{"id":56508,"date":"2019-04-30T05:47:37","date_gmt":"2019-04-30T05:47:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=56508"},"modified":"2019-04-30T05:47:37","modified_gmt":"2019-04-30T05:47:37","slug":"300419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300419-afternoon-session-analysis\/","title":{"rendered":"300419 Afternoon Session Analysis"},"content":{"rendered":"

30 April 2019\u00a0\u00a0\u00a0\u00a0\u00a0\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

Aussie dragged by China missed data, dollar remains pressured.<\/strong><\/p>\n

Dollar index continue to fell against its basket of six major currency pairs as market remains pressured by weak consumption figures. Overall, market is currently digesting disappointing data from US after personal consumption expenditures (PCE) (which is the Fed\u2019s preferred inflation measurement) fell to 1.6%, missing economist expectation for a rise of 1.7%. As the Federal Open Market Committee meeting is expected to be held this week, investors\u2019 attention will be centered towards the meeting and Fed Chairman Jerome Powell’s press conference where they expected to result in a decision to leave its key federal funds rate unchanged. Dollar index extend its losses by 0.05% to 97.50 as of writing. On the other hand, AUD\/USD suffered huge losses and fell 0.18% to 0.7043 at the time of writing following downbeat China PMI. According to Markit Economics, China factory activity have slumped to 50.2, weaker than market expectation with the expected reading of 51.0. The below-forecasted data have illustrate that China\u2019s economy have barely expanded in April, hinting economic slowdown, therefore dragging the Aussie which is China\u2019s largest trading partner.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price have dip 0.25% to $63.37 per barrel at the time of writing as market flipped between gains following rampant uncertainty in the commodity. Following recent announcement on Iran waiver by Washington, investors are trying to assess how OPEC and its allies will respond when U.S. waivers that allowed buyers to continue importing Iranian oil expire on May 2. At the same time, a stutter in China\u2019s factory activity also weighed on the demand of crude oil. On the other hand, gold price rose 0.29% to $1283.50 a troy ounce as of writing following dollar weakness which dragged by poor consumption data.<\/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 JPY\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\u00a0\u00a0\u00a0 Holiday<\/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

23:00\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\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


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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\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
14:00<\/td>\nEUR \u2013 GfK German Consumer Climate (May)<\/td>\n10.4<\/td>\n10.3<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Change (Apr)<\/td>\n-7K<\/td>\n-6K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 GDP (YoY)<\/td>\n1.1%<\/td>\n1.1%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Unemployment Rate (Mar)<\/td>\n7.8%<\/td>\n7.8%<\/td>\n–<\/td>\n<\/tr>\n
20:00<\/td>\nEUR \u2013 German CPI (MoM) (Apr)<\/td>\n0.4%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Feb)<\/td>\n0.3%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Apr)<\/td>\n124.1<\/td>\n126.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Mar)<\/td>\n-1.0%<\/td>\n1.1%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(1st<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n6.900M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below previous support level at 97.60. MACD which illustrate persistent bearish momentum suggest index to extend its losses towards the support level 97.00.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 98.25<\/p>\n

Support level: 97.00, 96.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.2945. MACD which display bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2945, 1.3015<\/p>\n

Support level: 1.2845, 1.2770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level 1.1185. MACD which illustrate bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1185, 1.1240<\/p>\n

Support level: 1.1145, 1.1100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remained traded in a sideway channel following prior retracement from the top-level of the channel at 111.75. MACD which illustrate bearish bias signal suggest the pair to extend its retracement towards the bottom-level of the channel at 111.35.<\/p>\n

 <\/p>\n

Resistance level: 111.75, 112.20<\/p>\n

Support level: 111.35, 110.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7050. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 0.7000.<\/p>\n

 <\/p>\n

Resistance level: 0.7050, 0.7090<\/p>\n

Support level: 0.7000, 0.6930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing near the resistance level 0.6670. However, MACD which illustrate bearish bias signal suggest the pair to undergo short-term technical correction and retrace towards the support level 0.6630.<\/p>\n

 <\/p>\n

Resistance level: 0.6670, 0.6720<\/p>\n

Support level: 0.6630, 0.6580<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.3435. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.3485.<\/p>\n

 <\/p>\n

Resistance level: 1.3485, 1.3530<\/p>\n

Support level: 1.3435, 1.3380<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded flat near the support level 1.0190. MACD which illustrate bearish momentum suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.0265, 1.0310
\nSupport level: 1.0190, 1.0100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above previous resistance level at 63.15. MACD which illustrate bullish bias signal and the starting formation of golden cross suggest the commodity to extend its gains towards the resistance level 64.65.<\/p>\n

 <\/p>\n

Resistance level: 64.65, 66.00<\/p>\n

Support level: 63.15, 61.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound form the support level 1277.30. MACD which illustrate bullish bias signal suggest gold to extend its rebound towards the resistance level 1285.80.<\/p>\n

 <\/p>\n

Resistance level: 1285.80, 1295.65<\/p>\n

Support level: 1277.30, 1268.50<\/p>\n","protected":false},"excerpt":{"rendered":"

30 April 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie dragged by China missed data, dollar remains pressured. Dollar index continue to fell against its basket of six major currency pairs as market remains pressured by weak consumption figures. Overall, market is currently digesting disappointing data from US after personal consumption expenditures (PCE) (which is the Fed\u2019s […]<\/p>\n","protected":false},"author":20,"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\/56508"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=56508"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/56508\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=56508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=56508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=56508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}