{"id":21384,"date":"2017-09-08T03:06:46","date_gmt":"2017-09-08T03:06:46","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=21384"},"modified":"2017-09-08T03:06:46","modified_gmt":"2017-09-08T03:06:46","slug":"080917-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080917-daily-analysis\/","title":{"rendered":"080917 Daily Analysis"},"content":{"rendered":"

8 September 2017\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 Daily Analysis<\/strong><\/p>\n

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Dollar below 92, ECB might taper soon?<\/strong><\/span><\/p>\n

US dollar wilts against other major currencies on Friday amid refreshed demand for the single common currency \u2013 Euro. As of writing, the dollar index extended its losses by 0.21% to 91.35. Broad selling pressure were initiated across the board following the release of downbeat US jobless claims data and hawkish remarks given by European Central Bank President Mario Draghi. In the US front, jobless claims for last week rose more than expected to 298,000, exceeding consensus forecast of 241,000. Such data spurs further concern over the recent slack in the US labor market. On the other hand, euro rose to two-weeks high against the greenback on yesterday following President Draghi\u2019s remark to announce a decision on the future of QE program this coming October. Although he cited such action were due to robust growth in the EU zone, he too cautioned on the recent volatility in euro which may affect near-term outlook on inflationary pressure. Likewise, pair of EUR\/USD was up 0.09% to $1.2035 during Asian trading hours.<\/p>\n

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In the commodities market, crude oil price trims its losses by 0.08% to $49.13 while remained overshadowed by a larger-than-expected build in US crude oil stocks. Otherwise, gold price rose 0.33% to a one-year high of $1,349.58 over the backdrop of a weaker dollar.<\/p>\n

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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

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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 \u00a0Event<\/strong><\/p>\n

20:45\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\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\u00a0\u00a0\u00a0 FOMC Member Harker Speaks<\/p>\n

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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
07:50<\/td>\nJPY \u2013 GDP (QoQ) (Q2)<\/td>\n1.0%<\/td>\n0.7%<\/td>\n0.6%<\/td>\n<\/tr>\n
Tentative<\/td>\nCNY \u2013 Trade Balance (USD) (Aug)<\/td>\n46.73B<\/td>\n48.60B<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Jul)<\/td>\n0.0%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Employment Change (Aug)<\/td>\n10.9K<\/td>\n19.0K<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n759<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD extended gains following prior closure above the resistance level of 1.3075. Both MA lines which continues to expand upwards suggests further upside bias for GBPUSD to advance towards the resistance level of 1.3160.<\/p>\n

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Resistance level: 1.3160, 1.3210<\/p>\n

Support level: 1.3075, 1.3020<\/p>\n

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 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD extended its uptrend following prior closure above the resistance level of 1.1970. MACD histogram which continues to illustrate upward signal suggests EURUSD to advance further up, towards the target of 1.2070.<\/p>\n

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Resistance level: 1.2070, 1.2130<\/p>\n

Support level: 1.1970, 1.1915<\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remains traded within a downward channel while currently testing at the bottom level. MACD histogram which illustrate negative divergence suggests possibility to occur a breakout at this level and signal a change in trend direction to move further downwards.<\/p>\n

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Resistance level: 109.00, 109.70<\/p>\n

Support level: 108.25, 107.50<\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level of 48.55. Both MA lines which continues to expand upwards suggests its prices to move further up and retest at the resistance level of 49.35.<\/p>\n

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Resistance level: 49.35, 49.95<\/p>\n

Support level: 48.55, 48.00<\/p>\n

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

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price extended its prior uptrend while currently testing at the resistance level of 1350.00. A successful closure above this level would suggests further upside bias for gold price to extend towards the subsequent target of 1374.75.<\/p>\n

 <\/p>\n

Resistance level: 1350.00, 1374.75<\/p>\n

Support level: 1320.80, 1305.00<\/p>\n","protected":false},"excerpt":{"rendered":"

8 September 2017\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 Daily Analysis   Dollar below 92, ECB might taper soon? US dollar wilts against other major currencies on Friday amid refreshed demand for the single common currency \u2013 Euro. As of writing, the dollar index extended its losses by 0.21% to 91.35. Broad selling pressure were initiated across the board following 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\/21384"}],"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=21384"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/21384\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=21384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=21384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=21384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}