{"id":19825,"date":"2017-08-08T03:04:57","date_gmt":"2017-08-08T03:04:57","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=19825"},"modified":"2017-08-08T03:04:57","modified_gmt":"2017-08-08T03:04:57","slug":"080817-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080817-daily-analysis\/","title":{"rendered":"080817 Daily Analysis"},"content":{"rendered":"

8 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

Dollar flats, inflation next.<\/strong><\/span><\/p>\n

Greenback took a step back against other major peers on Tuesday while investor digests remarks from Fed officials from overnight. While both Feds displayed some concern with regards to the growth and inflation, Kashkari tone were rather optimistic as he reiterated that the economy is well-performed. His remarks came over the backdrop whereby a series of economic data suggests possible slowdown in the economy prior to the release of July\u2019s US jobs report. Further weighing on the currency was renewed geopolitical concerns after fresh sanctions were levied on North Korea for its nuclear and missiles pursues. For the week ahead, inflation data from the US is expected to spur the market with producer price index and consumer price index bound to be released on Thursday and Friday respectively. Consequently, the dollar index eased 0.05% to 93.19. Against other major peers, GBP\/USD tacked at $1.3037 while EUR\/USD was up 0.07% to $1.1803.<\/p>\n

 <\/p>\n

As for commodities, crude oil price dipped 0.24% to $49.27 following renewed oversupply concerns after a report showed that US production rose to a two-years high while Libyan oil output rebounds sharply. On the other hand, gold price was flat at $1,258.46 while being balanced by strong NFP report and heightened geopolitical risks.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 NAB Business Confidence (Jul)<\/td>\n9<\/td>\n–<\/td>\n12<\/td>\n<\/tr>\n
Tentative<\/td>\nCNY \u2013 Trade Balance (USD) (Jul)<\/td>\n42.77B<\/td>\n46.08B<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nCAD \u2013 Housing Starts (Jul)<\/td>\n212.7K<\/td>\n205.0K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Jun)<\/td>\n5.666M<\/td>\n5.775M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n1.779M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD pared its losses following prior rebound below the support level of 1.3030. Such price action suggests GBPUSD to be traded higher in short-term as technical correction. Otherwise, long-term trend direction suggests further downside bias due to recent formation of death cross by both MA line.<\/p>\n

 <\/p>\n

Resistance level: 1.3080, 1.3145<\/p>\n

Support level: 1.3030, 1.2980<\/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 support level of 1.1775. A closure above the 20-MA line (red) would suggest EURUSD to extend its upward momentum and retest near the resistance level of 1.1840.<\/p>\n

 <\/p>\n

Resistance level: 1.1840, 1.1900<\/p>\n

Support level: 1.1775, 1.1720<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remains traded within a range following prior retracement from the 60-MA line (green). The price action suggests short-term downside bias for USDJPY to extend its losses towards the target of support level at 110.35.<\/p>\n

 <\/p>\n

Resistance level: 111.00, 111.65<\/p>\n

Support level: 110.35, 109.90<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within a descending triangle while recently retraced from the resistance level of 49.40. A closure below the support level of 49.15 would suggest an extension of downside bias towards the next target at 48.85 thereafter.<\/p>\n

 <\/p>\n

Resistance level: 49.40, 49.65<\/p>\n

Support level: 49.15, 48.85<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price pared its earlier losses following a rebound near the 23.6 Fibonacci level of 1257.60. Such price action suggests gold price to be traded higher at short-term as technical correction. Otherwise, it is suggested to long-term downside bias due to recent formation of death cross by both MA lines.<\/p>\n

 <\/p>\n

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

Support level: 1257.60, 1247.50<\/p>\n","protected":false},"excerpt":{"rendered":"

8 August 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Dollar flats, inflation next. Greenback took a step back against other major peers on Tuesday while investor digests remarks from Fed officials from overnight. While both Feds displayed some concern with regards to the growth and inflation, Kashkari tone were rather optimistic as he reiterated that the economy is […]<\/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\/19825"}],"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=19825"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/19825\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=19825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=19825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=19825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}