{"id":16561,"date":"2017-06-08T03:27:07","date_gmt":"2017-06-08T03:27:07","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=16561"},"modified":"2017-06-08T03:27:07","modified_gmt":"2017-06-08T03:27:07","slug":"080617-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080617-daily-analysis\/","title":{"rendered":"080617 Daily Analysis"},"content":{"rendered":"

8 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

Bumpy ride ahead as Super Thursday approaches.<\/strong><\/span><\/p>\n

US dollar was offered higher on Thursday as while market participants look ahead to a trio of events that will heighten market risk namely European Central Bank (ECB) policy review, UK general election and testimony by former FBI director James Comey to the Congress. The dollar index ticked up 0.03% to 96.67 against six major peers. Overnight, greenback pared some gains as euro recovered some losses following reports that ECB may remain their dovish outlook at today\u2019s policy announcement. Euro dipped 0.64% to $1.1204 after an alleged ECB draft suggests that they will cut its inflation forecast for the next three years to 1.5% due to slumping energy prices. The large sell-off in euro spurred a rise in greenback although its upside remained limited as investors adopt cautious approach before Comey testifies about Russia\u2019s alleged involvement in US election last year. In the other region, pound sterling was held steady at $1.2961 while UK election will be the main focal point for the currency and its political outlook.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price was up 0.57% to $45.98 following overnight\u2019s slump after EIA reported a surprise swell in US crude inventories for the first time in 10 weeks. Crude inventories rose 3.3 million barrels for week ended June 2nd<\/sup>, missing economist expectation for a draw of 3.5 million barrels. Otherwise, gold price depreciates by 0.38% to $1,285.22 due to stronger dollar while investors anticipates a flurry of risky events later in the day.<\/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

All Day \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 GBP \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 UK General Election<\/p>\n

20:30 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0ECB Press Conference<\/p>\n

23:15 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CAD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BoC Gov Poloz Speaks<\/p>\n

 <\/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
07:50<\/td>\nJPY \u2013 GDP (QoQ) (Q1)<\/td>\n0.5%<\/td>\n0.6%<\/td>\n0.3%<\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Trade Balance (Apr)<\/td>\n3.107B<\/td>\n1.950B<\/td>\n0.555B<\/td>\n<\/tr>\n
10:30<\/td>\nCNY \u2013 Trade Balance (USD) (May)<\/td>\n38.05B<\/td>\n46.32B<\/td>\n–<\/td>\n<\/tr>\n
15:15<\/td>\nCHF \u2013 CPI (MoM) (May)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 Deposit Facility Rate<\/td>\n-0.40%<\/td>\n-0.40%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 ECB Interest Rate Decision (June)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n248K<\/td>\n240K<\/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 an upward channel while currently testing at the top level. Stochastic Oscillator illustrates a retrace signal from overbought level suggests GBPUSD to advance further down, towards the lower level of the channel after breaking the support level of 1.2940.<\/p>\n

 <\/p>\n

Resistance level: 1.2965, 1.2990<\/p>\n

Support level: 1.2940, 1.2910<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remained traded within a sideways channel while recently rebounded from the support level of 1.1245. A closure above the 60-moving average line (green) would suggest EURUSD to advance further up, towards the upper level of the channel. Long-term trend direction could only be determined following a successful breakout from either side of the channel.<\/p>\n

 <\/p>\n

Resistance level: 1.1280, 1.1300<\/p>\n

Support level: 1.1245, 1.1205, 1.1185<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended its technical correction following prior rebound from the support level of 109.10. With regards to MACD histogram which illustrates substantial upward signal, it is expected to move further up towards the target of resistance level at 110.35.<\/p>\n

 <\/p>\n

Resistance level: 110.35, 111.10<\/p>\n

Support level: 109.60, 109.10<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price slumped sharply following prior breakthrough from the strong support level of 46.90. MACD histogram which illustrates downward signal and momentum suggests crude oil price to extend its losses after breaking the support level of 45.50.<\/p>\n

 <\/p>\n

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

Support level: 45.50, 44.70<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level of 1284.00. However, as both moving average line continues to narrow downwards and may form an imminent death cross formation, gold price is subject to downside bias towards the target of support level at 1284.00.<\/p>\n

 <\/p>\n

Resistance level: 1290.00, 1295.50<\/p>\n

Support level: 1284.00, 1277.40<\/p>\n","protected":false},"excerpt":{"rendered":"

8 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   Bumpy ride ahead as Super Thursday approaches. US dollar was offered higher on Thursday as while market participants look ahead to a trio of events that will heighten market risk namely European Central Bank (ECB) policy review, UK general election and testimony by former FBI director James Comey to […]<\/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\/16561"}],"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=16561"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/16561\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=16561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=16561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=16561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}