{"id":80947,"date":"2019-10-01T00:14:21","date_gmt":"2019-10-01T00:14:21","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=80947"},"modified":"2019-10-01T00:14:21","modified_gmt":"2019-10-01T00:14:21","slug":"011019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/011019-morning-session-analysis\/","title":{"rendered":"011019 Morning Session Analysis"},"content":{"rendered":"

1 October 2019\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

Euro plummets as data disappoints.<\/strong><\/span><\/p>\n

Euro extended losses to its lowest level since May 2017 following bearish economic data which were released on yesterday. According to Federal Statistics Office German, its CPI for the month of September came in at 0.0%, missing economist forecast for a rise of 0.1%. At the same time, the harmonized EU measure for inflation fell to a lower rate at only 0.9%, signalling further downside ahead as the single economic zone plunged further into recession. These bearish economic data open up more room for loose monetary policy setting from the European Central Bank after the announced their decision to cut interest rate deeper into the negative territory. However, euro managed to cap its losses after German Unemployment Change came in better than expected with -10,000 versus forecast for a rise of 5,000. On the other hand, US dollar continues to extend its bullish trend following optimistic developments with regards to US-China trade war. According to Bloomberg, US Treasury denied claims that the US is considering to restrict US investment in Chinese companies. The news dialled down tension in between both countries which were scheduled to reboot high-level trade talks next week in Washington. As of writing, pair of EUR\/USD unchanged at 1.0898 while the dollar index was quoted up 0.28% to 98.98.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.11% to $54.28 per barrel. On yesterday, oil price plunged sharply after Saudi Arabia assured the market that its crude output remains constant at high levels, thus dialling down speculation for a shortage due to recent attacks to its oil facilities. On the other hand, gold price ticked down 0.02% to $1,472.82 a troy ounce due to stronger greenback.<\/p>\n

\u00a0<\/u><\/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 \u00a0Hong 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 \u00a0China \u2013 National Day<\/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

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBA Rate Statement<\/p>\n

00:45 (2nd<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ECB President Draghi Speaks<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
12:30<\/td>\nAUD \u2013 RBA Interest Rate Decision (Oct)<\/td>\n1.00%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Sep)<\/td>\n43.5<\/td>\n41.1<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (Sep)<\/td>\n47.4<\/td>\n47.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Sep)<\/td>\n1.0%<\/td>\n1.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Jul)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Sep)<\/td>\n49.1<\/td>\n50.4<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Sep)<\/td>\n47.4<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(2nd<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n1.400M<\/td>\n–<\/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 while currently testing at the resistance of 99.00. MACD which illustrate bullish signal suggests the index to extend its gains after closing above 99.00.<\/p>\n

 <\/p>\n

Resistance level: 99.00, 99.20<\/p>\n

Support level: 98.65, 98.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support of 1.2260. MACD which illustrate diminished upward momentum suggests the pair to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2325, 1.2400<\/p>\n

Support level: 1.2260, 1.2170<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the 20-MA line (red). MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 1.0870.<\/p>\n

 <\/p>\n

Resistance level: 1.0930, 1.1010<\/p>\n

Support level: 1.0870, 1.0800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance of 108.10. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level:108.10, 108.45<\/p>\n

Support level: 107.60, 107.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing at the support of 0.6745. MACD which illustrate diminished upward momentum suggests the pair to advance further down after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6800, 0.6830<\/p>\n

Support level: 0.6745, 0.6705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing at the support of 0.6250. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6290, 0.6320<\/p>\n

Support level: 0.6250, 0.6220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the lower levels. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3255, 1.3280<\/p>\n

Support level: 1.3220, 1.3190<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior closure above 0.9970. MACD which illustrate bullish signal suggests the pair to advance further upwards in mid-term, towards the direction of 1.0010.<\/p>\n

 <\/p>\n

Resistance level: 1.0010, 1.0055<\/p>\n

Support level: 0.9970, 0.9925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 54.45, 55.55<\/p>\n

Support level: 53.00, 51.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1483.50, 1494.50<\/p>\n

Support level: 1471.50, 1446.00<\/p>\n","protected":false},"excerpt":{"rendered":"

1 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Euro plummets as data disappoints. Euro extended losses to its lowest level since May 2017 following bearish economic data which were released on yesterday. According to Federal Statistics Office German, its CPI for the month of September came in at 0.0%, missing economist forecast for a rise of […]<\/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\/80947"}],"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=80947"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/80947\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=80947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=80947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=80947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}