{"id":30677,"date":"2018-07-17T01:17:01","date_gmt":"2018-07-17T01:17:01","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=30677"},"modified":"2018-07-17T01:17:01","modified_gmt":"2018-07-17T01:17:01","slug":"170718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170718-daily-analysis\/","title":{"rendered":"170718 Daily Analysis"},"content":{"rendered":"

17 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

Low-spirited dollar awaits Powell\u2019s speech.<\/strong><\/span><\/p>\n

Greenback extended its losses on yesterday while US economic data that are in line with economist forecast did little to cap its bearish momentum. The dollar index was down 0.25% to 94.20 during early Asian trading session. According to US Commerce Department, Core Retail Sales for the month of June came in within economist expectation with 0.4% while the reading for the month of May was revised higher to 1.3%. On the other hand, although Empire State Manufacturing Index fell by 2.4 points, its reading was well above economist forecast of 22.00 with 22.60 for the month of July. However, dollar bulls remained subdued since the start of the week as they await further clues on US monetary policy when Federal Reserve Chair Jerome Powell testifies before the US Senate Banking Committee later tonight. Otherwise, pair of GBP\/USD tacks up 0.01% to $1.3235 ahead of a series of data bound to be released within this week. Investors will place their attention on major economic release from Britain to gauge the prospect of an August interest rate hike from the Bank of England.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price settled down more than 4% to $66.95 per barrel after Iraq crude exports reportedly rose 6% to 4.05 million barrels per day in the first half of July. Otherwise, gold price threaded lower by 0.03% to $1,240.61 a troy ounce while investors place their attention over the imminent speech by Fed Chair Jerome Powell scheduled 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

09:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBA Meeting Minutes<\/p>\n

16:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE Gov Carney Speaks<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Fed Chair Powell Testifies<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
06:45<\/td>\nNZD \u2013 GDP (QoQ) (Q2)<\/td>\n0.5%<\/td>\n0.5%<\/td>\n0.4%<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Average Earnings Index +Bonus (May)<\/td>\n2.5%<\/td>\n2.5%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Claimant Count Change (Jun)<\/td>\n-7.7K<\/td>\n2.3K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Manufacturing Sales (MoM) (May)<\/td>\n-1.3%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nUSD \u2013 Industrial Production (MoM) (Jun)<\/td>\n-0.1%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-6.796M<\/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 retracement from the resistance level at 1.3280. However, MACD histogram which illustrate bearish signal suggests the pair to extend its losses after closing below the 60-MA line (green).<\/p>\n

 <\/p>\n

Resistance level: 1.3235, 1.3280<\/p>\n

Support level: 1.3200, 1.3165<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1725. MACD histogram which begins to form a bearish signal suggests the pair to extend its losses after closing below the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 1.1725, 1.1760<\/p>\n

Support level: 1.1690, 1.1660<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the bottom level of the range near 112.10. MACD histogram which illustrate bullish signal suggests the pair to be traded higher in short-term. Otherwise, long-term trend direction can only be determined following a successful breakout from either side of the range.<\/p>\n

 <\/p>\n

Resistance level: 112.60, 113.25<\/p>\n

Support level: 112.10, 111.65<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price extended its losses following prior breakout from the support level near 67.90. However, MACD histogram which illustrate diminishing downward momentum suggests the commodity price to be traded higher in short-term as technical correction before extending its losses.<\/p>\n

 <\/p>\n

Resistance level: 67.90, 69.30<\/p>\n

Support level: 65.90, 64.70<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded within a descending triangle while recently retraced from the mid-level. Stochastic Oscillator which illustrate a retracement signal from the overbought regions suggests gold price to be traded lower. However, a break below 1238.40 is required to validate such bias.<\/p>\n

 <\/p>\n

Resistance level: 1242.20, 1248.20<\/p>\n

Support level: 1238.40, 1233.70<\/p>\n","protected":false},"excerpt":{"rendered":"

17 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   Low-spirited dollar awaits Powell\u2019s speech. Greenback extended its losses on yesterday while US economic data that are in line with economist forecast did little to cap its bearish momentum. The dollar index was down 0.25% to 94.20 during early Asian trading session. According to US Commerce Department, Core Retail […]<\/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\/30677"}],"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=30677"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/30677\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=30677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=30677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=30677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}