{"id":29030,"date":"2018-06-07T01:31:30","date_gmt":"2018-06-07T01:31:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=29030"},"modified":"2018-06-07T01:31:30","modified_gmt":"2018-06-07T01:31:30","slug":"070618-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/070618-daily-analysis\/","title":{"rendered":"070618 Daily Analysis"},"content":{"rendered":"

7 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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Dollar squandered as economic data softens.<\/strong><\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>Greenback depreciates sharply against its other major peers on yesterday over-the-backdrop of softer regional economic data while Euro extend its gains following hawkish comments from central bank members. The dollar index tumbled down 0.10% while last seen around 93.55 during early Asian trading session. According to US Bureau of Labor Statistics, regional worker productivity rose slower than economist\u2019s expectation for the first quarter, coming in with a reading of 0.4% versus consensus of 0.7%. The bearish reading has diminished some bullish sentiment towards a stronger labor market in the long-run following optimistic jobs report from last Friday. In addition, the US dollar was held back further after European Central Bank (ECB) policymakers signaled to tighten their monetary policy sooner than later on yesterday. ECB chief economist Peter Praet postulate that ECB will debate whether to scale back their bond purchases gradually during their meeting next week. In addition, Euro received further buyback following diminished political uncertainty in Italy. Pairing of EUR\/USD extended gains by 0.08% to $1.1784 as of writing.<\/p>\n

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Looking into the commodities market, crude oil price pared its losses by 0.25% to $65.12 per barrel after tumbling down on yesterday due to bearish US stockpiles data. According to Energy Information Administration, US crude stocks swelled up by 2.07 million barrels last week, missing economist expectation to reduce by 2.00 million barrels. On the other hand, gold price rose by 0.04% to $1,297.17 a troy ounce due to weaker dollar.<\/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\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

23:15\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BoC Gov Poloz Speaks<\/p>\n

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

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

Todays\u2019 Highlight Economy Data<\/u><\/p>\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 Trade Balance (Apr)<\/td>\n1.527B<\/td>\n0.980B<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Factory Orders (MoM) (Apr)<\/td>\n-0.9%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n
15:30<\/td>\nGBP \u2013 Halifax House Price Index (MoM) (Apr)<\/td>\n-3.1%<\/td>\n1.1%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 GDP (QoQ) (Q1)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n221K<\/td>\n223K<\/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 following prior rebound from the support level at 1.3410. Both MA line which continues to expand upwards suggests the pair to continue its bullish bias, towards the direction of 1.3460.<\/p>\n

 <\/p>\n

Resistance level: 1.3460, 1.3530<\/p>\n

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD extended gains after regaining some support near the threshold of 1.1650. MACD histogram which continues to illustrate bullish signal suggests the pair to extend its gains after breaking the resistance level at 1.1790.<\/p>\n

 <\/p>\n

Resistance level: 1.1790, 1.1865<\/p>\n

Support level: 1.1740, 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 following recent retrace from the top level. MACD histogram which has formed a death cross signal suggests the pair to be traded lower in short-term in the event of a closure below the 20-MA line (red).<\/p>\n

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Resistance level: 110.55, 111.00<\/p>\n

Support level: 110.00, 109.40<\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within a tight range following prior retracement from the top level. Stochastic Oscillator which begin to form a retracement signal from the overbought region suggests the commodity price to be traded lower in short-term, towards the lower level of the range.<\/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 lower following prior retracement from the resistance level of 1301.20. Diminishing upward momentum from the MACD histogram suggests the pair to extend its losses after closing below the 20-MA line (red).<\/p>\n

 <\/p>\n

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

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

7 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   Dollar squandered as economic data softens. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Greenback depreciates sharply against its other major peers on yesterday over-the-backdrop of softer regional economic data while Euro extend its gains following hawkish comments from central bank members. The dollar index tumbled down 0.10% while last seen around 93.55 during early Asian […]<\/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\/29030"}],"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=29030"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/29030\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=29030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=29030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=29030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}