15 September 2017 Daily Analysis
Greenback on support, North Korea Fired Geopolitical Uncertainty.
The U.S. dollar index was traded at 92.03 against the other major currencies after an ease of 0.01%. A sharp increase in sterling to one-year highs amid rising expectations toward Bank of England’s raising interest rates has offset the duo positive economic reports in U.S. which shown better-than-expected results, namely the inflation and initial claims jobless data. According to the Labor Department, there was a rose of 0.4% in Consumer Price Index (CPI) in the month of August, reflecting the greatest monthly gain in seven months. On the other hand, initial jobless claims was reported to be reduced by 14,000 to 284,000 against the forecasts of a 2,000 increase. Besides that, USD/JPY down 0.20% to 110.05 after North Korea fired an intermediate range ballistic missile over Japan’s northern Hokkaido Island and east of Pacific Ocean.
For the commodity market, crude oil price dropped 0.52% to $49.63 per barrel after an intermediate range ballistic missile test conducted by North Korea in response to current U.S. and its allies for pushing UN economic sanctions. Otherwise, gold prices traded steadily with a slight losses of 0.20% to $1330.50 amid dollar weakness. However, gains were limited due to positive market sentiment toward Federal Reserve to increase interest rate for the third time this year, based on an upbeat consumer price data that hit a 7-month high in August.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economy Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – Core Retail Sales (MoM) (Aug) | 0.5% | 0.5% | – |
| 20:30 | USD – NY Empire State Manufacturing Index (Sep) | 25.20 | 19.00 | – |
| 20:30 | USD – Retail Sales (MoM) (Aug) | 0.6% | 0.1% | – |
| 21:15 | USD – Industrial Production (MoM) (Aug) | 0.2% | 0.2% | – |
| 22:00 | USD – Michigan Consumer Sentiment (Sep) | 96.8 | 95.2 | – |
| 01:00 | CrudeOIL – US Baker Hughes Oil Rig Count | 756 | – | – |
GBPUSD
GBPUSD, Daily: GBPUSD was traded higher prior breaking above resistance level at 1.3085. The pair is currently testing the resistance level at 1.3410. Upward slope of MACD signal line suggests GBPUSD to trade higher if the breakout of the said resistance level is successful.
Resistance level: 1.3410, 1.3735
Support level: 1.3085, 1.2685
EURUSD
EURUSD, H4: EURUSD was traded higher prior its rebound from 200-MA line. Positive divergence as shown by MACD histogram suggests EURUSD to continue its momentum to move higher toward the resistance level at 1.1985.
Resistance level: 1.1985, 1.2070
Support level: 1.1820, 1.1715
USDJPY
USDJPY, H1: USDJPY was traded higher prior its rebound from support level at 110.05. Formation of pin bar suggests the pair to move higher as a technical correction towards the resistance level at 110.90.
Resistance level: 110.90, 111.75
Support level: 110.05, 109.00
CrudeOIL
Crude OIL, H4: Price of crude oil was traded lower prior its retracement from resistance level at 50.20. Formation of engulfing candlestick and downward slope of MACD histogram suggest the crude oil to extend its losses toward support level at 48.70.
Resistance level: 50.20, 52.00
Support level: 48.70, 47.20
GOLD
GOLD, H4: Gold price was traded higher after breaking above resistance level at 1328.20. Formation of positive divergence as shown by MACD histogram suggests gold price to extend its gain toward the next resistance level at 1339.55.
Resistance level: 1339.55, 1357.40
Support level: 1328.20, 1321.35