{"id":28090,"date":"2018-05-16T01:47:45","date_gmt":"2018-05-16T01:47:45","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28090"},"modified":"2018-05-16T02:28:07","modified_gmt":"2018-05-16T02:28:07","slug":"160518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160518-daily-analysis\/","title":{"rendered":"160518 Daily Analysis"},"content":{"rendered":"

16 May 2018\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

Greenback propelled on bullish track following a break of Treasury yields above 3%.<\/strong><\/p>\n

Dollar index was traded higher against its major peers by 0.58% to 93.15 as of writing on the back of rising U.S. bond yields above 3% despite the release of mixed economic data yesterday. Overnight, the Commerce Department reported a fall in retail sales to 0.3%, missing the forecast reading for an increase of 0.4%. However, the losses endured following an upward revision of prior data for retail sales from 0.6% to 0.8% for the month of April. These solid figure has boasted sentiment of market participants that weakness seen in first-quarter consumer spending was only temporary. On the contrary, EUR\/USD endured losses by 0.57% to $1.1826 after German GDP missed the expected reading of 1.8%, last stood at 1.6% which indicates that economic growth in the European zone has slowed down slightly in the first quarter.<\/p>\n

\n

 <\/p>\n

In the commodities market, crude oil price rose 35 cents to $71.04 per barrel following an optimistic investors\u2019 sentiment towards reduced global supplies following U.S. sanctions on Iran. Otherwise, gold price fell 1.83% to $1292.39 a troy ounce after investors\u2019 appetite to hold the yellow metal was believed to have reduced following recent surge in the Greenback and U.S. bond yields.<\/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

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

16:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0IEA Monthly 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 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB President Draghi 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 Bostic Speaks<\/p>\n


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

Today\u2019s Highlight Economy Data<\/u><\/p>\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
07:50<\/td>\nJPY \u2013 GDP (QoQ) (Q1)<\/td>\n0.1%<\/td>\n0.0%<\/td>\n-0.2%<\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Wage Price Index (QoQ) (Q1)<\/td>\n0.6%<\/td>\n0.6%<\/td>\n0.5%<\/td>\n<\/tr>\n
12:30<\/td>\nJPY \u2013 Industrial Production (MoM) (Mar)<\/td>\n1.2%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German CPI (MoM) (Apr)<\/td>\n0.0%<\/td>\n0.0%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Apr)<\/td>\n1.2%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Apr)<\/td>\n1.379M<\/td>\n1.350M<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Housing Starts (Apr)<\/td>\n1.319M<\/td>\n1.324M<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nUSD \u2013 Industrial Production (MoM) (Apr)<\/td>\n0.5%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-2.197M<\/td>\n-0.719M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n-2.714M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher prior rebound from support area around 1.3440. Successful breakout above current resistance level at 1.3500 would indicate the pair to undergo short-term technical correction to trade higher towards the next resistance level at 1.3540.<\/p>\n

Resistance level: 1.3500, 1.3540<\/p>\n

Support level: 1.3440, 1.3300<\/p>\n


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

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower after breaking support level at 1.1840. However, golden-cross as displayed by MACD signal line would suggest the pair to undergo short-term technical correction to trade higher before continuing its downside bias.<\/p>\n

Resistance level: 1.1840, 1.1900<\/p>\n

Support level: 1.1770, 1.1720<\/p>\n


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

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following breaking resistance level at 110.00. MACD signal line that displays ongoing bullish momentum would suggest the pair to extend its gains if breakout at the next resistance level 110.40 is successful.<\/p>\n

Resistance level: 110.40, 110.90<\/p>\n

Support level: 110.00, 109.60<\/p>\n

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


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

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower prior retracement from resistance level at 71.20. A lack of obvious signal from both candlestick pattern and MACD would suggest to wait for confirmation breakout to grasp the movement of the commodity price in the near future.<\/p>\n

Resistance level: 71.20, 71.70<\/p>\n

Support level: 70.60, 69.80<\/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 after rebound from support level at 1290.00. Golden-cross as displayed by MACD signal line would suggest the commodity price to undergo short-term technical correction to trade higher before continuing its bearish bias.<\/p>\n

Resistance level: 1295.70, 1301.20<\/p>\n

Support level: 1290.00, 1286.00<\/p>\n","protected":false},"excerpt":{"rendered":"

16 May 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis Greenback propelled on bullish track following a break of Treasury yields above 3%. Dollar index was traded higher against its major peers by 0.58% to 93.15 as of writing on the back of rising U.S. bond yields above 3% despite the release of mixed economic data yesterday. Overnight, the Commerce […]<\/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\/28090"}],"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=28090"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28090\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}