{"id":24428,"date":"2017-11-03T02:47:21","date_gmt":"2017-11-03T02:47:21","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=24428"},"modified":"2017-11-03T02:51:12","modified_gmt":"2017-11-03T02:51:12","slug":"031117-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/031117-daily-analysis\/","title":{"rendered":"031117 Daily Analysis"},"content":{"rendered":"

03 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

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Sterling suicides as BoE hikes their rates.<\/strong><\/p>\n

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GBP\/USD plunged sharply on Thursday by 0.88% at 1.3062 as of writing following the Bank of England (BoE)\u2019s decision to raise interest rates for the first time in 10-years with a dovish tone that any further rate hike in future would be at a gradual pace and to a limited extent. The BoE reversed the rate cut of August 2016 following the aftermath of the Brexit vote that helped in cushioning Britain\u2019s economy by voting to increase interest rates from 0.25% to 0.5%. Dovish momentum was initiated after BoE signaled that they will raise interest rates gradually over the next three years, suggesting a less frequent rate hike momentum as what investors are expecting. On the other hand, the US dollar held steady versus a trade-weighted basket of currencies during Asian trading hours, traded at $94.66 as of writing while investors shifted focus to U.S. jobs data after President Donald Trump came with no surprise by nominating Reserve Governor Jerome Powell to be the next Fed Chair. Overnight, the Greenback slipped after Republicans in the U.S. House of Representatives released proposals to overhaul the tax code, cutting tax rates not only on corporate profits but also on individuals and families. However, despite the contents of the tax reforms that seem positive for the Greenback, analysts warned that there is still uncertainty over how quickly the tax reforms could be implemented.<\/p>\n

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In the commodities market, crude oil price rose 0.48% to $54.80 a barrel after it was fuelled by investors\u2019 expectation toward rebalancing of the global oil market following ongoing OPEC and non-OPEC output cuts. Otherwise, gold price rose 0.20% to $1277.48 a troy ounce as President Donald Trump announced Jerome Powell to lead the U.S. Federal Reserve.<\/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

00:15\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 Kashkari 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\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 Retail Sales (MoM) (Sep)<\/td>\n-0.5%<\/td>\n0.4%<\/td>\n0.0%<\/td>\n<\/tr>\n
09:45<\/td>\nCNY \u2013 Caixin Services PMI (Oct)<\/td>\n50.6<\/td>\n50.8<\/td>\n51.2<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Services PMI (Oct)<\/td>\n53.6<\/td>\n53.3<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Oct)<\/td>\n0.5%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Oct)<\/td>\n-33K<\/td>\n315K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013Unemployment Rate (Oct)<\/td>\n4.2%<\/td>\n4.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Employment Change (Oct)<\/td>\n10.0K<\/td>\n15.0K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Unemployment Rate (Oct)<\/td>\n6.2%<\/td>\n6.2%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Sep)<\/td>\n1.2%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing Employment (Oct)<\/td>\n56.8<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Oct)<\/td>\n59.8<\/td>\n58.5<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n737<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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GBPUSD, H4: <\/strong>GBPUSD was traded lower prior breaking support level at 1.3245. Arrangement of bearish candlesticks and increasing bearish momentum as shown by MACD histogram suggest the pair to extend losses toward the next support level at 1.3030.<\/p>\n

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Resistance level: 1.3245, 1.3320<\/p>\n

Support level: 1.3030, 1.2960<\/p>\n


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

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

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EURUSD, H4: <\/strong>EURUSD was traded 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 the resistance level at 1.1705.<\/p>\n

Resistance level: 1.1705, 1.1745<\/p>\n

Support level: 1.1605, 1.1475<\/p>\n


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

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

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USDJPY, H1: <\/strong>USDJPY was traded lower prior retracement from resistance lvel at 114.15. Death-cross as formed by MACD signal line suggests the pair to trade lower toward the support level at 113.80.<\/p>\n

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

Support level: 113.80, 113.45<\/p>\n


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

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CrudeOIL, Daily: <\/strong>Crude oil price was traded higher prior gaining its support at 54.25. Bullish engulfing candlestick and upward slope of MACD signal line suggest the commodity price to extend higher in longer-term toward the resistance level at 56.95.<\/p>\n

Resistance level: 56.95, 61.15<\/p>\n

Support level: 54.25, 51.30<\/p>\n


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

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

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GOLD_, H1: <\/strong>Gold price was traded in consolidation within ascending triangle. Absence of obvious signal from both candlestick pattern and MACD histogram suggest to wait for breakout to occur for clearer indication of its price movement.<\/p>\n

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

Support level: 1273.15, 1268.95<\/p>\n

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

03 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   Sterling suicides as BoE hikes their rates. GBP\/USD plunged sharply on Thursday by 0.88% at 1.3062 as of writing following the Bank of England (BoE)\u2019s decision to raise interest rates for the first time in 10-years with a dovish tone that any further rate hike in future would be […]<\/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\/24428"}],"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=24428"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/24428\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=24428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=24428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=24428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}