{"id":24602,"date":"2017-11-07T02:21:16","date_gmt":"2017-11-07T02:21:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=24602"},"modified":"2017-11-07T02:58:00","modified_gmt":"2017-11-07T02:58:00","slug":"071117-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/071117-daily-analysis\/","title":{"rendered":"071117 Daily Analysis"},"content":{"rendered":"

07 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

Dollar remained supported while RBA in focus.<\/strong><\/p>\n

Dollar index pared its losses against a basket of major currencies during Asia trading hours, rose 0.04% to 94.62 as of writing ahead of Reserve Bank of Australia (RBA)\u2019s interest rate decision. All in all, RBA is set to remain neutral with their latest interest rate decision at record low of 1.50% while some investors are expecting them to call for a rate cut following the recent sluggishness in retail sales and inflation data. Thus, market participants will lay their eyes on the latest rate statement to gauge their prospect towards future economic growth and monetary policy. On the other hand, Greenback gave up its gains against safe-haven currencies overnight amid political uncertainty in the Middle East following an anti-corruption drive led by Saudi Crown Prince Mohammed bin Salman which resulted in a series of arrests of prominent Saudi Arabians. In addition, confirmation of William Dudley – president of Federal Reserve Bank of New York to retire earlier in mid-2018 rather than when his term ends in January 2019 has further weighed on the Greenback. However, losses of the Greenback was limited as data showed that traders trimmed their bearish bets on the dollar since last week.<\/p>\n

In the commodities market, crude oil price rose 0.19% to $57.24 per barrel with turmoil in the Middle East while investors are waiting for the American Petroleum Institute (API) to release its weekly estimates on crude and refined product stocks in the U.S. Likewise, gold price surged higher by 1.02% to $1279.00 a troy ounce, fuelled by political uncertainty in the Middle East.<\/p>\n

 <\/p>\n

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

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

17:00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ECB President Draghi Speaks<\/p>\n

01:55\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BoC Gov Poloz Speaks<\/p>\n

03:30\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Fed Chair Yellen Speaks<\/p>\n

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 <\/p>\n

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
11:30<\/td>\nAUD \u2013 RBA Interest Rate Decision (Nov)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German Industrial Production (MoM) (Sep)<\/td>\n2.6%<\/td>\n-0.8%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Halifax House Price Index (MoM) (Oct)<\/td>\n0.8%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 JOLTs Job Openings<\/td>\n6.082M<\/td>\n5.980M<\/td>\n–<\/td>\n<\/tr>\n
05:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-5.087M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n


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

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher after breaking resistance level at 1.3105. The pair is currently testing resistance by 200-MA line. Successful closure above the 200-MA line would further indicate the pair to extend its gains toward the next resistance level at 1.3220.<\/p>\n

Resistance level: 1.3220, 1.3315<\/p>\n

Support level: 1.3105, 1.2985<\/p>\n

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


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

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher prior its rebound from support level at 1.1580. Formation of bullish engulfing candlestick pattern and positive divergence by MACD histogram suggest the pair to extend higher toward resistance level at 1.1670.<\/p>\n

 <\/p>\n

Resistance level: 1.1670, 1.1750<\/p>\n

Support level: 1.1580, 1.1480<\/p>\n


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

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded within ascending triangle and currently traded lower after its failure to break resistance level at 114.40. It is suggested for the pair to extend losses toward the support level at 112.90 if breakout of the trend line is successful.<\/p>\n

Resistance level: 114.40, 115.90<\/p>\n

Support level: 112.90, 111.50<\/p>\n

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


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

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

\"\"<\/p>\n

Crude OIL, Daily: <\/strong>Crude oil price was traded higher after breaking resistance level at 54.75. Arrangement of bullish candlesticks and upward slope of MACD signal line suggest the commodity price to extend higher toward the next resistance level at 58.10.<\/p>\n

Resistance level: 58.10, 62.55<\/p>\n

Support level: 54.75, 48.60<\/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 lower prior retracement and breaking below support level at 1280.00. Downward slope of MACD histogram suggests the pair to undergo short-term technical correction toward the support level at 1277.00.<\/p>\n

Resistance level: 1280.00, 1282.75<\/p>\n

Support level: 1277.00, 1273.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

07 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 Dollar remained supported while RBA in focus. Dollar index pared its losses against a basket of major currencies during Asia trading hours, rose 0.04% to 94.62 as of writing ahead of Reserve Bank of Australia (RBA)\u2019s interest rate decision. All in all, RBA is set to remain neutral with their […]<\/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\/24602"}],"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=24602"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/24602\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=24602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=24602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=24602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}