{"id":29212,"date":"2018-06-12T01:22:51","date_gmt":"2018-06-12T01:22:51","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=29212"},"modified":"2018-06-12T01:22:51","modified_gmt":"2018-06-12T01:22:51","slug":"120618-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120618-daily-analysis\/","title":{"rendered":"120618 Daily Analysis"},"content":{"rendered":"

12 June 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

Market thread cautiously as historic summit in tow.<\/strong><\/span><\/p>\n

US dollar inches higher on yesterday as pound sterling slumped further due to bearish economic outlook as portrayed by the latest major economic release. The dollar index tacks up 0.06% while last quoted around 93.51 during Asian trading hours. Subdued momentum on the greenback came as market participants shifts their attention towards the historic summit between US President Donald Trump and North Korean leader Kim Jong-Un today in Singapore. Both countries will discuss ongoing issues which plague the Korean Peninsula such as calls for denuclearization and possibility to end Korean War officially with a peace treaty. Otherwise, pound sterling slides further after report shows that UK manufacturing output shrank the most for the last six years with -1.4% versus 0.3% seen in April. In addition, sterling receives further bearish pressure as traders reduces their risk exposure on the currency ahead of Brexit Withdrawal Bill vote slated for today and tomorrow. Pair of GBP\/USD was down 0.04% to $1.3375 as of writing.<\/p>\n

 <\/p>\n

As for commodities, crude oil price rose 0.15% to $66.14 per barrel after Iraq warned producers against easing limit on production cuts as global oil prices still require support from the effort. On the other hand, gold price shed its gains by 0.12% to $1,298.68 a troy ounce ahead of widely expected interest rate decision from the Federal Reserve this coming Thursday.<\/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

\u00a0<\/u><\/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

19:20\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0OPEC Monthly Report<\/p>\n

 <\/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
16:30<\/td>\nGBP \u2013 Average Earnings Index +Bonus (Apr)<\/td>\n2.6%<\/td>\n2.5%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Claimant Count Change (May)<\/td>\n31.2K<\/td>\n11.3K<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Unemployment Rate (Apr)<\/td>\n4.2%<\/td>\n4.2%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Jun)<\/td>\n-8.2<\/td>\n-14.6<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core CPI (MoM) (May)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-2.028M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD remains traded within a descending channel while currently testing the lower level. MACD histogram which illustrate death cross formation suggests the pair to extend its losses after breaking the support level at 1.3350.<\/p>\n

 <\/p>\n

Resistance level: 1.3375, 1.3410<\/p>\n

Support level: 1.3350, 1.3320<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout from the bottom level of narrowing triangle. MACD histogram which illustrate downward signal suggests the pair to extend its losses after breaking the strong support at 1.1740.<\/p>\n

 <\/p>\n

Resistance level: 1.1790, 1.1830<\/p>\n

Support level: 1.1740, 1.1705<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remains traded within an ascending channel while recently retraced from the upper level. Stochastic Oscillator which hovers near the overbought region suggests imminent downward bias for short-term. Otherwise, mid-term trend direction still subject to the ascending channel formation.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within an ascending wedge while currently testing near the top level. MACD histogram which illustrate diminishing upward momentum suggests the commodity price to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 66.50, 67.35<\/p>\n

Support level: 65.70, 65.45<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded within a sideways channel following prior retracement from the top level. MACD histogram which begins to form a death cross signal suggests the pair to extend its losses after closing below the 60-MA line (green).<\/p>\n

 <\/p>\n

Resistance level: 1298.70, 1301.30<\/p>\n

Support level: 1294.70, 1292.40<\/p>\n","protected":false},"excerpt":{"rendered":"

12 June 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   Market thread cautiously as historic summit in tow. US dollar inches higher on yesterday as pound sterling slumped further due to bearish economic outlook as portrayed by the latest major economic release. The dollar index tacks up 0.06% while last quoted around 93.51 during Asian trading hours. Subdued momentum […]<\/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\/29212"}],"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=29212"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/29212\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=29212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=29212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=29212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}