{"id":24372,"date":"2017-11-02T02:18:45","date_gmt":"2017-11-02T02:18:45","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=24372"},"modified":"2017-11-02T02:26:12","modified_gmt":"2017-11-02T02:26:12","slug":"021117-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021117-daily-analysis\/","title":{"rendered":"021117 Daily Analysis"},"content":{"rendered":"

02 November 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 Daily Analysis<\/strong><\/p>\n

Delayed tax bill and Powell pressured on the Greenback.<\/strong><\/p>\n

Dollar index slipped 0.15% from 3.5-month high against a trade-weighted basket of major currencies to 94.68, sagging ahead of delayed U.S. tax bill announcement and market expectation toward naming of Jerome Powell as the next Fed Chair by President Trump. Following an embarrassing one-day postponement of the bill\u2019s unveiling on Wednesday, U.S. lawmakers planned for a measure of $6 trillion tax cuts over 10 years but they did not draw out how to offset them in the future. In addition, nomination of current Fed Governor Jerome Powell as the next Fed Chair is seen as less hawkish compared to other candidates which led to a slump in the Greenback. Overnight, Greenback reached to its highest level since July 11 at 114.45 following gains of 0.5% after it was being catalyzed by upbeat U.S. data and enhanced prospects for a rate hike by the Fed in December. The Fed kept interest rates unchanged as expected but further increased expectations for a year-end rate hike by highlighting robust labor market and economic growth in the U.S. On the other hand, AUD\/USD rose 0.46% to 0.7712 following better-than-expected trade balance figure and building approvals data. Australia\u2019s trade balance widened to AUD 1,745 million in September versus the expected AUD 1,200 million, while building approvals for September rose 1.5% versus the expected 1.0% increase.<\/p>\n

In the commodities market, crude oil price remained stable at $54.25 per barrel after falling by 5 cents due to falling U.S commercial crude oil inventories despite rising output. Otherwise, gold price rose 0.47% to $1280.14 following Greenback\u2019s retracement prior to delayed tax bill and announcement of the next Fed Chair.<\/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

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

20:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE Inflation Report<\/p>\n

20:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE MPC Meeting Minutes<\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE Gov Carney Speaks<\/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 \u00a0FOMC Member Powell Speaks<\/p>\n

00:20\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

06:15\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 Bostic Speaks<\/p>\n

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Today\u2019s Highlight Economy Data<\/u><\/p>\n\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 Building Approvals (MoM) (Sep)<\/td>\n0.1%<\/td>\n-1.0%<\/td>\n1.5%<\/td>\n<\/tr>\n
08:30<\/td>\nAUD \u2013 Trade Balance<\/td>\n0.873B<\/td>\n1.200B<\/td>\n1.745B<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Manufacturing PMI (Oct)<\/td>\n60.5<\/td>\n60.5<\/td>\n–<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Unemployment Change (Oct)<\/td>\n-23K<\/td>\n-11K<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Construction PMI (Oct)<\/td>\n48.1<\/td>\n48.0<\/td>\n–<\/td>\n<\/tr>\n
20:00<\/td>\nGBP \u2013 BoE Interest Rate Decision (Oct)<\/td>\n0.25%<\/td>\n0.50%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n233K<\/td>\n235K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unit Labor Costs (QoQ) (Q3)<\/td>\n0.2%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher prior its rebound from support level at 1.3250. Upward slope of MACD histogram suggest the pair to extend its gains toward the resistance level at 1.3280.<\/p>\n

Resistance level: 1.3280, 1.3320<\/p>\n

Support level: 1.3250, 1.3215<\/p>\n

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

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

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was trade higher prior rebound from support level at 1.1605. Formation of hidden positive divergence by MACD signal line suggest the pair to extend its gains toward resistance level at 1.1705.<\/p>\n

Resistance level: 1.1705, 1.1860<\/p>\n

Support level: 1.1605, 1.1475
\n<\/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 114.15. Formation of bearish engulfing candlestick and downward slope of MACD signal line suggest the pair to undergo short-term technical correction to trade lower toward the support by 200-MA line.<\/p>\n

Resistance level: 114.15, 114.75<\/p>\n

Support level: 113.45, 113.05<\/p>\n


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

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

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher prior rebound from support level at 53.95. Upward slope of MACD histogram suggest the commodity price to extend higher toward the resistance level at 54.85 if breakout above resistance level at 54.35 is successful.<\/p>\n

Resistance level: 54.35, 54.85<\/p>\n

Support level: 53.95, 53.70<\/p>\n

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

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GOLD_, H1: <\/strong>Gold price was traded higher prior breaking above resistance level at 1272.80 and resistance by 200-MA line. Golden-cross as formed by MACD signal line suggests gold price to extend higher if breakout above resistance level at 1280.00 is successful.<\/p>\n

Resistance level: 1280.00, 1291.00<\/p>\n

Support level: 1272.80, 1269.00<\/p>\n

 <\/p>\n

 <\/p>\n

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

02 November 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 Daily Analysis Delayed tax bill and Powell pressured on the Greenback. Dollar index slipped 0.15% from 3.5-month high against a trade-weighted basket of major currencies to 94.68, sagging ahead of delayed U.S. tax bill announcement and market expectation toward naming of Jerome Powell as the next Fed Chair by President Trump. Following […]<\/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\/24372"}],"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=24372"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/24372\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=24372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=24372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=24372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}