{"id":14675,"date":"2017-05-04T03:14:29","date_gmt":"2017-05-04T03:14:29","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=14675"},"modified":"2017-05-04T03:14:29","modified_gmt":"2017-05-04T03:14:29","slug":"040517-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040517-daily-analysis\/","title":{"rendered":"040517 Daily Analysis"},"content":{"rendered":"

4 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

Analogous Fed spur optimism for rate hike.<\/strong><\/span><\/p>\n

US dollar remained resilient during Asian session on Thursday following Federal Reserve\u2019s interest rate decision while market participants look forward for tomorrow\u2019s highly anticipated Nonfarm Payrolls report. The dollar index was up 0.14% to 99.15 as of writing. Overnight, US Federal Reserve kept its benchmark rate unchanged at 0.75-1.00%, well within market expectations. The Feds struck a similar tone in its statement, reiterating that interest rates will be increased gradually throughout the year. They noted that while economic activity slowed down in the first quarter and household spending rose modestly, they postulate that the labor market has continued to strengthen as job gains were solid in the recent months. Subsequent to the statement, US dollar rose sharply while gold price slipped to sessions low. Referring to the Fed rate monitor tool, nearly 70% of traders is expecting an interest rate hike in June, as compared to only 60% prior to the interest rate decision.<\/p>\n

 <\/p>\n

Looking into the commodities market, crude oil price loses its ground on Thursday after skidding 0.27% to $47.69 as crude oil inventories fell lesser than expectations with 930,000 barrels. Similarly, gold price was down 0.42% to $1,241.18 following dollar\u2019s resilient after the release of Federal Reserve interest rate decision.<\/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 JPY \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Greenery Day<\/p>\n

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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

00:30 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB President Draghi Speaks<\/p>\n

04:25 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CAD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoC Gov Poloz Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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
09:30<\/td>\nAUD \u2013 Trade Balance (Mar)<\/td>\n3.574B<\/td>\n3.400B<\/td>\n3.107B<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Apr)<\/td>\n55.0<\/td>\n54.5<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n257K<\/td>\n247K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Trade Balance (Mar)<\/td>\n-43.60B<\/td>\n44.50B<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Trade Balance (Mar)<\/td>\n-0.97B<\/td>\n-0.80B<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Mar)<\/td>\n1.0%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/strong><\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound form the support level of 1.2860. Recent rebound suggests GBPUSD to be traded higher in short-term as technical correction. Otherwise, long-term trend direction still suggests GBPUSD to extend its downward momentum as both MA lines continue to expand downward after the formation of death cross.<\/p>\n

 <\/p>\n

Resistance level: 1.2885, 1.2915<\/p>\n

Support level: 1.2860, 1.2835<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD remains traded within a sideways channel following prior retracement from the upper level of the channel. A closure below the support level of 1.0880 would suggest EURUSD to be traded lower in short-term towards the bottom level of the sideways channel.<\/p>\n

 <\/p>\n

Resistance level: 1.0950, 1.1000<\/p>\n

Support level: 1.0880, 1.0850, 1.0800<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended its upward momentum following prior closure above previous resistance level at 112.20. It is expected to move further upwards after breaking the resistance level of 112.90.<\/p>\n

 <\/p>\n

Resistance level: 112.90, 113.55<\/p>\n

Support level: 112.20, 111.40<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was thinly traded near the support level of 47.40 following prior downward momentum. As the signal line from MACD begins to narrow upwards, crude oil price may be traded higher in short-term as technical correction. Long-term trend direction still suggests crude oil price to move further downwards.<\/p>\n

 <\/p>\n

Resistance level: 48.80, 50.25<\/p>\n

Support level: 47.40, 46.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price has recently broken out from bottom level of downward channel, signaling a change in trend direction to move further downwards. As the MACD histogram continues to illustrate downward signal and momentum, a successful closure below the support level of 1235.60 would suggest gold price to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 1250.00, 1261.35<\/p>\n

Support level: 1235.60, 1222.70<\/p>\n","protected":false},"excerpt":{"rendered":"

4 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   Analogous Fed spur optimism for rate hike. US dollar remained resilient during Asian session on Thursday following Federal Reserve\u2019s interest rate decision while market participants look forward for tomorrow\u2019s highly anticipated Nonfarm Payrolls report. The dollar index was up 0.14% to 99.15 as of writing. Overnight, US Federal Reserve […]<\/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\/14675"}],"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=14675"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/14675\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=14675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=14675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=14675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}