{"id":66111,"date":"2019-07-02T00:56:28","date_gmt":"2019-07-02T00:56:28","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=66111"},"modified":"2019-07-02T00:56:28","modified_gmt":"2019-07-02T00:56:28","slug":"010719-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010719-morning-session-analysis\/","title":{"rendered":"010719 Morning Session Analysis"},"content":{"rendered":"

1 July 2019\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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

 <\/p>\n

US-China resumes trade talks.<\/strong><\/span><\/p>\n

US dollar was traded higher during Asian trading session following diminishing trade war risks in between US and China. In a highly anticipated meeting in between US President Donald Trump and China President Xi Jinping, both countries have agreed to resume trade talks after Washington pledge not to impose more tariffs upon Chinese goods while negotiation continues. In return, China has agreed to purchase more US farm goods. However, Trump stated that any current levies or tariffs upon China goods will remain in place but both leaders agreed not to intensify the current conflict. Trump also softened his stance towards Huawei, stating that \u201cthere is no great national security problem with it\u201d. As such, Huawei will now resume any business dealing with US suppliers in terms of electronic equipment. For the time being, investors would continue to monitor trade talks in between both countries as they gauge the current risks levels in the market. As of writing, the dollar index notched up 0.18% to 96.45 during early Asian trading session.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price skyrocketed 2.09% to $59.24 per barrel. Oil futures received higher demand after Russia and Saudi Arabia agreed to extend its current oil cut agreement till end of the year. On the other hand, gold price slumped 0.95% to $1,396.15 a troy ounce due to diminishing risks in the market.<\/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 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 Canada Day<\/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\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 SAR Region Establishment 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

15:00\u00a0\u00a0\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\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 PBOC Gov Yi Speaks<\/p>\n

Tentative\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 CrudeOIL\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 OPEC Meeting<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Jun)<\/td>\n45.4<\/td>\n45.4<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Change (Jun)<\/td>\n60K<\/td>\n-3K<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (Jun)<\/td>\n49.4<\/td>\n49.2<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Jun)<\/td>\n52.1<\/td>\n51.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Jun)<\/td>\n53.7<\/td>\n52.5<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior closure above 95.80. MACD which has formed a bullish signal suggests the index to extend its gains, towards the direction of 96.35.<\/p>\n

 <\/p>\n

Resistance level: 96.35, 97.05<\/p>\n

Support level: 95.80, 95.50<\/p>\n

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\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from its higher levels. MACD which begins to form a bearish signal suggests the pair to be traded lower in short-term within the sideways channel.<\/p>\n

 <\/p>\n

Resistance level: 1.2745, 1.2790<\/p>\n

Support level: 1.2670, 1.2630<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior closure below 1.1380. MACD which has formed a bearish signal suggests the pair to be traded lower, towards the direction of 1.1345.<\/p>\n

 <\/p>\n

Resistance level: 1.1380, 1.1415<\/p>\n

Support level: 1.1345, 1.1275<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior closure above 108.25. MACD which has formed a bullish signal suggests the pair to extend its gains, towards the direction of 108.70.<\/p>\n

 <\/p>\n

Resistance level: 108.70, 109.20<\/p>\n

Support level: 108.25, 107.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance of 0.7040. MACD which begins to form a bearish signal suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7040, 0.7110<\/p>\n

Support level: 0.7005, 0.6960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior close above 0.6710. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 0.6765.<\/p>\n

 <\/p>\n

Resistance level: 0.6765, 0.6840<\/p>\n

Support level: 0.6710, 0.6655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level near 1.3050. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3120, 1.3220<\/p>\n

Support level: 1.3050, 1.2970<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded higher while currently testing at the top level of narrowing triangle. Although MACD illustrate bullish signal, a breakout from the top level is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 0.9810, 0.9835<\/p>\n

Support level: 0.9770, 0.9730<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing at the resistance of 59.60. MACD which illustrate diminished downward momentum suggests the pair to extend its gains after closing above 59.60.<\/p>\n

 <\/p>\n

Resistance level: 59.60, 61.10<\/p>\n

Support level: 58.85, 57.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing at the support level of 1390.00. MACD which illustrate bearish signal suggests its price to extend its losses after closing below 1390.00.<\/p>\n

 <\/p>\n

Resistance level: 1415.00, 1448.00<\/p>\n

Support level: 1390.00, 1374.10<\/p>\n","protected":false},"excerpt":{"rendered":"

1 July 2019\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 Morning Session Analysis     US-China resumes trade talks. US dollar was traded higher during Asian trading session following diminishing trade war risks in between US and China. In a highly anticipated meeting in between US President Donald Trump and China President Xi Jinping, both countries have agreed to resume trade talks […]<\/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\/66111"}],"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=66111"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/66111\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=66111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=66111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=66111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}