{"id":37275,"date":"2018-11-05T07:18:22","date_gmt":"2018-11-05T07:18:22","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37275"},"modified":"2018-11-05T07:18:22","modified_gmt":"2018-11-05T07:18:22","slug":"051118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051118-afternoon-session-analysis\/","title":{"rendered":"051118 Afternoon Session Analysis"},"content":{"rendered":"

5 November 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar firmed despite upbeat data.<\/strong><\/span><\/p>\n

Greenback managed to hold its ground against a basket of major currencies after rebound from the one-week low following strong Nonfarm Payrolls, Unemployment Rate and Average Hourly Earnings been released last Friday. According to United States Department of Labor, Nonfarm Payrolls data came in at 250K, significantly higher than the economist forecast of 193K while Unemployment Rate and Average Hourly Earnings data successfully achieved the forecasted target respectively at 3.7% and 3.1%. The data showed that US job growth rebounded significantly in October and wages recorded their largest annual gains in 9.5 years. However, gains on the US dollar remains limited as investors remained their focus on trade related tensions between US and China. As of writing, the dollar index notched down 0.04% to 96.25. On the other hand, pair of GBP\/USD climbed 0.15% to 1.2985 during Asian trading session. The Sterling-bull were boosted by the news regarding 95 percent of Britain\u2019s withdrawal agreement was settled and negotiations were on going. However, there are some significant hurdles still remain in the Brexit negotiation process, UK\u2019s Telegraph newspaper reported.<\/p>\n

 <\/p>\n

In the commodities market, crude oil notched down 0.25% to $62.65 per barrel amid US sanctions against Iran\u2019s fuel exports was softened by waivers which allow major buyers to still import Iran crude oil at least temporarily. Next, gold plunged 0.07% to $1231.80 per troy ounce amid Dollar\u2019s demand rebound.<\/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 Market\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

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

21:10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoC Gov Poloz Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Services PMI (Oct)<\/td>\n53.9<\/td>\n53.3<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Non-Manufacturing Employment (Oct)<\/td>\n62.4<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Oct)<\/td>\n61.6<\/td>\n59.3<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index traded higher while currently testing near the resistance level at 96.30. MACD which illustrate diminishing bearish momentum suggest the index to extend its gain after successfully breakout the resistance level at 96.30.<\/p>\n

Resistance level: 96.30, 96.55<\/p>\n

Support level: 96.00, 95.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3015. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.2960.<\/p>\n

Resistance level: 1.3015, 1.3080<\/p>\n

Support level: 1.2960, 1.2875<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1375. However, MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.1375.<\/p>\n

Resistance level: 1.1410, 1.1445<\/p>\n

Support level: 1.1375, 1.1335<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level at 113.25. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the support level at 113.25.<\/p>\n

Resistance level: 113.25, 113.55<\/p>\n

Support level: 112.65, 112.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level at 0.7185. MACD which illustrate starting bearish momentum and formation of death cross suggest the pair to extend its losses after successfully breakout the support level at 0.7185.<\/p>\n

Resistance level: 0.7205, 0.7250<\/p>\n

Support level: 0.7185, 0.7140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level at 0.6635. MACD which illustrate starting bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breakout the support level at 0.6635.<\/p>\n

Resistance level: 0.6675, 0.6710<\/p>\n

Support level: 0.6635, 0.6610<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing near the resistance level at 1.3110. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the resistance level at 1.3110.<\/p>\n

Resistance level: 1.3110, 1.3130<\/p>\n

Support level: 1.3080, 1.3050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level at 1.0045. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the resistance level at 1.0045.<\/p>\n

Resistance level: 1.0045, 1.0090<\/p>\n

Support level: 1.0025, 1.0005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil was traded higher following prior rebound from the support level at 62.55. MACD which illustrate bullish momentum and the formation of golden cross suggest the commodity to extend its gain toward the resistance level at 63.25.<\/p>\n

Resistance level: 63.25, 64.20<\/p>\n

Support level: 62.55, 61.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded in sideway channel following prior breakout from the previous resistance level at 1230.25. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its losses after successfully breakout the support level at 1230.25.<\/p>\n

Resistance level: 1237.40, 1247.50<\/p>\n

Support level: 1230.25, 1221.45<\/p>\n

 <\/p>\n

 <\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>November 5 \u2013 9<\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, November 5<\/strong><\/td>\n <\/p>\n

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

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

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

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

 <\/p>\n

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

CAD \u2013 <\/strong>BoC Gov Poloz Speaks<\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, November 6<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

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

AUD \u2013 <\/strong>RBA Interest Rate Decision (Nov)<\/p>\n

EUR \u2013 <\/strong>German Factory Orders (MoM) (Sep)<\/p>\n

EUR \u2013 <\/strong>German Services PMI (Oct)<\/p>\n

EUR \u2013 <\/strong>Markit Composite PMI (Oct)<\/p>\n

EUR \u2013 <\/strong>Services PMI (Oct)<\/p>\n

USD \u2013 <\/strong>JOLTs Job Openings (Sep)<\/p>\n

 <\/p>\n

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

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

 <\/td>\n<\/tr>\n

Wednesday, November 7<\/strong><\/td>\n <\/p>\n

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

CrudeOIL \u2013 <\/strong>API Weekly Crude Oil Stock<\/p>\n

NZD \u2013 <\/strong>Employment Change (QoQ) (Q3)<\/p>\n

EUR \u2013 <\/strong>German Industrial Production (MoM) (Sep)<\/p>\n

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

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

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

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

N\/A<\/p>\n

 <\/td>\n<\/tr>\n

Thursday, <\/strong>November 8<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

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

NZD \u2013 <\/strong>RBNZ Interest Rate Decision<\/p>\n

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

CAD \u2013 <\/strong>New Housing Price Index (MoM) (Sep)<\/p>\n

 <\/p>\n

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

NZD \u2013 <\/strong>Rate Statement<\/p>\n

NZD \u2013 <\/strong>RBNZ Press Conference<\/p>\n

EUR \u2013 <\/strong>ECB Economic Bulletin<\/p>\n

EUR \u2013 <\/strong>EU Economic Forecasts<\/p>\n

 <\/td>\n<\/tr>\n

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

Friday, November 9<\/strong><\/p>\n

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

 <\/p>\n

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

USD \u2013 <\/strong>Fed Interest Rate Decision<\/p>\n

CNY \u2013 <\/strong>CPI (YoY) (Oct)<\/p>\n

CNY \u2013 <\/strong>PPI (YoY) (Oct)<\/p>\n

GBP \u2013 <\/strong>GDP (QoQ) (Q3)<\/p>\n

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

USD \u2013 <\/strong>Michigan Consumer Sentiment (Nov)<\/p>\n

CrudeOIL \u2013 <\/strong>US Baker Hughes Oil Rig Count<\/p>\n

 <\/p>\n

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

USD<\/strong> \u2013 FOMC Statement<\/p>\n

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

5 November 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar firmed despite upbeat data. Greenback managed to hold its ground against a basket of major currencies after rebound from the one-week low following strong Nonfarm Payrolls, Unemployment Rate and Average Hourly Earnings been released last Friday. According to United States Department of Labor, Nonfarm Payrolls data came […]<\/p>\n","protected":false},"author":54,"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\/37275"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=37275"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37275\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}