{"id":86277,"date":"2019-11-05T01:09:10","date_gmt":"2019-11-05T01:09:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=86277"},"modified":"2019-11-05T01:09:10","modified_gmt":"2019-11-05T01:09:10","slug":"051119-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051119-morning-session-analysis\/","title":{"rendered":"051119 Morning Session Analysis"},"content":{"rendered":"

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

Greenback surged on hopes for trade talks.<\/strong><\/span><\/p>\n

US dollar surged amid hope upon the resolution of trade war which further increased the risk appetite, which pushed U.S. stocks and Treasury yields higher. According to Reuters, U.S Commerce Secretary\u2019s Wilbur Ross claimed that licenses for U.S. companies to sell components to China\u2019s Huawei Technologies Co \u201cwill be forthcoming very shortly\u201d. Such positive sentiment has reduced the trade tension between U.S. and China, insinuating higher demand for the US dollar. On the other hand, the pair of EUR\/USD slump despite positive data from the Europe region was released. According to Markit, Germany Manufacturing Purchasing Managers Index (PMI) notched up from 41.7 to 42.1 for the month of October. In addition, Italy Manufacturing Purchasing Managers Index (PMI) and French Manufacturing PMI for the month of October was both fared better than expectation. Although the pair of EUR\/USD surge in the early trading hours of European session following the upbeat macroeconomic data from the European area was released, Euro received bearish pressure later on a surge in the U.S Dollar. As of writing, Dollar index appreciated by 0.33% to 97.30 while EUR\/USD was traded flat at 1.1125.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price surged yesterday amid to positive prospect for trade talk. Diminishing trade war risks has placed higher optimism among investors in which it may possibly reduce the scenario for global economic slowdown. As of writing, crude oil price depreciated by 0.19% to $56.43 per barrel. On the other hand, gold price slumped 0.01% to $1509.21 per troy ounces amid stronger U.S Dollar.<\/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

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\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\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 RBA Rate Statement<\/p>\n

 <\/p>\n

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
11:30<\/td>\nAUD – RBA Interest rate Decision<\/td>\n0.75%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Composite PMI (Oct)<\/td>\n49.3<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Service PMI (Oct)<\/td>\n49.5<\/td>\n49.7<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Oct)<\/td>\n52.6<\/td>\n53.4<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – JOLTs Job Openings (Sep)<\/td>\n7.051M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior rebound from the support level at 96.90. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains toward resistance level at 97.55.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.15<\/p>\n

Support level: 96.90, 96.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded within a range while currently near support level at 1.2855. MACD which illustrated increasing bearish momentum suggest the pair to be traded lower after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2980, 1.3065<\/p>\n

Support level: 1.2855, 1.2780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1165. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1075.<\/p>\n

 <\/p>\n

Resistance level: 1.1165, 1.1215<\/p>\n

Support level: 1.1075, 1.1025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 108.40. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 109.00<\/p>\n

 <\/p>\n

Resistance level: 109.00, 109.60<\/p>\n

Support level: 108.40, 107.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6905. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6860.<\/p>\n

 <\/p>\n

Resistance level: 0.6905, 0.6960<\/p>\n

Support level: 0.6860, 0.6810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6435. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6355.<\/p>\n

 <\/p>\n

Resistance level: 0.6435, 0.6495<\/p>\n

Support level: 0.6355, 0.6285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3145. MACD. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3210, 1.3260<\/p>\n

Support level: 1.3145, 1.3085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9850. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9895.<\/p>\n

 <\/p>\n

Resistance level: 0.9895, 0.9945<\/p>\n

Support level: 0.9850, 0.9805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 54.05. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 57.15.<\/p>\n

 <\/p>\n

Resistance level: 57.15, 59.35<\/p>\n

Support level: 54.05, 52.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1509.60. MACD which illustrated increasing bearish momentum suggest its price to extend its losses toward support level at 1502.60.<\/p>\n

 <\/p>\n

Resistance level: 1509.60, 1516.95<\/p>\n

Support level: 1502.60, 1495.70<\/p>\n","protected":false},"excerpt":{"rendered":"

5 November 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\u00a0\u00a0\u00a0 Morning Session Analysis Greenback surged on hopes for trade talks. US dollar surged amid hope upon the resolution of trade war which further increased the risk appetite, which pushed U.S. stocks and Treasury yields higher. According to Reuters, U.S Commerce Secretary\u2019s Wilbur Ross claimed that licenses for U.S. companies to sell components […]<\/p>\n","protected":false},"author":61,"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\/86277"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=86277"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/86277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=86277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=86277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=86277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}