{"id":29945,"date":"2018-06-29T01:15:29","date_gmt":"2018-06-29T01:15:29","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=29945"},"modified":"2018-06-29T01:15:29","modified_gmt":"2018-06-29T01:15:29","slug":"290618-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290618-daily-analysis\/","title":{"rendered":"290618 Daily Analysis"},"content":{"rendered":"

29 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

Dollar swings as GDP retreats.<\/strong><\/span><\/p>\n

Greenback seesawed against other major peers on Thursday as market bulls were held back following the release of dovish economic data from the United States. During yesterday\u2019s North American trading hours, Bureau of Economic Analysis reported that the Gross Domestic Product (GDP) for first quarter came in at only 2.0%, missing economist forecast to read at 2.2%. In addition to that, last week\u2019s Initial Jobless Claims rose by 9,000 individuals to 227,000, exceeding economist expectation to come in with only 220,000. However, the downside risk on the US dollar remains limited as Euro pared its earlier gains due to rising political uncertainty within the single economic bloc. During the highly anticipated EU leaders summit, several countries rejected Brussels proposal to implement EU-wide quota system where refugees and asylum seekers will be distributed among member countries to ease the burden. Countries such as Poland and Hungary refused to take part as it may threaten their national sovereignty and security while Italy threatened to block the initiative which has led to an impasse. As of writing, dollar index ticked up 0.05% to 94.94 while pairing of EUR\/USD depreciates by 0.03% to $1.1564.<\/p>\n

 <\/p>\n

As for commodities, crude oil price extended gains by 0.10% to $73.45 per barrel despite US consideration to ease its tough stance against countries that import crude oil from Iran. The commodity remained supported as recent data showed that oil inventories in Oklahoma fell by 3.1 million barrels last week, easing market concern for further escalation in global supply glut. Similarly, gold price rose 0.07% to $1,249.01 a troy ounce following larger buyback after hitting fresh 6-months low on yesterday.<\/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 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 Event<\/strong><\/p>\n

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EU Leaders Summit<\/p>\n

 <\/p>\n


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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\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 Tokyo Core CPI (YoY) (Jun)<\/td>\n0.5%<\/td>\n0.6%<\/td>\n0.7%<\/td>\n<\/tr>\n
07:50<\/td>\nJPY \u2013 Industrial Production (MoM) (May)<\/td>\n0.5%<\/td>\n-1.1%<\/td>\n-0.2%<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Retail Sales (MoM) (May)<\/td>\n2.3%<\/td>\n-0.5%<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Change (Jun)<\/td>\n-11K<\/td>\n-8K<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Rate (Jun)<\/td>\n5.2%<\/td>\n5.2%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 GDP (QoQ) (Q1)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Jun)<\/td>\n1.9%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core PCE Price (Index (YoY) (May)<\/td>\n1.8%<\/td>\n1.9%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Income (MoM) (May)<\/td>\n0.3%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Spending (MoM) (May)<\/td>\n0.6%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Apr)<\/td>\n0.3%<\/td>\n0.0%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Jun)<\/td>\n99.3<\/td>\n99.1<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n862<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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


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

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

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3050. MACD histogram which illustrate upside signal suggests the pair to extend its gains in short-term as technical correction in the event of a closure above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 1.3100, 1.3155<\/p>\n

Support level: 1.3050, 1.3010<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher after regaining its support at 1.1550. MACD histogram which begins to form a golden cross signal suggest the pair to extend its gains in short-term and retest near the downward trendline.<\/p>\n

 <\/p>\n

Resistance level: 1.1590, 1.1640<\/p>\n

Support level: 1.1550, 1.1515<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY extended gains following prior breakout from the top level of descending channel. However, recent retracement from the resistance of 110.55 may suggest the pair to be traded lower in short-term as technical correction before extending its bullish bias.<\/p>\n

 <\/p>\n

Resistance level: 110.55, 110.90<\/p>\n

Support level: 110.25, 109.80<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from its highest level in six months. MACD histogram which begins to form bearish signal may suggest the commodity price to be traded lower in short-term as technical correction before continuing its major bullish bias.<\/p>\n

 <\/p>\n

Resistance level: 74.90, 76.10<\/p>\n

Support level: 72.80, 71.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following a retrace prior to the resistance level at 1250.00. Recent price action suggests the pair to extend its losses, in tandem with the current bearish trendline towards the direction of 1245.70.<\/p>\n

 <\/p>\n

Resistance level: 1250.00, 1254.00<\/p>\n

Support level: 1245.70, 1241.00<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

29 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   Dollar swings as GDP retreats. Greenback seesawed against other major peers on Thursday as market bulls were held back following the release of dovish economic data from the United States. During yesterday\u2019s North American trading hours, Bureau of Economic Analysis reported that the Gross Domestic Product (GDP) for first […]<\/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\/29945"}],"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=29945"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/29945\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=29945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=29945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=29945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}