{"id":20805,"date":"2017-08-24T03:10:31","date_gmt":"2017-08-24T03:10:31","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=20805"},"modified":"2017-08-24T03:10:31","modified_gmt":"2017-08-24T03:10:31","slug":"240817-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240817-daily-analysis\/","title":{"rendered":"240817 Daily Analysis"},"content":{"rendered":"

24 August 2017\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 defends as Jackson Hole conclave approaches.<\/strong><\/span><\/p>\n

US dollar retraced some losses on Thursday while market participants anticipates the commencement of Jackson Hole Symposium due later in the day. Dollar index added up 0.03% and last quoted at 93.06. Overnight, the greenback fell against other major peers amid renewed political uncertainty in Washington. Demand for safe-haven currencies invigorated after President Donald Trump threatens to shut down the government if US Congress does not fund for the construction of border wall near Mexico. Such remarks came ahead of speech given by European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen at the two-day symposium. Otherwise, Draghi is expected to remained hushed on future monetary policy stance in order to avert recent rally on the Euro amid ECB\u2019s concern over recent sharp rise and its impact on their economy. Also weighing on the greenback was a surge in euro due to optimistic manufacturing and services data while coupled with softer-than-expected US New Home Sales.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price eased 0.08% to $48.37 while remained supported by a larger-than-expected draw in US crude stockpiles. According to the Energy Information Administration, crude inventories fell for its eight-consecutive week with 3.3 million barrels last week. On the other hand, gold price appreciates by 0.03% to $1,289.25 while remained in a tight trading range ahead of Jackson Hole.<\/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 \u00a0USD \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Jackson Hole Symposium<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 GDP (QoQ) (Q2)<\/td>\n0.3%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n232K<\/td>\n238K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Jul)<\/td>\n5.52M<\/td>\n5.57M<\/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 has extended its losses while currently testing near the support level of 1.2790. Both MA lines which continues to expand downwards suggests further downside bias after successfully closing below the target of 1.2790.<\/p>\n

 <\/p>\n

Resistance level: 1.2850, 1.2900<\/p>\n

Support level: 1.2790, 1.2720<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the strong resistance level of 1.1820 while forming a double top formation. MACD histogram which begins to illustrate negative divergence suggests EURUSD to advance further down, towards the next target at 1.1780.<\/p>\n

 <\/p>\n

Resistance level: 1.1820, 1.1845<\/p>\n

Support level: 1.1780, 1.1750<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following a rebound from the strong support level of 108.90. A successful closure above the 20-MA line (red) would suggest USDJPY to advance further up and retest near the resistance level of 109.50.<\/p>\n

 <\/p>\n

Resistance level: 109.50, 110.10<\/p>\n

Support level: 108.90, 108.30<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded lower following prior retracement from the top level of narrowing triangle. Such price action suggests short-term downside bias for its prices to move further down, towards the next target at 47.95.<\/p>\n

 <\/p>\n

Resistance level: 48.40, 48.90<\/p>\n

Support level: 47.95, 47.40<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded within a narrowing triangle following prior retracement from the top level. A closure below the support level of 1287.85 would suggest gold price to extend its short-term losses, towards the bottom level of the triangle.<\/p>\n

 <\/p>\n

Resistance level: 1292.75, 1296.50<\/p>\n

Support level: 1287.85, 1283.90<\/p>\n","protected":false},"excerpt":{"rendered":"

24 August 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Greenback defends as Jackson Hole conclave approaches. US dollar retraced some losses on Thursday while market participants anticipates the commencement of Jackson Hole Symposium due later in the day. Dollar index added up 0.03% and last quoted at 93.06. Overnight, the greenback fell against other major peers amid renewed […]<\/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\/20805"}],"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=20805"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/20805\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=20805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=20805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=20805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}