25 April 2022 Morning Session Analysis
Rising yield, spurring bullish momentum on US Dollar.
The Dollar Index which traded against a basket of six major currencies extend its gains following the 5-year Treasury yield hit 3% following the Federal Reserve Chairman Jerome Powell unleashed his hawkish tone. According to CNBC, Fed Chair Jerome Powell claimed on International Monetary Fund (IMF) meeting that taming inflation risk is absolutely important. Meanwhile, he also reiterated that the Fed would likely to increase the interest rate by 50 basis point during the Fed’s May monetary policy meeting. Despite the suggestion of a 50-basis-point rate hike was aligned with market expectations, Powell’s comments still prompted the US Treasury yields surged significantly. Currently, investors have become increasingly concerned about potential threats on economic growth that could come from rising inflation and contractionary monetary policy. As of writing, the Dollar Index appreciated by 0.03% to 101.15.
In the commodities market, the crude oil price depreciated by 1.03% to $101.36 per barrel as of writing. The oil market edged lower as concerns upon the economic growth continue to weigh down the appeal for the crude oil demand. On the other hand, the gold price slumped 0.02% to $1932.05 per troy ounces as of writing amid strengthening US Dollar.
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 |
| 16:00 | EUR – German Ifo Business Climate Index (Apr) | 90.8 | 89.1 | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after breakout.
Resistance level: 101.20, 102.20
Support level: 99.25, 97.80
GBPUSD, Daily: GBPUSD was traded lower while currently testing the support level at 1.2800. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after breakout.
Resistance level: 1.2995, 1.3200
Support level: 1.2800, 1.2585
EURUSD, H4: EURUSD was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after breakout.
Resistance level: 1.0905, 1.0975
Support level: 1.0770, 1.0690
USDJPY, H4: USDJPY was traded higher following prior rebound from the support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains.
Resistance level: 129.45, 132.30
Support level: 127.65, 126.00
AUDUSD, Daily: AUDUSD was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.
Resistance level: 0.7280, 0.7360
Support level: 0.7135, 0.6985
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after breakout.
Resistance level: 0.6705, 0.6820
Support level: 0.6615, 0.6535
USDCAD, Daily: USDCAD was traded higher while currently near the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains.
Resistance level: 1.2750, 1.2890
Support level: 1.2635, 1.2485
USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after breakout.
Resistance level: 0.9580, 0.9710
Support level: 0.9455, 0.9230
CrudeOIL, H1: Crude oil price was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after breakout the support level.
Resistance level: 102.95, 105.50
Support level: 100.00, 97.85
GOLD_, H4: Gold price was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after breakout.
Resistance level: 1945.05, 1963.00
Support level: 1930.60, 1918.00