{"id":14374,"date":"2017-04-27T03:19:31","date_gmt":"2017-04-27T03:19:31","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=14374"},"modified":"2017-04-27T07:56:43","modified_gmt":"2017-04-27T07:56:43","slug":"270417-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270417-daily-analysis\/","title":{"rendered":"270417 Daily Analysis"},"content":{"rendered":"

27 April 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Trump whistles tax reform, financial market isn\u2019t impressed.<\/strong><\/span><\/p>\n

US dollar clings on to some gains on Thursday after US President Donald Trump\u2019s tax plans offered no new surprises, halting its rally while market participants shift their focus towards European Central Bank\u2019s upcoming monetary policy decision. The dollar index was little changed at 98.93, slightly lower from overnight session\u2019s high of 99.33. Trump\u2019s tax reform would cut income tax rate paid by public corporations from 35% to 15% and reduce the top tax rate assessed on pass-through businesses which includes small partnership and sole proprietorships from 39.6% to 15%. \u201cTrump\u2019s tax plan did not go beyond what the media has been covering for the week. Although the plan appears ambitious, its foundations are shaky from revenue perspective,\u201d said senior forex strategist, Junichi Ishikawa. In the European market, the single common currency \u2013 euro gained 0.1% to $1.0911, not far from 5\u00bd months high of $1.0951. The central bank is due to announce its policy decision later in the day and market participants eyes whether recent French election results would have any influence on ECB\u2019s stance and approach.<\/p>\n

 <\/p>\n

As for commodities, crude oil price was down 0.52% to $49.36 due to a swell in US gasoline inventories due to lagging demand. Otherwise, gold price was down 0.26% to $1,266.05 as global uncertainty subsides while coupled with a strong 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 Event<\/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

Tentative \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0JPY \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoJ Monetary Policy Statement<\/p>\n

Tentative \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0JPY \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoJ Outlook Report (YoY)<\/p>\n

14:30\u00a0\u00a0\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 \u00a0BoJ Press Conference<\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ECB Press Conference<\/p>\n

 <\/p>\n


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

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

Today\u2019s Highlight Economy Data<\/u><\/p>\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
Tentative<\/td>\nJPY \u2013 BoJ Interest Rate Decision<\/td>\n-0.10%<\/td>\n-0.10%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 Deposit Facility Rate<\/td>\n-0.40%<\/td>\n-0.40%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 ECB Interest Rate Decision (Apr)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20:00<\/td>\nEUR \u2013 German CPI (MoM) (Apr)<\/td>\n0.2%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Mar)<\/td>\n0.5%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n244K<\/td>\n245K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Mar)<\/td>\n5.5%<\/td>\n-1.0%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remains traded within a sideways channel while currently testing at the top of the channel. A breakout from this level would signal a change in trend direction to move further upwards. Otherwise, a retrace would suggest GBPUSD to be traded lower within the channel thereafter.<\/p>\n

 <\/p>\n

Resistance level: 1.2855, 1.2905<\/p>\n

Support level: 1.2810, 1.2770, 1.2700<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within an upward channel after rebounding from the bottom level of the channel. A closure above the resistance level of 1.0920 would suggest EURUSD to advance further up, towards the upper level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 1.0920, 1.0965<\/p>\n

Support level: 1.0875, 1.0830<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY were traded lower following prior retrace from the 20-moving average line (red). As the MACD indicator remains hovered outside of upward momentum, USDJPY is expected to be traded lower in the short-term as technical correction. Long-term trend direction suggests USDJPY to extend its uptrend.<\/p>\n

 <\/p>\n

Resistance level: 111.40, 111.75<\/p>\n

Support level: 110.95, 110.45<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remains traded within a trading range of 49.00 and 50.20. Recent rebound from the bottom level suggests crude oil price to be traded higher in the short-term, towards the target of resistance level at 49.65. Long-term trend direction could only be determined after a successful breakout from either side of the channel.<\/p>\n

 <\/p>\n

Resistance level: 49.65, 50.20, 50.90<\/p>\n

Support level: 49.00, 48.30<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within a downward channel while recently retraced from the 20-moving average line (red). Due to the downward expansion of both MA lines after the formation of death cross, gold price is expected to advance further down, towards the support level of 1260.85.<\/p>\n

 <\/p>\n

Resistance level: 1267.40, 1274.00<\/p>\n

Support level: 1260.85, 1251.45<\/p>\n","protected":false},"excerpt":{"rendered":"

27 April 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Trump whistles tax reform, financial market isn\u2019t impressed. US dollar clings on to some gains on Thursday after US President Donald Trump\u2019s tax plans offered no new surprises, halting its rally while market participants shift their focus towards European Central Bank\u2019s upcoming monetary policy decision. The dollar index was […]<\/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\/14374"}],"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=14374"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/14374\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=14374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=14374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=14374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}