{"id":18389,"date":"2017-07-12T03:16:03","date_gmt":"2017-07-12T03:16:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=18389"},"modified":"2017-07-12T03:16:03","modified_gmt":"2017-07-12T03:16:03","slug":"120717-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120717-daily-analysis\/","title":{"rendered":"120717 Daily Analysis"},"content":{"rendered":"

12 July 2017\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

Wretched dollar as Washington mayhem brews.<\/strong><\/span><\/p>\n

US dollar held firm against other major currencies on early Wednesday trading following overnight\u2019s sell-off after US President Donald Trump\u2019s eldest son released a chain of email which cites Russian support for his father before last year\u2019s election. The dollar index was held steady at around 95.35 as of writing. Donald Trump Jr. was told that a Russian prosecutor offered his father\u2019s presidential campaign incrimination information regarding Democratic rival Hillary Clinton as part of Russian government support based on the email. Heightened political risk within Washington triggered investor\u2019s risk aversion as it may further delay Trump\u2019s fiscal agenda that were deemed to stoked US economy with large public spending and tax reforms. Likewise, investors will be placing their focus on US Federal Reserve Chair Janet Yellen\u2019s semi-annual monetary policy testimony due later today for further signals regarding next rate hike and balance sheet reduction. Against other major currencies, euro was up 0.10% to $1.1477 against the greenback while pairing of GBP\/USD tacked up 0.11% to $1.2861.<\/p>\n

 <\/p>\n

Otherwise, crude oil price rose 1.69% to $45.80 after American Petroleum Institute reported a larger than expected draw in crude oil stockpiles by 8.133 million barrels last week. On the other hand, gold price rose 0.53% to $1,220.01 due to a weaker dollar and risk aversion among investors.<\/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 \u00a0CrudeOIL \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 OPEC Monthly Report<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Fed Chair Yellen Testifies<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 \u00a0 \u00a0BoC Monetary Policy Report<\/p>\n

23:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 \u00a0 \u00a0BoC Gov Poloz Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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
16:30<\/td>\nGBP \u2013 Average Earnings Index +Bonus (May)<\/td>\n2.1%<\/td>\n1.8%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Claimant Count Change (Jun)<\/td>\n7.3K<\/td>\n10.0K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n0.50%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrude Oil \u2013 Crude Oil Inventories<\/td>\n-6.299M<\/td>\n-2.850M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remains traded within a downward channel while currently testing near the bottom level. A breakout from this level would signal a change in trend direction for GBPUSD to extend its losses thereafter.<\/p>\n

 <\/p>\n

Resistance level: 1.2860, 1.2925<\/p>\n

Support level: 1.2800, 1.2755<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD has recently broke out from the top level of ascending triangle, signaling a change in trend direction to move further upwards. A closure above the level of 1.1480 would suggest EURUSD to extend its upward momentum towards the next target at 1.1530.<\/p>\n

 <\/p>\n

Resistance level: 1.1480, 1.1530<\/p>\n

Support level: 1.1440, 1.1385, 1.1330<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY were traded lower following prior retracement from previous high at 114.50. Recent closure below the 20-MA line (red) suggest further downside bias for USDJPY to extend its losses towards the support level of 113.15.<\/p>\n

 <\/p>\n

Resistance level: 113.80, 114.50<\/p>\n

Support level: 113.15, 112.30<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price were traded lower following prior retracement near the resistance level of 45.90. Such price movement suggest its price to be traded lower in short-term as technical correction. Likewise, long-term trend direction suggests crude oil price to extend its uptrend after closing above the level of 45.90.<\/p>\n

 <\/p>\n

Resistance level: 45.90, 46.30<\/p>\n

Support level: 45.45, 45.00<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within a downward channel after recent rebound from the support level of 1207.00. A closure above the resistance level of 1220.00 would suggest gold price to extend its upward momentum towards the upper level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 1220.00, 1230.00<\/p>\n

Support level: 1207.00, 1197.00<\/p>\n","protected":false},"excerpt":{"rendered":"

12 July 2017\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   Wretched dollar as Washington mayhem brews. US dollar held firm against other major currencies on early Wednesday trading following overnight\u2019s sell-off after US President Donald Trump\u2019s eldest son released a chain of email which cites Russian support for his father before last year\u2019s election. The dollar index was held […]<\/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\/18389"}],"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=18389"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/18389\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=18389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=18389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=18389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}