{"id":28967,"date":"2018-06-06T01:29:58","date_gmt":"2018-06-06T01:29:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28967"},"modified":"2018-06-06T01:29:58","modified_gmt":"2018-06-06T01:29:58","slug":"060618-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/060618-daily-analysis\/","title":{"rendered":"060618 Daily Analysis"},"content":{"rendered":"

6 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 relinquished as Euro retributes.<\/strong><\/span><\/p>\n

Greenback droops against other major peers on Tuesday following major buyback on the Euro while optimistic US economic data being dismissed by investors. The dollar index extended losses by 0.12% to 93.80 during early Asian trading hours. In the economic front, ISM reported that Non-Manufacturing PMI for the month of May ticks up to 58.6, beating economist forecast of only 57.9. Likewise, job openings in the US rose to a total of 6.7 million in April, exceeding economist expectation for a decrease to 6.5 million. However, the optimistic data failed to safe-guard a bullish rebound following bullish surge in the Euro due to diminished political risk. Major buyback came in after Italian Prime Minister Giuseppe Conte insist that they have never discuss the country\u2019s exit from the EU economic zone, debunking previous speculation for such measures to be pushed forward. Likewise, the single common currency received further bullish support after reports postulate that European Central Bank may reveal their cut-off date to stop asset purchases next week, igniting speculation for an imminent monetary policy tightening up ahead. As such, pair of EUR\/USD rose 0.12% to $1.1724 as of writing.<\/p>\n

 <\/p>\n

Pondering into the commodities market, crude oil price rebounds by 0.11% to $65.55 after American Petroleum Institute reported that US crude inventories was down by 2.03 million barrels last week. Market participants will now keep a close eye on a similar report by the highly regarded Energy Information Administration to gain further market signals. Similarly, gold price rose 0.06% to $1,297.35 a troy ounce as investors initiate a buyback on the commodity due to weaker US dollar.<\/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

N\/A<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 GDP (QoQ) (Q1)<\/td>\n0.4%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Trade Balance (Apr)<\/td>\n-49.00B<\/td>\n-50.00B<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unit Labour Costs (QoQ) (Q1)<\/td>\n2.7%<\/td>\n2.7%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Trade Balance (Apr)<\/td>\n-4.14B<\/td>\n-3.40B<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-3.620M<\/td>\n-1.824M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n0.534M<\/td>\n0.587M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD extended gains following prior rebound from the upward trendline at 1.3300. MACD histogram which has formed an upward signal suggests further bullish bias. However, a breakout from 1.3410 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.3410, 1.3460<\/p>\n

Support level: 1.3360, 1.3300<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within an ascending channel while currently testing at the top level. MACD histogram which illustrate slightly diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1740, 1.1790<\/p>\n

Support level: 1.1705, 1.1650<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remains traded within an ascending channel while currently testing at the mid-level. Both MACD histogram and Stochastic Oscillator which illustrate downward signal may suggests the pair to be traded lower in short-term after closing below the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 110.00, 111.55<\/p>\n

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while recently breakthrough the downward trendline. MACD histogram which illustrate positive divergence signal suggests the commodity price to extend its gains after successfully breaking the resistance level at 65.70.<\/p>\n

 <\/p>\n

Resistance level: 65.70, 67.35<\/p>\n

Support level: 64.10, 63.00<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing near the strong resistance level at 1297.00. MACD histogram which illustrate the formation of golden cross signal suggests gold price to extend its gains in the event of a closure above the target of 1297.00 and 60-MA line (green).<\/p>\n

 <\/p>\n

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

Support level: 1290.00, 1282.10<\/p>\n","protected":false},"excerpt":{"rendered":"

6 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 relinquished as Euro retributes. Greenback droops against other major peers on Tuesday following major buyback on the Euro while optimistic US economic data being dismissed by investors. The dollar index extended losses by 0.12% to 93.80 during early Asian trading hours. In the economic front, ISM reported that […]<\/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\/28967"}],"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=28967"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28967\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}