23 June 2021 Afternoon Session Analysis
Pound rose amid comments from U.K Health Secretary.
The pound sterling which traded against the dollar and other currency pairs have rose following a positive comment from U.K Department of Health. According to reports, U.K Health Secretary Matt Hancock stated that the Covid-19 data are looking positive for lifting lockdown restriction on 19 July. This comes after Prime Minister Boris Johnson stated that it was looking good for the final lifting of lockdown next month. As a result, market remains optimistic about the U.K economy despite with the delay in easing restrictions. On top of that, the pound also was also further boosted by the latest U.K factory data from CBI that show output have rose at its fastest pace since July 1975. CBI also predict that the economy will return to pre-Covid levels by the end of the year. At the time of writing, GBP/USD rose 0.02% to 1.3928.
In the commodities market, crude oil price rose 0.12% to $73.55 per barrel at the time of writing following expectation of fuel consumption recovery. According to data, key energy markets including the U.S. and China have seen a strong rebound from Covid-19, boosting fuel consumption and helping to drain bloated inventories built up during the pandemic. On the other hand, gold price edge fell 0.06% to $1781.21 a troy ounce at the time of writing following dollar rebound.
Today’s Holiday Market Close
Time Market Event
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Today’s Highlight Events
Time Market Event
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Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 15:30 | EUR – German Manufacturing PMI (Jun) | 63.0 | 64.4 | – |
| 16:30 | GBP – Manufacturing PMI | 65.6 | – | – |
| 16:30 | GBP – Services PMI | 62.9 | – | – |
| 20:30 | CAD – Core Retail Sales (MoM) (Apr) | -5.0% | 4.3% | – |
| 22:00 | USD – New Home Sales (May) | 870K | 863K | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -7.355M | -3.942M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level 91.75. MACD which illustrate diminishing bearish momentum signals suggest the dollar to extend its rebound towards the resistance level 92.25.
Resistance level: 92.25, 92.70
Support level: 91.75, 91.30
GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level 1.3935. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 1.3830.
Resistance level: 1.3935, 1.4020
Support level: 1.3830, 1.3755
EURUSD, H4: EURUSD was traded lower while currently testing the support level 1.1920. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.1985, 1.2070
Support level: 1.1920, 1.1845
USDJPY, H4: USDJPY was traded higher while currently testing the resistance level 110.85. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 110.85, 111.45
Support level: 110.30, 109.75
AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level 0.7545. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.7475.
Resistance level: 0.7545, 0.7595
Support level: 0.7475, 0.7395
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level 0.7000. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 0.7065, 0.7135
Support level: 0.7000, 0.6925
USDCAD, H4: USDCAD was traded lower following recent breakout below the previous support level 1.2350. MACD which illustrate persistent bearish bias signal suggest the pair to extend its losses towards the support level 1.2275.
Resistance level: 1.2350, 1.2420
Support level: 1.2275, 1.2185
USDCHF, H4: USDCHF was traded higher following prior rebound from the support level 0.9180. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 0.9245.
Resistance level: 0.9245, 0.9280
Support level: 0.9180, 0.9135
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level 72.40. MACD which illustrate ongoing bullish momentum signals suggest the commodity to extend its gains towards the resistance level 74.20.
Resistance level: 74.20, 76.30
Support level: 72.40, 70.25
GOLD_, H4: Gold price was traded higher following prior rebound from the support level 1767.55. MACD which illustrate ongoing bullish momentum signal suggest the commodity to extend its rebound towards the resistance level 1812.10.
Resistance level: 1812.10, 1856.00
Support level: 1767.55, 1725.50.