{"id":19600,"date":"2017-08-03T03:00:33","date_gmt":"2017-08-03T03:00:33","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=19600"},"modified":"2017-08-03T03:00:33","modified_gmt":"2017-08-03T03:00:33","slug":"030817-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030817-daily-analysis\/","title":{"rendered":"030817 Daily Analysis"},"content":{"rendered":"

3 August 2017\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

ADP disappoints, NFP akin?<\/strong><\/span><\/p>\n

Greenback rebounds from 14-months low on Thursday after private sector jobs report fumbled from economist\u2019s expectations which has pulled down market\u2019s sentiment towards the economic giant. According to ADP and Moody\u2019s Analytics, US economy has generated only 178,000 jobs in the private sector for the month of July, a short of expected gain with 185,000. The sluggish performance in private hiring signals a possible slowdown in the US labor market which may hinder US Federal Reserve from pursuing its gradual approach to tighten their monetary policy. Likewise, the dollar index was up 0.14% to 92.81 against six major peers. In the other region, pound sterling was held steady at $1.3217 against the greenback as market participants awaits Bank of England\u2019s monetary policy decision and its accompanying which may offer further insights regarding their stance towards its future policy direction.<\/p>\n

 <\/p>\n

In the commodities section, crude oil price slumped 0.34% to $49.92 as EIA reported a less-than-expected draw in crude inventories which has reduce some optimism in the market sentiment. Otherwise, gold price depreciates by 0.75% to $1,262.20 as the greenback stages its rebound from 14-months low.<\/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

Today\u2019s Highlight Economy Data<\/u><\/p>\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 Trade Balance (Jun)<\/td>\n2.471B<\/td>\n1.800B<\/td>\n0.856B<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Jul)<\/td>\n53.4<\/td>\n53.6<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP \u2013 BoE Interest Rate Decision (Aug)<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n244K<\/td>\n242K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Jun)<\/td>\n-0.8%<\/td>\n2.9%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Jul)<\/td>\n57.4<\/td>\n57.0<\/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 remains traded within an upward channel while currently testing near the bottom level. A successful rebound from this level would suggest GPBUSD to remain traded within the upward channel while next target will be at 1.3240.<\/p>\n

 <\/p>\n

Resistance level: 1.3240, 1.3280<\/p>\n

Support level: 1.3200, 1.3170<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD pared its earlier gains following a retrace from the resistance level of 1.1900. MACD which illustrates diminished upward momentum suggests EURUSD to be traded lower in short-term as technical correction. Otherwise, long-term trend direction still suggests an uptrend.<\/p>\n

 <\/p>\n

Resistance level: 1.1850, 1.1900<\/p>\n

Support level: 1.1775, 1.1700<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the downward trend line. Recent closure below the 20-MA line (red) suggests further downside bias to advance towards the target of support level at 110.45.<\/p>\n

 <\/p>\n

Resistance level: 110.80, 111.05<\/p>\n

Support level: 110.45, 110.20<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price halts its recovery while threading lower following a retracement from the 20-MA line (red). Such price movement suggests further bearish bias on its price to advance towards the support level at 49.25.<\/p>\n

 <\/p>\n

Resistance level: 49.85, 50.40<\/p>\n

Support level: 49.25, 48.45<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price has extended its losses following prior closure below the support level of 1265.50. MACD histogram which illustrates negative divergence suggests gold price to advance further down, towards the strong support level at 1257.60.<\/p>\n

 <\/p>\n

Resistance level: 1265.50, 1273.95<\/p>\n

Support level: 1257.60, 1247.45<\/p>\n","protected":false},"excerpt":{"rendered":"

3 August 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   ADP disappoints, NFP akin? Greenback rebounds from 14-months low on Thursday after private sector jobs report fumbled from economist\u2019s expectations which has pulled down market\u2019s sentiment towards the economic giant. According to ADP and Moody\u2019s Analytics, US economy has generated only 178,000 jobs in the private sector for the […]<\/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\/19600"}],"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=19600"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/19600\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=19600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=19600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=19600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}