{"id":16106,"date":"2017-05-31T03:07:14","date_gmt":"2017-05-31T03:07:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=16106"},"modified":"2017-05-31T03:07:14","modified_gmt":"2017-05-31T03:07:14","slug":"310517-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/310517-daily-analysis\/","title":{"rendered":"310517 Daily Analysis"},"content":{"rendered":"

31 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

Sterling unenthusiastic with May\u2019s performance.<\/strong><\/span><\/p>\n

Great British Pound received tremendous selling pressure on Wednesday after the release of latest opinion poll which shows that the conservatives are losing their ground. Pair of GBP\/USD was down 0.30% to $1.2820 this morning. A report from YouGov which utilizes constituency-by-constituency modelling illustrates that British Prime Minister Theresa May\u2019s Conservatives Party may risk falling short of winning a majority number of seats in parliament during next month\u2019s national election on June 8th<\/sup>. The narrowing in support for May\u2019s party and its opponent has further deterred overall confidence among investors where a downfall of May in the election could spark higher political and economic uncertainty prior to their exit from the EU. In the other region, greenback rebounds from overnight\u2019s slump as market players digests US consumer spending data which has recorded its biggest increase in four months during April, suggesting a firm domestic demand that would allow the Federal Reserve to raise their interest rates. The dollar index was up 0.15% and last quoted at 97.27 against six major peers.<\/p>\n

 <\/p>\n

As for commodities, crude oil price edges lower after shedding 0.40% to $49.46 while investors look forward for US weekly crude inventory estimates due tomorrow morning. Likewise, gold price depreciates by 0.10% to $1,260.85 despite a rebound in US dollar while ongoing geopolitical concern in Europe limits its downside.<\/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\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

07:00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 \u00a0 \u00a0NZD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBNZ Gov Wheeler Speaks<\/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\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
09:00<\/td>\nCNY \u2013 Manufacturing PMI (May)<\/td>\n51.2<\/td>\n51.0<\/td>\n51.2<\/td>\n<\/tr>\n
09:00<\/td>\nCNY \u2013 Non-Manufacturing PMI (May)<\/td>\n54.0<\/td>\n–<\/td>\n54.5<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Change (May)<\/td>\n-15K<\/td>\n-15K<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Net Lending to Individuals<\/td>\n4.7B<\/td>\n4.5B<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (May)<\/td>\n1.9%<\/td>\n1.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Mar)<\/td>\n0.0%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:45<\/td>\nUSD \u2013 Chicago PMI (May)<\/td>\n58.3<\/td>\n57.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Apr)<\/td>\n-0.8%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrude Oil \u2013 API Weekly Crude Oil Stock<\/td>\n-1.500M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD remained traded within the range of 1.2790 and 1.2885 while recently rebounded from the bottom level of the range. A successful closure above the resistance level of 1.2820 would suggest GBPUSD to move further upwards in short-term. Otherwise, long-term trend direction could only be determined after a successful breakout from either side of the range.<\/p>\n

 <\/p>\n

Resistance level: 1.2820, 1.2850, 1.2885, 1.2910<\/p>\n

Support level: 1.2790, 1.2755<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remained traded within a downward channel while recently rebounded from the support level of 1.1170. Stochastic Oscillator which begins to illustrate rebound signal from the oversold region suggests EURUSD to be traded higher towards the target of resistance level at 1.1190.<\/p>\n

 <\/p>\n

Resistance level: 1.1190, 1.1205<\/p>\n

Support level: 1.1170, 1.1145<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY continued to hover near the support level of 110.60, suggesting a strong support down ahead. A rebound from this level would suggest an extension of technical retracement and to be traded higher in short-term. Otherwise, as MACD histogram continues to illustrate substantial downward signal, a closure below the level of 110.60 would suggest USDJPY to extend is downward momentum.<\/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>Crude oil price remained traded within a narrowing triangle while recently retraced from the top level of the triangle. It is suggested to be traded lower in short-term, towards the lower level of the triangle. Long-term trend direction could only be determined following a successful breakout from either side of the triangle.<\/p>\n

 <\/p>\n

Resistance level: 49.60, 50.00<\/p>\n

Support level: 49.00, 48.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remained within an upward channel following prior retracement near the resistance level of 1271.00. A closure below the 60-moving average line (green) would suggest gold price to advance further down, towards the target of support level at 1253.80.<\/p>\n

 <\/p>\n

Resistance level: 1263.00, 1271.00<\/p>\n

Support level: 1253.80, 1246.00<\/p>\n","protected":false},"excerpt":{"rendered":"

31 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   Sterling unenthusiastic with May\u2019s performance. Great British Pound received tremendous selling pressure on Wednesday after the release of latest opinion poll which shows that the conservatives are losing their ground. Pair of GBP\/USD was down 0.30% to $1.2820 this morning. A report from YouGov which utilizes constituency-by-constituency modelling illustrates […]<\/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\/16106"}],"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=16106"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/16106\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=16106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=16106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=16106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}