{"id":15252,"date":"2017-05-16T03:33:57","date_gmt":"2017-05-16T03:33:57","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=15252"},"modified":"2017-05-16T03:33:57","modified_gmt":"2017-05-16T03:33:57","slug":"160517-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160517-daily-analysis\/","title":{"rendered":"160517 Daily Analysis"},"content":{"rendered":"

16 May 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

Widened downside for greenback as Tru<\/strong><\/span>mp-Russia intensifies.<\/strong><\/span><\/p>\n

Greenback extended its back leg in Asia on Tuesday as the market churns the latest controversy that surrounds Trump administration after an explosive story in Washington Post suggested that Trump previously provided Russian diplomats wit top secret details regarding Middle Eastern intelligence sources. The dollar index which measured its strength against six major peers eased 0.05% to 98.67. Likewise, it has received further downward pressure following overnight\u2019s release of weaker-than-expected manufacturing data for the region of New York. According to the Federal Reserve of New York, Empire State manufacturing index fell to contractionary region with -1 for May, down from 5.2 in April. The softer reading dented investor\u2019s expectation for a rate hike with the Fed Rate Monitor Tool showing a 72.4% chance for the month of June, down from prior reading of nearly 80%. Against other major currencies, the dollar depreciates against its Japanese counterpart with USD\/JPY down 0.10% to 113.67 while GBP\/USD rose 0.17% to $1.2917.<\/p>\n

 <\/p>\n

As for the commodities market, crude oil price held gains after appreciating 0.53% to $49.11 following Saudi Arabia and Russia pledge to extend the production cut deal till March of next year if other key producers follow through. On the other hand, gold price extended its gains by 0.33% to $1,232.68 following dollar\u2019s weakness due to weak US manufacturing data from yesterday.<\/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

09:30 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 AUD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBA Meeting Minutes<\/p>\n

Tentative \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Crude Oil \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 IEA Monthly Report<\/p>\n

 <\/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
16:30<\/td>\nGBP \u2013 CPI (YoY) (Apr)<\/td>\n2.3%<\/td>\n2.6%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (May)<\/td>\n19.5<\/td>\n22.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 GDP (QoQ) (Q1)<\/td>\n0.5%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Apr)<\/td>\n1.260M<\/td>\n1.270M<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Housing Starts (Apr)<\/td>\n1.215M<\/td>\n1.260M<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nUSD \u2013 Industrial Production (MoM) (Apr)<\/td>\n0.5%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrude Oil \u2013 API Weekly Crude Oil Stock<\/td>\n-5.780M<\/td>\n–<\/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 recently retraced from the 60-moving average line (green). A closure below the 20-moving average line (red) would suggest GBPUSD to be traded lower in short-term, towards the target of support level at 1.2840. Long-term trend direction could only be determined after a successful breakout from either side of the channel.<\/p>\n

 <\/p>\n

Resistance level: 1.2910, 1.2985, 1.3060<\/p>\n

Support level: 1.2845, 1.2770<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD extended its gains following prior closure above both moving average line after a rebound from 1.0860. MACD histogram which continues to illustrate upward signal suggests EURUSD to advance further up, towards the resistance level of 1.1020.<\/p>\n

 <\/p>\n

Resistance level: 1.1020, 1.1075<\/p>\n

Support level: 1.0930, 1.0860<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY continues to trade within a downward channel following prior retracement from the top level of the channel. A closure below the support level of 113.35 would suggest USDJPY to advance further down, towards the lower level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 113.60, 113.90<\/p>\n

Support level: 113.35, 113.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level of 48.70. However, as the MACD indicator continues to drift outside of upward momentum, crude oil price may be traded lower in short-term as technical correction. Otherwise, long-term trend direction still suggests crude oil price to extend its uptrend.<\/p>\n

 <\/p>\n

Resistance level: 49.20, 49.65<\/p>\n

Support level: 48.70, 48.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound an closure above the 60-moving average line (green). A successful closure above the resistance level of 1233.30 would suggest gold price to extend its upward momentum thereafter.<\/p>\n

 <\/p>\n

Resistance level: 1233.30, 1245.15<\/p>\n

Support level: 1215.15, 1202.00<\/p>\n","protected":false},"excerpt":{"rendered":"

16 May 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   Widened downside for greenback as Trump-Russia intensifies. Greenback extended its back leg in Asia on Tuesday as the market churns the latest controversy that surrounds Trump administration after an explosive story in Washington Post suggested that Trump previously provided Russian diplomats wit top secret details regarding Middle Eastern intelligence […]<\/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\/15252"}],"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=15252"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/15252\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=15252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=15252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=15252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}