{"id":28670,"date":"2018-05-30T01:04:12","date_gmt":"2018-05-30T01:04:12","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28670"},"modified":"2018-05-30T01:04:12","modified_gmt":"2018-05-30T01:04:12","slug":"300518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300518-daily-analysis\/","title":{"rendered":"300518 Daily Analysis"},"content":{"rendered":"

30 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

 <\/p>\n

Dollar stands tall as EU-risk demoralize investors.<\/strong><\/span><\/p>\n

Greenback extended gains to fresh 6-months high against its major peers following high volume of selloff explicitly on the Euro over the backdrop of rising political uncertainty. During the Asian trading session, the dollar index rose 0.46% while last quotes around 94.75. Prior, Italy faces imminent calls for election after two anti-establishment party abandoned their plans to form a coalition government. Snap election could deliver a blow to the EU as the outcome would have chances to form a Eurosceptic government that could challenge Italy\u2019s membership in the integrated economic region. As such, investors dialed down their volume of investment\u2019s in the EU particularly Italian\u2019s assets while flocking towards assets which is denominated in the US dollar. However, gains on the greenback remained capped after Conference Board revealed that consumer confidence in the US rose to only 128.0 versus forecast of 128.2 for the month of May. For the time being, investors will place their attention on major economic releases from the US such as ADP, PCE and NFP report to gauge its economic growth momentum and future monetary policy stance.<\/p>\n

 <\/p>\n

Peering into the commodities market, crude oil price ticked down 0.06% to $66.78 during early Asian trading session as investors fret over OPEC\u2019s pledge to increase production to offset imminent supply shortage from Venezuela and Iran. On the contrary, gold price extended gains by 0.12% to $1,300.07 a troy ounce following mild risk aversion in the market due to political risk in the EU region.<\/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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

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

09:10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 RBNZ Gov Orr Speaks<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BoC Rate Statement<\/p>\n

 <\/p>\n


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

\u00a0<\/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
09:30<\/td>\nAUD \u2013 Building Approvals (MoM) (Apr)<\/td>\n2.6%<\/td>\n-3.0%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Retail Sales (MoM) (Apr)<\/td>\n-0.6%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German Unemployment Change (May)<\/td>\n-7K<\/td>\n-10K<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German Unemployment Rate (May)<\/td>\n5.3%<\/td>\n5.3%<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (May)<\/td>\n204K<\/td>\n190K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q1)<\/td>\n2.35<\/td>\n2.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP Price Index (QoQ) (Q1)<\/td>\n2.0%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 RMPI (MoM) (Apr)<\/td>\n2.1%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n1.25%<\/td>\n1.25%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-1.300M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD extended its losses following prior breakout from the support level at 1.3300. However, MACD histogram which illustrate diminishing downward momentum may suggests the pair to be traded higher in short-term as technical correction before continuing its major bearish bias thereafter.<\/p>\n

 <\/p>\n

Resistance level: 1.3300, 1.3400<\/p>\n

Support level: 1.3220, 1.3140<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remained traded within a mini descending wedge following prior retracement from the upper level. Recent formation of retrace signal prior to the overbought region suggests the pair to be traded lower in short-term, towards the lower level of the formation.<\/p>\n

 <\/p>\n

Resistance level: 1.1600, 1.1665<\/p>\n

Support level: 1.1500, 1.1450<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended its losses following prior closure below the strong support level at 108.85. MACD histogram which illustrate persistent downward signal suggests the pair to extend its losses after breaking the support level near 108.30.<\/p>\n

 <\/p>\n

Resistance level: 108.85, 109.40<\/p>\n

Support level: 108.30, 107.50<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within a sideways channel following prior retracement from the top level. Stochastic Oscillator which illustrate retrace signal from the overbought regions suggests the commodity price to be traded lower in short-term after closing below the 20-MA line (red). Otherwise, long-term trend direction could only be determined following a successful breakout from either side of the channel.<\/p>\n

 <\/p>\n

Resistance level: 67.40, 68.30<\/p>\n

Support level: 65.75, 64.05<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded within a narrowing triangle while currently testing at the top level. Due to the lack of clarity from MACD histogram and price action, it is suggested to enter the market after a successful breakout has occur from either side of the triangle.<\/p>\n

 <\/p>\n

Resistance level: 1308.00, 1314.95<\/p>\n

Support level: 1300.00, 1296.00<\/p>\n","protected":false},"excerpt":{"rendered":"

30 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 stands tall as EU-risk demoralize investors. Greenback extended gains to fresh 6-months high against its major peers following high volume of selloff explicitly on the Euro over the backdrop of rising political uncertainty. During the Asian trading session, the dollar index rose 0.46% while last quotes around 94.75. […]<\/p>\n","protected":false},"author":25,"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\/28670"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=28670"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28670\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}