{"id":16924,"date":"2017-06-14T03:30:09","date_gmt":"2017-06-14T03:30:09","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=16924"},"modified":"2017-06-14T03:30:09","modified_gmt":"2017-06-14T03:30:09","slug":"140617-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140617-daily-analysis\/","title":{"rendered":"140617 Daily Analysis"},"content":{"rendered":"

14 June 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

Greenback erodes prior to FOMC meeting.<\/strong><\/span><\/p>\n

US dollar extend its losses during early Wednesday trading ahead of US Federal Reserve latest policy review \u2013 a highly anticipated event for most investors. The dollar index was down 0.05% to 96.88 as of writing. Overnight, US dollar slumped to two-months low against the Canadian dollar following a surge in demand for Loonie after senior central bank official tips off hawkish signals. According to the Deputy Governor from Bank of Canada, Carolyn Wilkins postulate that policymakers would need to re-evaluate their interest rates as the country\u2019s economy progresses after adjusting to the fallout of lower crude prices. Similar move was seen on the sterling which has regained some grounds following yesterday\u2019s better-than-expected inflation data. According to the Office for National Statistics, annual rate of inflation accelerated to 2.9% in May, its highest level since June 2013 and well above Bank of England\u2019s target of 2%. A surge in demand for sterling and Loonie has dented the dollar\u2019s strength ahead of Federal Reserve\u2019s policy meeting where majority of traders are expecting an interest rate hike. Traders will be closely monitoring the press conference by Fed Chair Janet Yellen for further clues on future monetary policy stance.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price depreciates by 1.10% to $45.95 a barrel after industrial data showed a surprise build in US crude stocks by 2.8 million barrels last week. Otherwise, gold price was traded at break-even around $1,268.80 as the precious metal struggled to capitalize on a weaker dollar due to higher expectation for an interest rate hike.<\/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

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

02:00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Economic Projections<\/p>\n

02:00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Statement<\/p>\n

02:30 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Press Conference<\/p>\n

 <\/p>\n


\n<\/u><\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
10:00<\/td>\nCNY \u2013 Industrial Production (YoY) (May)<\/td>\n6.5%<\/td>\n6.3%<\/td>\n6.5%<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Average Earnings Index +Bonus (Apr)<\/td>\n2.4%<\/td>\n2.4%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Claimant Count Change (May)<\/td>\n19.4K<\/td>\n20.3K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core CPI (MoM) (May)<\/td>\n0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Retail Sales (MoM) (May)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Retail Sales (MoM) (May)<\/td>\n0.4%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrude Oil \u2013 Crude Oil Inventories<\/td>\n3.295M<\/td>\n-2.739M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nUSD \u2013 Fed Interest Rate Decision<\/td>\n1.00%<\/td>\n1.25%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the strong support level at 1.2635. MACD indicator which continues to hover outside of downward momentum suggests GBPUSD to extend its retracement period and move further up towards the target of resistance level at 1.2790.<\/p>\n

 <\/p>\n

Resistance level: 1.2790, 1.2840<\/p>\n

Support level: 1.2730, 1.2635<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the upward trend line. Recent closure above the 20-moving average line (red) suggests EURUSD to advance further up, and retest near the strong resistance level of 1.1225.<\/p>\n

 <\/p>\n

Resistance level: 1.1225, 1.1280<\/p>\n

Support level: 1.1160, 1.1100<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD has extended its losses following prior formation of death cross by both moving average line. However, as the MACD histogram illustrates a diminishing downward momentum, USDCAD may be traded higher in short-term as technical correction. Otherwise, long-term trend direction suggests it to move further down after breaking the support level of 1.3190.<\/p>\n

 <\/p>\n

Resistance level: 1.3260, 1.3330<\/p>\n

Support level: 1.3190, 1.3120<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remained traded within a narrowing triangle following prior retracement from the top level. Stochastic Oscillator which illustrates significant downward signal suggests USDJPY to move further down towards the lower level after successfully breaking the support level of 109.95.<\/p>\n

 <\/p>\n

Resistance level: 110.15, 110.40<\/p>\n

Support level: 109.95, 109.75<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remains traded within a downward channel following prior retracement from the top level. Stochastic Oscillator begins to form a downward signal suggests crude oil price to advance further down, towards the target of support level at 45.30.<\/p>\n

 <\/p>\n

Resistance level: 46.70, 48.40<\/p>\n

Support level: 45.30, 44.00<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior closure above the 23.6 Fibonacci level at 1267.60. Referring to MACD histogram which illustrate persistent upward signal and momentum, gold price may extend its technical correction and move further up towards the resistance level of 1273.00.<\/p>\n

 <\/p>\n

Resistance level: 1273.00, 1277.40<\/p>\n

Support level: 1267.60, 1263.00<\/p>\n","protected":false},"excerpt":{"rendered":"

14 June 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   Greenback erodes prior to FOMC meeting. US dollar extend its losses during early Wednesday trading ahead of US Federal Reserve latest policy review \u2013 a highly anticipated event for most investors. The dollar index was down 0.05% to 96.88 as of writing. Overnight, US dollar slumped to two-months low […]<\/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\/16924"}],"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=16924"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/16924\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=16924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=16924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=16924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}