{"id":28910,"date":"2018-06-05T01:27:30","date_gmt":"2018-06-05T01:27:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28910"},"modified":"2018-06-05T01:27:30","modified_gmt":"2018-06-05T01:27:30","slug":"050618-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050618-daily-analysis\/","title":{"rendered":"050618 Daily Analysis"},"content":{"rendered":"

5 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

 <\/p>\n

Greenback stages its rebound as Italy stirs up politics.<\/strong><\/span><\/p>\n

US dollar pared its losses against other major currencies on yesterday over the backdrop of positive economic data while investors monitor imminent political risk arise from the formation of new government in Italy. The dollar index which measures its strength against a basket of six major currencies added up 0.04% to 93.96 during early Asian trading hours. Overnight, greenback rebounds from its prior one-week low after US Commerce Department reported that Non-Defense Capital Shipments rose 0.9% last month, beating economist expectation for a rise of up to 0.8%. However, gains on the currency were capped after Durable Goods Orders fell in line with economist forecast with a reading of -1.6% for last month. On the other hand, pairing of EUR\/USD retreats from its one-week high, down 0.02% to $1.1698. The single common currency received a bearish blow since few weeks ago following higher political risk within the economic zone. Although administration crisis in Italy has been resolved since last Friday with the swearing in of new government formed by 5-Star Movement and League, both parties remained as anti-EU and may have clashes with Brussels in the long-run. For the time being, investors will anticipate parliamentary approval for 18-members of cabinet before setting out to overhaul EU rules and establish their policy.<\/p>\n

 <\/p>\n

For the commodities market, crude oil price backtracks its losses by 0.25% to $65.00 per barrel while gains remain limited as market prospect soured due to OPEC\u2019s suggestion to ramp up daily production in order to offset diminished supplies from Iran and Venezuela. On the contrary, gold price was down 0.03% to $1,292.07 a troy ounce as US Federal Reserve is expected to hike their interest rate next week which could lead to diminishing appeal of the safe-haven asset.<\/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\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

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 RBA Rate Statement<\/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
07:30<\/td>\nJPY \u2013 Household Spending (YoY) (Apr)<\/td>\n-0.7%<\/td>\n0.8%<\/td>\n-1.3%<\/td>\n<\/tr>\n
09:45<\/td>\nCNY \u2013 Caixin Services PMI (May)<\/td>\n52.9<\/td>\n52.9<\/td>\n–<\/td>\n<\/tr>\n
12:30<\/td>\nAUD \u2013 RBA Interest Rate Decision (Jun)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Services PMI (May)<\/td>\n52.1<\/td>\n52.1<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (May)<\/td>\n52.8<\/td>\n52.9<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing Employment (May)<\/td>\n53.6<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (May)<\/td>\n56.8<\/td>\n57.9<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Apr)<\/td>\n6.550M<\/td>\n6.490M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n1.001M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement and closure below the 60-MA line (green). Both MA lines which continues to narrow downwards suggests the pair to extend its losses towards the target at 1.3300.<\/p>\n

 <\/p>\n

Resistance level: 1.3360, 1.3410<\/p>\n

Support level: 1.3300, 1.3260<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within an ascending wedge while currently testing at the lower level. Both MACD histogram and Stochastic Oscillator which illustrate downward signal suggests bearish bias. Thus, a successful breakout from the bottom level would provide further validation.<\/p>\n

 <\/p>\n

Resistance level: 1.1740, 1.1815<\/p>\n

Support level: 1.1650, 1.1600<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended gains following prior rebound from the support level at 109.40. Both MACD histogram and MA lines suggests further bullish bias for the pair. However, a close above the resistance level at 110.00 is required to attain further validation.<\/p>\n

 <\/p>\n

Resistance level: 110.00, 110.55<\/p>\n

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price extended its losses following prior breakout from the upward trendline. MACD histogram which continues to illustrate persistent downward signal suggests the pair to extend its bearish bias and move towards the direction of support level near 64.10.<\/p>\n

 <\/p>\n

Resistance level: 65.70, 67.30<\/p>\n

Support level: 64.10, 61.80<\/p>\n

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 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded within a sideways channel while currently testing at the bottom level. MACD histogram which illustrate downward signal suggests further bearish bias. However, a breakout from 1290.00 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1297.00, 1301.20<\/p>\n

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

5 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 stages its rebound as Italy stirs up politics. US dollar pared its losses against other major currencies on yesterday over the backdrop of positive economic data while investors monitor imminent political risk arise from the formation of new government in Italy. The dollar index which measures its strength […]<\/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\/28910"}],"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=28910"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28910\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}