{"id":28787,"date":"2018-06-01T01:01:34","date_gmt":"2018-06-01T01:01:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28787"},"modified":"2018-06-01T01:01:34","modified_gmt":"2018-06-01T01:01:34","slug":"010618-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010618-daily-analysis\/","title":{"rendered":"010618 Daily Analysis"},"content":{"rendered":"

1 June 2018\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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Greenback rebounds over robust fundamentals.\u00a0<\/strong><\/span><\/p>\n

Greenback rebounds from its session low during North American trading hours following optimistic economic data from the region and a retreat in Euro despite diminishing political risk in the region. The dollar index was quoted up 0.02% to 93.90 during early Asian trading session. Overnight, Federal Reserve\u2019s preferred inflation measure \u2013 Core PCE Price Index rose more than expected with 0.2%, beating economist forecast of only 0.1% for month-over-month comparison in April. In terms of jobs market, US Department of Labour reported a drop in Initial Jobless Claims last week, down by 13,000 individuals to a seasonally adjusted total of 221,000. Both data came helped the greenback to recover some losses after it received tremendous bearish bias following a rise in Euro and weaker-than-expected first quarter GDP reading. On the other hand, pair of EUR\/USD was down 0.02% to $1.1690 while investors place their sole attention over political turmoil in Spain. Spain Prime Minister Mariano Rajoy is expected to face the no-confidence vote scheduled to take place later today after being called to step down following multiple graft allegation.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price settled down by 0.07% to $66.98 per barrel despite massive draw in US crude supplies as US oil output continued its expansion by rising 215,000 barrels per day (bpd) to 10.47 million bpd in March. Otherwise, gold price rose 0.03% to $1,298.47 a troy ounce as investors monitor ongoing geopolitical tension around the globe.<\/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

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

08:30\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 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Member Kaplan Speaks<\/p>\n

20:55\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 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Member Kashkari Speaks<\/p>\n

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\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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
09:45<\/td>\nCNY \u2013 Caixin Manufacturing PMI (May)<\/td>\n51.1<\/td>\n51.3<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (May)<\/td>\n56.8<\/td>\n56.8<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (May)<\/td>\n53.9<\/td>\n53.5<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (May)<\/td>\n0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (May)<\/td>\n164K<\/td>\n189K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unemployment Rate (May)<\/td>\n3.9%<\/td>\n3.9%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (May)<\/td>\n57.3<\/td>\n58.2<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (May)<\/td>\n54.2<\/td>\n54.5<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n844<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior breakout from the mini upward trendline. MACD histogram which begins to illustrate increasing downward momentum suggests the pair to extend its losses after closing below the 60-MA line (green).<\/p>\n

 <\/p>\n

Resistance level: 1.3300, 1.3345<\/p>\n

Support level: 1.3260, 1.3220<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement and closure below the target of 1.1700. MACD histogram which illustrate diminishing upward momentum may suggests the pair to be traded lower in short-term after a bearish retrace from the 60-MA line (green).<\/p>\n

 <\/p>\n

Resistance level: 1.1700, 1.1750<\/p>\n

Support level: 1.1600, 1.1500<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher after receiving some support from the threshold at 108.30. MACD histogram which illustrate persistent upward signal suggest the pair to extend its gains after breaking the resistance level at 108.85.<\/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, H4: <\/strong>Crude oil price extended losses following prior retracement from the resistance level at 68.30. MACD histogram which illustrate diminished upward momentum suggests the commodity price to extend its losses towards the direction of 65.75.<\/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_, H4: <\/strong>Gold price remains traded within a sideways channel while currently testing at the bottom level. MACD histogram which illustrate the formation of death cross suggests further bearish bias. However, a close below the support level at 1297.00 is required to attain further validation.<\/p>\n

 <\/p>\n

Resistance level: 1301.20, 1306.00<\/p>\n

Support level: 1297.00, 1290.00<\/p>\n","protected":false},"excerpt":{"rendered":"

1 June 2018\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   Greenback rebounds over robust fundamentals.\u00a0 Greenback rebounds from its session low during North American trading hours following optimistic economic data from the region and a retreat in Euro despite diminishing political risk in the region. The dollar index was quoted up 0.02% to 93.90 during early Asian trading session. […]<\/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\/28787"}],"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=28787"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28787\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}