{"id":14604,"date":"2017-05-03T03:10:39","date_gmt":"2017-05-03T03:10:39","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=14604"},"modified":"2017-05-03T03:10:39","modified_gmt":"2017-05-03T03:10:39","slug":"030517-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030517-daily-analysis\/","title":{"rendered":"030517 Daily Analysis"},"content":{"rendered":"

3 May 2017\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 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

All eyes on Feds: will they signal rate hike?<\/strong><\/span><\/p>\n

Greenback seesawed during early Asian trading on Wednesday while financial market awaits the Federal Reserve\u2019s policy statement for further hints regarding the outlook of US interest rate hike. The Feds are widely expected to keep their interest rate unchanged at the end of its two-day policy meeting but investors will be scavenging for further clues whether the central bank would downplay prior softcore economic performance, leaving the doors open for a rate hike in June. The dollar index eased 0.05% and last quoted at 98.72. \u201cPrior concern about geopolitical risk such as North Korea placed some pressure on the greenback. However, recent focus was shifted towards the performance of US economic fundamentals and the upcoming jobs data will be closely watched by investors,\u201d said Satoshi Okagawa, senior global market analyst. In the other region, euro was held steady at $1.0933 as investors look ahead for the second round of French presidential election between Emmanuel Macron and Marine Le Pen this weekend.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 1.05% to $48.16 following a decline in US inventories last week by 4.2 million barrels. Similarly, gold price was up 0.10% to $1,256.34 as investors\u2019 appetite for riskier assets eased slightly ahead of Fed\u2019s interest rate decision later tonight.<\/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 HKD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Hong Kong \u2013 The Birthday of the Buddha<\/p>\n

All Day \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 KRW \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 South Korea \u2013 The Birthday of the Buddha<\/p>\n

All Day \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 JPY \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Japan \u2013 Constitution 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

02:00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 USD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Statement<\/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
06:45<\/td>\nNZD- Employment Change (QoQ) (Q1)<\/td>\n0.8%<\/td>\n0.8%<\/td>\n1.2%<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Change (Apr)<\/td>\n-30K<\/td>\n-12K<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Construction PMI (Apr)<\/td>\n52.2<\/td>\n52.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 GDP (QoQ) (Q1)<\/td>\n0.4%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (Apr)<\/td>\n263K<\/td>\n175K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Apr)<\/td>\n55.2<\/td>\n55.8<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrude Oil \u2013 Crude Oil Inventories<\/td>\n-3.641M<\/td>\n-2.333M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nUSD \u2013 Fed Interest Rate Decision<\/td>\n1.00%<\/td>\n1.00%<\/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 was traded higher following recent rebound from the support level of 1.2860. Signal line from MACD histogram which begins to illustrate upward signal suggests GBPUSD to advance further up and retest near the resistance level of 1.2965.<\/p>\n

 <\/p>\n

Resistance level: 1.2965, 1.3085<\/p>\n

Support level: 1.2860, 1.2770<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within a narrowing triangle while currently testing at the top level. A successful breakout from this level would signal a change in trend direction to move further upwards. Otherwise, a retrace from would suggest EURUSD to be traded lower within the triangle in short-term thereafter.<\/p>\n

 <\/p>\n

Resistance level: 1.0935, 1.0950<\/p>\n

Support level: 1.0920, 1.0895<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY remains traded within a downward channel while recently closed above the 60-moving average line (green). A successful closure above the strong resistance level of 112.15 would suggest USDJPY to test near the top level of the channel thereafter.<\/p>\n

 <\/p>\n

Resistance level: 112.15, 113.40<\/p>\n

Support level: 110.60, 108.10<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>\u00a0Crude oil price was traded higher following prior rebound from the support level of 47.70. Indicator from MACD which begins to hover outside of downward momentum suggests crude oil price to be traded higher in short-term as technical correction. Otherwise, long-term trend direction still suggests crude oil price to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 48.15, 48.50<\/p>\n

Support level: 47.80, 47.40<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within a downward channel following prior rebound from the support level of 1251.45. Recent rebound suggests gold price to be traded higher in short-term as retracement period. Likewise, long-term trend direction suggests gold price to be traded with a downward channel trend.<\/p>\n

 <\/p>\n

Resistance level: 1260.85, 1267.40<\/p>\n

Support level: 1251.45, 1239.50<\/p>\n","protected":false},"excerpt":{"rendered":"

3 May 2017\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 Daily Analysis   All eyes on Feds: will they signal rate hike? Greenback seesawed during early Asian trading on Wednesday while financial market awaits the Federal Reserve\u2019s policy statement for further hints regarding the outlook of US interest rate hike. The Feds are widely expected to keep their interest rate unchanged at […]<\/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\/14604"}],"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=14604"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/14604\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=14604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=14604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=14604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}