{"id":16180,"date":"2017-06-01T03:25:35","date_gmt":"2017-06-01T03:25:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=16180"},"modified":"2017-06-01T03:25:35","modified_gmt":"2017-06-01T03:25:35","slug":"010617-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010617-daily-analysis\/","title":{"rendered":"010617 Daily Analysis"},"content":{"rendered":"

1 June 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 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Sterling stumbles, greenback tumbles.<\/strong><\/span><\/p>\n

US dollar dwindles near recent six-months low while pound sterling slipped as latest opinion poll showed trimmed support for Prime Minister Theresa May\u2019s ruling party before next week\u2019s national election. The greenback slipped to sessions low on yesterday following softer US pending home sales data which illustrates lagging outlook for housing market. Such reading has spook off some dollar-bulls which are looking forward for next interest rate hike which could be initiated as soon as next FOMC meeting on June 13th<\/sup>. The dollar index was last seen at around 96.90, not far from six-months low of 96.65. Likewise, pound sterling remained under pressure from yesterday\u2019s YouGov which reported that May\u2019s Conservative Party is leading with only 3 percentage point difference as compared to the opposition Labor Party. Such reading gave pessimistic undertone to the market whereby she might fall short of a majority support during next week\u2019s election. Pairing of GBP\/USD eased 0.08% to $1.2880.<\/p>\n

 <\/p>\n

Peering into the commodities, crude oil price rose 0.97% to $48.79 after the US industry report showed a larger draw in crude stockpiles. According to American Petroleum Institute, crude inventories for week ended May 26th<\/sup> was down 8.7 million barrels, larger than prior expected decrease of only 2.5 million barrels. Otherwise, gold price was down 0.36% to $1,267.44 as greenback mends its prior session losses during Asian trading hours.<\/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 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\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

\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
09:30<\/td>\nAUD \u2013 Private New Capital Expenditure (QoQ) (Q1)<\/td>\n-2.1%<\/td>\n0.8%<\/td>\n0.3%<\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Retail Sales (MoM) (Apr)<\/td>\n-0.1%<\/td>\n0.3%<\/td>\n1.0%<\/td>\n<\/tr>\n
09:45<\/td>\nCNY \u2013 Caixin Manufacturing PMI (May)<\/td>\n50.3<\/td>\n50.1<\/td>\n49.6<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (May)<\/td>\n59.4<\/td>\n59.4<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (May)<\/td>\n57.3<\/td>\n56.5<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (May)<\/td>\n177K<\/td>\n185K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n234K<\/td>\n239K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (May)<\/td>\n54.8<\/td>\n54.5<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCrude Oil \u2013 Crude Oil Inventories<\/td>\n-4.432M<\/td>\n-2.517M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD were traded lower following prior retrace near the 20-moving average line at 1.2920. With regards to MACD indicator which continues to hover outside of upward momentum, GBPUSD is expected to continue its oscillation in between the range of 1.2920 and 1.2795 in short-term. Long-term trend direction still suggests an upward trend ahead after a closure above the resistance level of 1.2920.<\/p>\n

 <\/p>\n

Resistance level: 1.2920, 1.3045<\/p>\n

Support level: 1.2795, 1.2640<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD has recently broke out from the top level of downward channel, signaling a change in trend direction to move further upwards. As both MA lines continue to expand upwards, a successful closure above the resistance level of 1.1255 would suggest an extension of uptrend for EURUSD.<\/p>\n

 <\/p>\n

Resistance level: 1.1255, 1.1280<\/p>\n

Support level: 1.1225, 1.1200<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remained traded within a downward channel following prior retrace from the top level. Recent closure below the 60-moving average line (green) suggest USDJPY to move further downwards after successfully closing below the support level of 110.85.<\/p>\n

 <\/p>\n

Resistance level: 111.10, 111.40<\/p>\n

Support level: 110.85, 110.65<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level of 47.85. As the downward signal from MACD histogram begins to diminish, crude oil price may extend its current upward momentum after breaking the resistance level of 48.85.<\/p>\n

 <\/p>\n

Resistance level: 48.85, 50.05<\/p>\n

Support level: 47.85, 46.90<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the 60-moving average line (green). Recent closure above the 20-moving average line (red) suggests gold price to move further upwards towards the target of resistance level at 1271.00. A breakout from the top level of upward channel would signal a change in trend direction to move further up thereafter.<\/p>\n

 <\/p>\n

Resistance level: 1271.00, 1278.20<\/p>\n

Support level: 1261.40, 1253.80, 1246.00<\/p>\n","protected":false},"excerpt":{"rendered":"

1 June 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 Daily Analysis   Sterling stumbles, greenback tumbles. US dollar dwindles near recent six-months low while pound sterling slipped as latest opinion poll showed trimmed support for Prime Minister Theresa May\u2019s ruling party before next week\u2019s national election. The greenback slipped to sessions low on yesterday following softer US pending home sales data […]<\/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\/16180"}],"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=16180"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/16180\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=16180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=16180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=16180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}