{"id":17032,"date":"2017-06-15T03:40:57","date_gmt":"2017-06-15T03:40:57","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=17032"},"modified":"2017-06-15T03:40:57","modified_gmt":"2017-06-15T03:40:57","slug":"150617-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150617-daily-analysis\/","title":{"rendered":"150617 Daily Analysis"},"content":{"rendered":"

15 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

Conflicting signals, investors muddled.<\/strong><\/span><\/p>\n

US dollar nurses some losses on Thursday as weak US inflation data left investors wondering if the Federal Reserve would follow up its rate hike stance later in the year. Overnight, the Federal Reserve increased its key interest rate by 25 basis point to a range of 1.00% – 1.25% while maintaining its view that a total of three rate hikes in 2017 would be appropriate. Although the rate hike was widely expected, investors are agitated by recent slowdown in economic activity which may derail expectation for a total of three rate hikes. The central bank remained obstinate that economic growth is progressing moderately while inflation is expected to rise above bank\u2019s 2% target in the medium term. However, the greenback received some bearish pressure as political turmoil in Washington continues to deepen, with Washington Post reporting that US President Donald Trump is being investigated by special counsel Robert Mueller for possible obstruction of justice. \u201cThere is a lot to digest, and even some apparently conflicting signals, such as the fact that inflation outlook was revised slightly lower by the Fed but maintaining its intention to raise rates again this year,\u201d said Mitsuo Imaizumi, chief forex strategist. The dollar index ticked down 0.05% and last quoted at 96.80. Against other major peers, EUR\/USD was up 0.07% to $1.1227 while pound sterling rose 0.10% to $1.2757.<\/p>\n

 <\/p>\n

Peering into the commodities, crude oil price hovers near one-month low after depreciating 0.22% to $44.63 per barrel. Its prices received broad pressure due to high global inventories and rising doubts over OPEC\u2019s ability to implement production cuts. On the other hand, gold price gained 0.2% to $1,265.47 following deepening political turmoil that surrounds Trump administration in the US.<\/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

15:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0SNB Monetary Policy Assessment<\/p>\n

15:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0SNB Press Conference<\/p>\n

19:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 \u00a0 \u00a0BoE MPC Meeting Minutes<\/p>\n

04:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 \u00a0 \u00a0BoE Gov Carney Speaks<\/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
06:45<\/td>\nNZD \u2013 GDP (QoQ) (Q1)<\/td>\n0.4%<\/td>\n0.7%<\/td>\n0.5%<\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Employment Change (May)<\/td>\n37.4K<\/td>\n10.0K<\/td>\n42.0K<\/td>\n<\/tr>\n
15:30<\/td>\nCHF \u2013 SNB Interest Rate Decision<\/td>\n-0.75%<\/td>\n-0.75%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Retail Sales (MoM) (May)<\/td>\n2.3%<\/td>\n-0.8%<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP \u2013 BoE Interest Rate Decision (June)<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n245K<\/td>\n242K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (June)<\/td>\n38.8<\/td>\n24.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/u><\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the strong resistance level of 1.2795. Both MA lines which continues to narrow downwards suggests further downside bias for GBPUSD to move towards the support level of 1.2640.<\/p>\n

 <\/p>\n

Resistance level: 1.2795, 1.3045<\/p>\n

Support level: 1.2640, 1.2515<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD remained traded within an ascending triangle following prior retracement from the top level at 1.1280. A successful closure above the resistance level of 1.1225 would suggest EURUSD to extend its gains towards the upper level of the triangle.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remains traded within a downward channel while recently retraced from the resistance level of 109.70. Such retracement suggests USDJPY to extend its downward momentum towards the first target at 108.80.<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.60<\/p>\n

Support level: 108.80, 108.10<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remained traded within a downward channel following prior retracement from the 20-moving average line (red). As MACD continues to hover inside downward momentum, crude oil price is suggested to extend its losses towards the support level of 44.00.<\/p>\n

 <\/p>\n

Resistance level: 45.30, 46.70<\/p>\n

Support level: 44.00, 43.00<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remained traded within a descending triangle following prior rebound from the bottom level at 1258.50. Recent rebound suggests gold price to extend its retracements towards the first target at 1270.00.<\/p>\n

 <\/p>\n

Resistance level: 1270.00, 1281.80<\/p>\n

Support level: 1258.50, 1247.50<\/p>\n","protected":false},"excerpt":{"rendered":"

15 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   Conflicting signals, investors muddled. US dollar nurses some losses on Thursday as weak US inflation data left investors wondering if the Federal Reserve would follow up its rate hike stance later in the year. Overnight, the Federal Reserve increased its key interest rate by 25 basis point to a […]<\/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\/17032"}],"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=17032"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/17032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=17032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=17032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=17032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}