{"id":30864,"date":"2018-07-20T01:11:20","date_gmt":"2018-07-20T01:11:20","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=30864"},"modified":"2018-07-20T01:11:20","modified_gmt":"2018-07-20T01:11:20","slug":"200718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200718-daily-analysis\/","title":{"rendered":"200718 Daily Analysis"},"content":{"rendered":"

20 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 deviates amid Trump\u2019s criticism.<\/strong><\/span><\/p>\n

US dollar pared its gains during North American trading hours after US President Donald Trump commented that he is not \u201chappy\u201d about Federal Reserve tightening their monetary policy. The dollar index tumbled down 0.43% to 94.92 against a basket of six major peers. During an interview with the CNBC on Thursday, Trump expressed that the is not happy about interest rate increases, claiming that \u201chigher rates may put us (United States) at a disadvantage\u201d. However, Trump added that he would let the \u201cFed to do what they feel best\u201d. Pessimistic comments from Trump scaled back investors expectation for a faster pace of rate hike following hawkish call from Fed Chair Jerome Powell that the best option for the central bank is to gradually raising interest rates. Overall, downside on the dollar remains limited following optimistic economic report from yesterday. According to US Department of Labor, Initial Jobless Claims fell 8,000 to a total of 207,000 for last week, confounding economist forecast for a reading of 220,000. Likewise, Philadelphia Fed reported that its manufacturing index rose to 25.7 for the month of July, exceeding forecast of an increase to 21.6.<\/p>\n

 <\/p>\n

As for commodities, crude oil price pared some losses by 0.07% to $69.47 per barrel following report which shows that Saudi Arabia exports may fall short in August, renewing expectations for a global shortage in crude supplies. On the other hand, gold price ticked up 0.01% to $1,222.97 a troy ounce while investors continue to monitor US major economic release to gauge future rate hike stance.<\/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

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0OPEC Meeting<\/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
07:30<\/td>\nJPY \u2013 National Core CPI (YoY) (Jun)<\/td>\n0.7%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German PPI (MoM) (Jun)<\/td>\n0.5%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core CPI (MoM) (Jun)<\/td>\n-0.1%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (May)<\/td>\n-0.1%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n863<\/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 remains traded within a descending channel while currently testing at the top level. Although MACD and Stochastic Oscillator illustrate bullish signal, a break above is required to attain further verification.<\/p>\n

 <\/p>\n

Resistance level: 1.3070, 1.3130<\/p>\n

Support level: 1.3000, 1.2900<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD remains traded within a descending wedge following prior rebound from the bottom level. MACD histogram which illustrate bullish signal suggests the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 1.1680, 1.1720<\/p>\n

Support level: 1.1645, 1.1590<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior breakout from the bottom level of ascending channel. However, MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 112.55, 112.80<\/p>\n

Support level: 112.25, 111.85<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price extended gains following prior rebound from the strong support at 66.55. MACD which illustrate persistent upward signal suggests the commodity price to advance further up after breaking the resistance near 68.40.<\/p>\n

 <\/p>\n

Resistance level: 68.40, 69.30<\/p>\n

Support level: 67.90, 66.55<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retrace from the downward trendline. MACD which illustrate diminishing upward momentum suggests the commodity price to extend its losses after closing below 1222.00.<\/p>\n

 <\/p>\n

Resistance level: 1226.50, 1233.70<\/p>\n

Support level: 1222.00, 1216.00<\/p>\n","protected":false},"excerpt":{"rendered":"

20 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 deviates amid Trump\u2019s criticism. US dollar pared its gains during North American trading hours after US President Donald Trump commented that he is not \u201chappy\u201d about Federal Reserve tightening their monetary policy. The dollar index tumbled down 0.43% to 94.92 against a basket of six major peers. During […]<\/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\/30864"}],"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=30864"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/30864\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=30864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=30864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=30864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}