{"id":22671,"date":"2017-10-03T03:24:03","date_gmt":"2017-10-03T03:24:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=22671"},"modified":"2017-10-03T03:24:03","modified_gmt":"2017-10-03T03:24:03","slug":"031017-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/031017-daily-analysis\/","title":{"rendered":"031017 Daily Analysis"},"content":{"rendered":"

3 October 2017\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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Catalonia drags down Euro, dollar-bull unscathed.<\/strong><\/span><\/p>\n

US dollar extended its gains during Asian trading hours on Tuesday following optimistic manufacturing data which has reinforced market sentiment towards an interest rate hike by year-end. The dollar index added up 0.10% while last quoted at 93.45 as of writing. According to the Institute for Supply Management (ISM), the index of national factory activity for the month of September tacks in at 60.8, versus forecast for a depreciation to 58.0. The data achieved its highest level since May 2004, spurring more expectation for a solid third quarter economic growth and performance. Greenback has risen in the recent weeks following Fed Chair Janet Yellen\u2019s hawkish signal while coupled with US President Donald Trump\u2019s tax reformation which could help escalate the country\u2019s economic growth in the future. On the other hand, EUR\/USD was down 0.02% while exchanged hands at $1.1731 amid renewed Eurozone geopolitical risk. The single common currency came under pressure following the initiation of disputed independence referendum in Catalonia from Spain which could spark further uncertainty for the country and economic bloc.<\/p>\n

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In the commodities market, crude oil price sheds 0.26% while traded at $50.45 per barrel following report that shows an uptick in OPEC\u2019s oil production last month. According to recent Reuters poll, the output among OPEC members rose by 50,000 per barrel a day in September as the cartel\u2019s compliance with its production cut agreement fell to 86%. Otherwise, spot gold price was down 0.05% to $1,270.32 amid stronger dollar and higher expectation towards rising borrowing cost in the future.<\/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 Event<\/strong><\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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 Germany \u2013 Unification Day<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\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 China \u2013 National Day<\/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 \u00a0 Event<\/strong><\/p>\n

11:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\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 RBA Rate Statement<\/p>\n

20:30\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 FOMC Member Powell Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
11:30<\/td>\nAUD \u2013 RBA Interest Rate Decision (Oct)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Construction PMI (Sep)<\/td>\n51.1<\/td>\n51.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior closure below the support level of 1.3285. Both MA line which continues to expand downwards, in tandem with MACD histogram which illustrate downward signal suggest the pair to advance towards the next target at 1.3190.<\/p>\n

 <\/p>\n

Resistance level: 1.3285, 1.3405<\/p>\n

Support level: 1.3190, 1.3090<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD remains under pressure following prior retracement before the 60-MA line (green). Both MA lines which continues to narrow downwards suggest the pair to extend its losses after successfully closing below the strong support level of 1.1715.<\/p>\n

 <\/p>\n

Resistance level: 1.1930, 1.2090<\/p>\n

Support level: 1.1715, 1.1480<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remains traded within an upward channel while currently testing at the top level near the strong resistance of 113.20. As the selling pressure from the top is relatively substantial, thus a retracement may suggest short-term downside bias for the pair to extend its losses towards the lower level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 113.20, 113.45<\/p>\n

Support level: 112.90, 112.65<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price extended its losses following prior breakout from the upward trend line. Both MA lines which continues to narrow downwards suggest the commodity price to advance further down and retest at the strong support level near 50.05.<\/p>\n

 <\/p>\n

Resistance level: 51.10, 52.85<\/p>\n

Support level: 50.05, 49.20<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price extended its losses following prior retracement while closing below the support level of 1281.05. However, downward signal from MACD histogram which continues to diminish may suggest gold price to be traded higher in short-term as retracement before continue its major downside bias.<\/p>\n

 <\/p>\n

Resistance level: 1281.05, 1290.00<\/p>\n

Support level: 1263.00, 1237.35<\/p>\n","protected":false},"excerpt":{"rendered":"

3 October 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Catalonia drags down Euro, dollar-bull unscathed. US dollar extended its gains during Asian trading hours on Tuesday following optimistic manufacturing data which has reinforced market sentiment towards an interest rate hike by year-end. The dollar index added up 0.10% while last quoted at 93.45 as of writing. According to […]<\/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\/22671"}],"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=22671"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/22671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=22671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=22671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=22671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}