{"id":30351,"date":"2018-07-10T01:18:22","date_gmt":"2018-07-10T01:18:22","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=30351"},"modified":"2018-07-10T02:20:00","modified_gmt":"2018-07-10T02:20:00","slug":"100718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100718-daily-analysis\/","title":{"rendered":"100718 Daily Analysis"},"content":{"rendered":"

10 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 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar turns positive as Brexit woes continues.<\/strong><\/span><\/p>\n

US dollar rebounds sharply on yesterday following heightened political risk from Britain after Foreign Secretary Boris Johnson resigned from his position. Bear market took over pound sterling soon after Johnson announced his decision to resign due to Britain\u2019s Prime Minister Theresa May\u2019s Brexit plans which has raised the prospect for a vote of no confidence against her leadership. However, analysts postulate that it is fairly unlikely for members of Parliament to do so as there were no signs of majority in Conservative Party that would turn against May for now. Johnson resignation came a day after UK Brexit Secretary David Davis tendered his resignation as he claimed May\u2019s Brexit plan to be too \u201cdangerous\u201d. Nonetheless, sterling managed to pared some of its losses as recent series of strong economic data has cemented market\u2019s expectation for an imminent interest rate hike from the Bank of England in August. As of writing, the dollar index was quoted up 0.04% to 93.74 while pairing of GBP\/USD tumbled 0.05% to $1.3252.<\/p>\n

 <\/p>\n

As for commodities, crude oil price settled lower by 0.05% to $73.93 per barrel after investors booked their profit near the psychological level of $74.00. On the other hand, gold price ticked up 0.05% to $1,258.32 a troy ounce following heightened political risk in the UK.<\/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 Events<\/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 Events<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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
09:30<\/td>\nCNY \u2013 CPI (YoY) (Jun)<\/td>\n1.8%<\/td>\n1.9%<\/td>\n–<\/td>\n<\/tr>\n
09:30<\/td>\nCNY \u2013 PPI (YoY) (Jun)<\/td>\n4.1%<\/td>\n4.5%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (May)<\/td>\n-1.4%<\/td>\n0.9%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 GDP (Tentative)<\/td>\n*<\/td>\n*<\/td>\n*<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Jul)<\/td>\n-16.1<\/td>\n-18.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (May)<\/td>\n6.698M<\/td>\n6.583M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-4.500M<\/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 was traded higher following prior rebound while currently testing at the resistance level of 1.3260. MACD histogram which illustrate diminishing downward momentum suggests the pair to extend its gains after closing above 1.3260.<\/p>\n

 <\/p>\n

Resistance level: 1.3260, 1.3305<\/p>\n

Support level: 1.3140, 1.3210<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level of 1.1740. MACD histogram which illustrate diminishing downward momentum suggest the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 1.1780, 1.1820<\/p>\n

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended gains following prior closure above the threshold of 110.70. Although MACD histogram begins to form a bullish crossover, the pair is required to close above the strong resistance of 111.00 in order to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 111.00, 111.35<\/p>\n

Support level: 110.70, 110.55<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within a descending channel following prior retracement from the top level. MACD which has formed a bullish signal suggest the commodity price to extend its gains after breaking the top level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 74.30, 74.90<\/p>\n

Support level: 73.85, 73.55<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price extended its bullish bias following prior rebound from the 60-MA line (green). MACD histogram which illustrate diminishing downward momentum suggests the commodity price to edge further up after breaking the resistance level near 1259.00.<\/p>\n

 <\/p>\n

Resistance level: 1259.00, 1264.60<\/p>\n

Support level: 1255.10, 1251.15<\/p>\n","protected":false},"excerpt":{"rendered":"

10 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 Daily Analysis   Dollar turns positive as Brexit woes continues. US dollar rebounds sharply on yesterday following heightened political risk from Britain after Foreign Secretary Boris Johnson resigned from his position. Bear market took over pound sterling soon after Johnson announced his decision to resign due to Britain\u2019s Prime Minister Theresa May\u2019s […]<\/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\/30351"}],"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=30351"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/30351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=30351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=30351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=30351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}