{"id":23508,"date":"2017-10-18T02:46:17","date_gmt":"2017-10-18T02:46:17","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=23508"},"modified":"2017-10-18T02:46:17","modified_gmt":"2017-10-18T02:46:17","slug":"181017-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/181017-daily-analysis\/","title":{"rendered":"181017 Daily Analysis"},"content":{"rendered":"

18 October 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\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

Fed Chair to-be more hawkish, Greenback on its support.<\/strong><\/p>\n

Dollar index was traded higher against a basket of major currencies, last quoted up 0.124% to 93.36. The gains in the Greenback are buoyed by economic data that topped expectations indicating the underlying strength in the U.S. economy. According to statement by Labor Department, U.S. import prices recorded the largest gain with a 0.7% increase for the month of September versus the expected 0.5% increase. In addition, recovery of construction and utilities production after the impact of Hurricanes Harvey and Irma last month boasted the U.S. industrial output and manufacturing production to rise 0.3% and 0.1% respectively. The increase in Greenback was further catalyzed following a report that President Donald Trump favored John Taylor, one of the more hawkish candidates as the next Fed chair. Release of the news has further spiked up investors\u2019 expectation toward Fed to take more aggressive stance on monetary policy. On the other hand, EUR\/USD decreased by 0.32% following failure of German ZEW index showing an increase to 17.6 but missed the expected 20.0.<\/p>\n

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In the commodity market, crude oil price extend its gains by 0.40% to $52.09 per barrel after American Petroleum Institute (API) stated that crude oil inventories reduced by 7.130 million barrels\u00a0 versus the expected decrease by 3.097 million barrels. Otherwise, gold price fell by 1.18% to $1286.72 a troy ounce overnight following a sharp rise in the Greenback on better-than-expected economic data and growing speculation of investors toward the next head of the Federal Reserve to be more hawkish on monetary policy.<\/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 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 Event<\/strong><\/p>\n

16:10\u00a0\u00a0\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 \u00a0ECB President Draghi Speaks<\/p>\n

20:00\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 \u00a0FOMC Member Dudley Speaks<\/p>\n

20:00\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 \u00a0FOMC Member Kaplan Speaks<\/p>\n

\u00a0<\/strong><\/p>\n

 <\/p>\n


\n<\/u><\/p>\n

\u00a0<\/u><\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\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
08:30<\/td>\nAUD \u2013 NAB Quarterly Business Confidence<\/td>\n7<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Average Earnings Index + Bonus (Aug)<\/td>\n2.1%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Claimant Count Change (Sep)<\/td>\n-2.8K<\/td>\n1.0K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Sep)<\/td>\n1.300M<\/td>\n1.245M<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Housing Starts (MoM) (Sep)<\/td>\n-0.8%<\/td>\n-0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Manufacturing Sales (MoM) (Aug)<\/td>\n-2.6%<\/td>\n-0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-2.747M<\/td>\n-1.991M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/u><\/p>\n


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

\u00a0<\/u><\/strong><\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher prior its rebound from support level at 1.3150. Formation of pin bar and golden-cross by MACD signal line suggest the pair to trade higher. However, a break above resistance by 200-MA line is required for the pair to extend its gain toward the resistance level at 1.3220.<\/p>\n

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Resistance level: 1.3220, 1.3300<\/p>\n

Support level: 1.3150, 1.3020<\/p>\n

\u00a0<\/strong><\/p>\n


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

\u00a0<\/u><\/strong><\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher prior its rebound from support level at 1.1735. Formation of pin bar and positive divergence as shown by MACD signal line suggest the pair to continue its momentum to trade higher toward resistance by 200-MA line.<\/p>\n

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Resistance level: 1.1815, 1.1870<\/p>\n

Support level: 1.1735, 1.1680<\/p>\n


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

\u00a0<\/strong><\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower prior its failure to break above resistance level at 112.35 and resistance by 200-MA line. Arrangement of bearish candlesticks and formation of negative divergence as shown by MACD histogram suggest the pair to extend its losses toward support level at 112.00.<\/p>\n

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Resistance level: 112.35, 112.70<\/p>\n

Support level: 112.00, 111.65<\/p>\n

\u00a0<\/strong><\/p>\n


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

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher prior its rebound from support level at 51.65. A breakout above resistance level at 52.40 is required for crude oil price to continue its momentum to trade higher toward the next resistance level at 53.00.<\/p>\n

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Resistance level: 52.40, 53.00<\/p>\n

Support level: 51.65, 51.35<\/p>\n

\u00a0<\/strong><\/p>\n


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

\u00a0<\/strong><\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher prior its rebound from support level at 1283.40. Formation of pin bar and golden-cross by MACD signal line suggest gold price to trade higher, testing the resistance by 200-MA line.<\/p>\n

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Resistance level: 1290.20, 1297.60<\/p>\n

Support level: 1283.40, 1278.35<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

18 October 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\u00a0\u00a0\u00a0 Daily Analysis Fed Chair to-be more hawkish, Greenback on its support. Dollar index was traded higher against a basket of major currencies, last quoted up 0.124% to 93.36. The gains in the Greenback are buoyed by economic data that topped expectations indicating the underlying strength in the U.S. economy. According to statement […]<\/p>\n","protected":false},"author":1,"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\/23508"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=23508"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/23508\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=23508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=23508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=23508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}