/p>\n

 <\/p>\n

Resistance level: 1.2900, 1.2955<\/p>\n

Support level: 1.2820, 1.2750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF extended gains following prior rebound near the support of 0.9760. MACD histogram which illustrate bullish momentum suggests the pair to advance further upwards after closing above 0.9810.<\/p>\n

 <\/p>\n

Resistance level: 0.9810, 0.9850<\/p>\n

Support level: 0.9760, 0.9710<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the upward trendline. MACD which illustrate the formation of golden cross signal suggests the commodity price to extend its gains after breaking 73.55.<\/p>\n

 <\/p>\n

Resistance level: 73.55, 75.00<\/p>\n

Support level: 71.35, 69.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retrace from the trendline. MACD histogram which begins to form a death cross signal suggests the commodity price to be traded lower in short-term, towards the direction of 1184.00.<\/p>\n

 <\/p>\n

Resistance level: 1192.00, 1202.00<\/p>\n

Support level: 1184.00, 1177.00<\/p>\n

 <\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>October 1 \u2013 5 \u00a0<\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, October 1<\/strong><\/td>\n <\/p>\n

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

JPY \u2013 <\/strong>Tankan Large Non-Manufacturers Index (Q3)<\/p>\n

EUR \u2013 <\/strong>German Manufacturing PMI (Sep)<\/p>\n

GBP \u2013 <\/strong>Manufacturing PMI (Sep)<\/p>\n

USD \u2013 <\/strong>ISM Manufacturing PMI (Sep)<\/p>\n

 <\/p>\n

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

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, October 2<\/strong><\/td>\n <\/p>\n

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

AUD \u2013<\/strong> RBA Interest Rate Decision (Oct)
\nGBP \u2013 <\/strong>Construction PMI (Sep)<\/p>\n

 <\/p>\n

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

AUD \u2013<\/strong> RBA Rate Statement<\/p>\n

 <\/td>\n<\/tr>\n

Wednesday, October 3<\/strong><\/td>\n <\/p>\n

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

GBP \u2013 <\/strong>Services PMI (Sep)<\/p>\n

USD \u2013 <\/strong>ADP Nonfarm Employment Change (Sep)<\/p>\n

USD \u2013 <\/strong>ISM Non-Manufacturing Employment (Sep)<\/p>\n

USD \u2013 <\/strong>ISM Non-Manufacturing PMI (Sep)<\/p>\n

CrudeOIL \u2013 <\/strong>Crude Oil Inventories<\/p>\n

 <\/p>\n

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

USD<\/strong> \u2013 Fed Chair Powell Speaks<\/p>\n

 <\/td>\n<\/tr>\n

Thursday, <\/strong>October 4<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

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

USD \u2013 <\/strong>Initial Jobless Claims<\/p>\n

USD \u2013 <\/strong>Factory Orders (MoM) (Aug)<\/p>\n

CAD \u2013 <\/strong>Ivey PMI (Sep)<\/p>\n

 <\/p>\n

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

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

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

Friday, October 5<\/strong><\/p>\n

\u00a0<\/strong><\/td>\n

 <\/p>\n

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

AUD \u2013 <\/strong>Retail Sales (MoM) (Aug)<\/p>\n

USD \u2013 <\/strong>Average Hourly Earnings (MoM) (Sep)<\/p>\n

USD \u2013 <\/strong>Nonfarm Payrolls (Sep)<\/p>\n

USD<\/strong> \u2013 Unemployment Rate (Sep)<\/p>\n

CAD \u2013 <\/strong>Employment Change (Sep)<\/p>\n

 <\/p>\n

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

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

1 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   US-Canada reaches NAFTA agreement. US dollar slipped against the Canadian dollar on Monday after United States and Canada reached an agreement over a framework deal that would update the North American Free Trade Agreement (NAFTA) this morning. Pair of USD\/CAD plunged 0.53% to 1.2841 during European trading sessions. […]<\/p>\n","protected":false},"author":25,"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\/33780"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=33780"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/33780\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=33780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=33780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=33780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}