{"id":28157,"date":"2018-05-17T01:36:11","date_gmt":"2018-05-17T01:36:11","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28157"},"modified":"2018-05-17T01:36:11","modified_gmt":"2018-05-17T01:36:11","slug":"170518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170518-daily-analysis\/","title":{"rendered":"170518 Daily Analysis"},"content":{"rendered":"

17 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

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Dollar-bull takes a breather over mixed economic data. <\/strong><\/p>\n

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Dollar index was traded lower against a trade-weighted basket of major currencies by 0.09% to 93.15 following a mixed bag of economic data in the region while recent recovery of Euro added selling pressure on the Greenback. Overnight, Greenback received its initial boast after building permits rose by 1.8% to 1.347 million units versus the expected reading for 2.3% decline, while U.S. industrial output recorded gains of 0.7% as compared to the economists\u2019 forecast for 0.5% gains. However, gains on the Greenback was erased following a weaker-than-expected U.S. homebuilding data, last stood at 3.7% decline versus the forecast reading of 0.7% decline. The currency has failed to stand on its foot following recent rebound of Euro from its low level despite reports that Italy\u2019s anti-establishment 5-Star Movement and anti-immigrant League may inquire the European Central Bank (ECB) to forgive $294.18 billion of debt. As of writing, EUR\/USD pared its losses by 0.03% to $1.1810.<\/p>\n

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In the commodities market, crude oil price extended gains by 0.21% to 71.63 per barrel following a large draw in U.S. crude supplies by 1.404 million barrels last week versus the expected reading for a reduction of only 0.763 million barrels. Likewise, gold price recovered its losses by 0.17% to $1290.70 a troy ounce following recent retracement of the Greenback.<\/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

06:30\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 FOMC Member Bullard Speaks<\/p>\n

22:45\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 FOMC Member Kashkari Speaks<\/p>\n

01:30 (Fri)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Member Kaplan Speaks<\/p>\n

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Today\u2019s Highlight Economy Data<\/u><\/p>\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
09:30<\/td>\nAUD \u2013 Employment Change (Apr)<\/td>\n4.9K<\/td>\n20.3K<\/td>\n22.6K<\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Unemployment Rate (Apr)<\/td>\n5.5%<\/td>\n5.5%<\/td>\n5.6%<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n211K<\/td>\n219K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (May)<\/td>\n23.2<\/td>\n21.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Philly Fed Employment (May)<\/td>\n27.1<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Foreign Securities Purchases (Mar)<\/td>\n3.96B<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher prior rebound from support level at 1.3450. Golden-cross as displayed by MACD signal line would give indication for the pair to trade higher if candlestick successfully closes above the 61.8 Fibonacci level.<\/p>\n

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Resistance level: 1.3550, 1.3610<\/p>\n

Support level: 1.3450, 1.3330<\/p>\n


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

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

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EURUSD, H4: <\/strong>EURUSD was traded higher prior its failure to break support level at 1.1780. MACD signal line that shows diminishing bearish momentum would suggest the pair to extend its gains towards the resistance level at 1.1840.<\/p>\n

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Resistance level: 1.1840, 1.1920<\/p>\n

Support level: 1.1780, 1.1680<\/p>\n


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

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USDJPY, H4: <\/strong>USDJPY was traded higher prior rebound from support level at 110.00. However, death-cross as formed by MACD signal line would suggest the pair to undergo short-term technical correction before extending its bullish bias.<\/p>\n

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

Support level: 110.00, 109.70<\/p>\n

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


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

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CrudeOIL, H1: <\/strong>Crude oil price was traded lower prior retracement from resistance level at 71.70. A lack of momentum from candlestick pattern formation would suggest the commodity price to undergo short-term technical correction to trade lower before continuing its bullish bias again.<\/p>\n

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Resistance level: 71.70, 73.60<\/p>\n

Support level: 71.20, 70.60<\/p>\n

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\u00a0<\/strong><\/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 higher after breaking resistance level at 1290.00. However, MACD signal line that is about to form a death-cross would indicate the safe-haven asset price to extend its losses if breakout at the previous high is successful.<\/p>\n

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

Support level: 1290.00, 1285.90<\/p>\n","protected":false},"excerpt":{"rendered":"

17 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   Dollar-bull takes a breather over mixed economic data.   Dollar index was traded lower against a trade-weighted basket of major currencies by 0.09% to 93.15 following a mixed bag of economic data in the region while recent recovery of Euro added selling pressure on the Greenback. Overnight, Greenback received […]<\/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\/28157"}],"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=28157"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28157\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}