{"id":30236,"date":"2018-07-06T01:18:28","date_gmt":"2018-07-06T01:18:28","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=30236"},"modified":"2018-07-06T01:18:28","modified_gmt":"2018-07-06T01:18:28","slug":"060718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/060718-daily-analysis\/","title":{"rendered":"060718 Daily Analysis"},"content":{"rendered":"

6 July 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\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar under pressure as Fed thread cautiously.<\/strong><\/span><\/p>\n

US dollar remained subjected to bearish momentum during North American trading hours while investors digest recent release of FOMC meeting minutes which depicts a rather cautious tone. Majority of the participants noted recent consistency in regional economic growth and deeming it as \u201cvery strong\u201d has cemented investors prospect for further rate hike beyond Federal Reserve\u2019s neutral rate target. However, a handful number of the members expressed their concern over recent trade policy tension which had intensified and may lead to a possible slowdown in global economic growth. Higher uncertainty and risks may garner negative effects on regional business sentiment and investment spending. Otherwise, Euro recovered some losses as recent data shows diminishing downside upon Germany\u2019s economic progression. For the month of May, German Factory Orders grew by 2.6% versus economic forecast of 1.1%. The data has reduced the anxiety among investors following prior series of data which signals possible economic slowdown. As of writing, dollar index was down 0.11% to 94.07 while pair of EUR\/USD notched up 0.02% to $1.1692.<\/p>\n

 <\/p>\n

As for commodities, crude oil price extended its losses by 0.38% to $72.96 per barrel after EIA reported that US crude stockpiles rose by 1.245 million barrels last week, confounding expectation to reduce by 5.200 million barrels. Subsequently, gold price was traded flat around $1,257.68 a troy ounce while market participants anticipate the release of Nonfarm Payrolls report due later tonight.<\/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\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Industrial Production (MoM) (May)<\/td>\n-1.0%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
15:30<\/td>\nGBP \u2013 Halifax House Price Index (MoM) (Jun)<\/td>\n1.5%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Jun)<\/td>\n0.35<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Jun)<\/td>\n223K<\/td>\n220K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unemployment Rate (Jun)<\/td>\n3.8%<\/td>\n3.8%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Employment Change (Jun)<\/td>\n-7.5K<\/td>\n24.0K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Unemployment Rate (Jun)<\/td>\n5.85<\/td>\n5.8%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 Ivey PMI (Jun)<\/td>\n62.5<\/td>\n63.2<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n858<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retrace from the resistance level at 1.3260. MACD histogram which illustrate persistent downward signal suggests further bearish bias. However, a close below 1.3210 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.3260, 1.3310<\/p>\n

Support level: 1.3210, 1.3145<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within an ascending channel following prior rebound from the bottom level. However, both MACD and Stochastic Oscillator which portrays bearish bias suggest the pair to extend its losses after closing below the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 1.1710, 1.1740<\/p>\n

Support level: 1.1680, 1.1630<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remains traded within a tight range that are subjected to 110.55 and 110.75. Due to the lack of signal from MACD and price action, it is suggested to wait for further confirmation before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 110.70, 111.00<\/p>\n

Support level: 110.55, 110.30<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price extended losses following prior breakout at support level of 72.80. Both MA line and MACD histogram which illustrate downward signal suggest the commodity price to advance further down, towards the direction of 72.25.<\/p>\n

 <\/p>\n

Resistance level: 73.80, 73.60<\/p>\n

Support level: 72.25, 71.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from 1257.50. MACD histogram which illustrate bearish signal suggests its prices to extend its losses in short-term, towards the direction of 1254.00.<\/p>\n

 <\/p>\n

Resistance level: 1257.50, 1260.00<\/p>\n

Support level: 1254.00, 1249.15<\/p>\n","protected":false},"excerpt":{"rendered":"

6 July 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\u00a0\u00a0 Daily Analysis   Dollar under pressure as Fed thread cautiously. US dollar remained subjected to bearish momentum during North American trading hours while investors digest recent release of FOMC meeting minutes which depicts a rather cautious tone. Majority of the participants noted recent consistency in regional economic growth and deeming it as […]<\/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\/30236"}],"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=30236"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/30236\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=30236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=30236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=30236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}