{"id":30743,"date":"2018-07-18T01:17:26","date_gmt":"2018-07-18T01:17:26","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=30743"},"modified":"2018-07-18T01:17:26","modified_gmt":"2018-07-18T01:17:26","slug":"180718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180718-daily-analysis\/","title":{"rendered":"180718 Daily Analysis"},"content":{"rendered":"

18 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

Powell unwinds dollar-bears with hawkish rhetoric.<\/strong><\/span><\/p>\n

Dollar-bulls invigorates during North American trading session on yesterday after Federal Reserve Chair Jerome Powell gave lawmakers a rather optimistic assessment with regards to US economy and expecting to follow through their plans to raise interest rates gradually. The dollar index was quoted up 0.50%, last seen around 94.68 during early Asian trading hours. During his semi-annual testimony to the Congress, Powell postulate that the \u201cbest way forward\u201d is to continue raising interest rates as job market continues to strengthen while inflation moved above Fed\u2019s target of 2%. Likewise, Powell also echoed Fed\u2019s recent comment in meeting minutes, hinting two more interest hike for second half of the year. For now, investors will place their attention upon Powell\u2019s testimony before the House Financial Services Committee tonight which may offer further clues with regards to future monetary policy. In the other region, pair of GBP\/USD slipped 0.03% to $1.3106 as Prime Minister Theresa May\u2019s Brexit bill may face another challenge in the Parliament.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price tacks up 0.18% to $67.75 per barrel following higher speculation among investors that tonight\u2019s US crude oil inventories report may show yet another weekly draw. On the other hand, gold price stumbled down 0.95% to $1,227.37 a troy ounce following hawkish rhetoric from Fed Chair Jerome Powell.<\/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

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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Testifies<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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 CPI (YoY) (Jun)<\/td>\n2.4%<\/td>\n2.6%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Jun)<\/td>\n2.0%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Jun)<\/td>\n1.301M<\/td>\n1.330M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-12.633M<\/td>\n-3.622M<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Gasoline Inventories<\/td>\n-0.694M<\/td>\n-0.044M<\/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 extended its losses following prior breakout from the support level of 1.3130. However, MACD histogram which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction before continuing its bearish trend.<\/p>\n

 <\/p>\n

Resistance level: 1.3130, 1.3180<\/p>\n

Support level: 1.3070, 1.3000<\/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 support level of 1.1680. However, MACD histogram which illustrate diminishing downward momentum may suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1680, 1.1715<\/p>\n

Support level: 1.1645, 1.1620<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY extended its gains following prior breakout from the strong resistance near 112.60. MACD histogram which begins to form a bullish crossover suggests the pair to extend its gains, towards the direction of resistance level at 113.25.<\/p>\n

 <\/p>\n

Resistance level: 113.25, 114.15<\/p>\n

Support level: 112.60, 112.10<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded in a consolidation phase following prior breakout from the support level of 67.90. As MACD histogram has begins to form a bullish crossover, the commodity price may be traded higher in short-term as technical correction before extending its major bearish trending.<\/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 was traded lower following prior breakout from the bottom level of sideways channel. 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 bearish trending.<\/p>\n

 <\/p>\n

Resistance level: 1233.70, 1238.40<\/p>\n

Support level: 1226.50, 1220.20<\/p>\n","protected":false},"excerpt":{"rendered":"

18 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   Powell unwinds dollar-bears with hawkish rhetoric. Dollar-bulls invigorates during North American trading session on yesterday after Federal Reserve Chair Jerome Powell gave lawmakers a rather optimistic assessment with regards to US economy and expecting to follow through their plans to raise interest rates gradually. The dollar index was quoted […]<\/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\/30743"}],"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=30743"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/30743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=30743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=30743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=30743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}