{"id":141228,"date":"2020-09-17T23:53:56","date_gmt":"2020-09-17T23:53:56","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=141228"},"modified":"2020-09-17T23:54:19","modified_gmt":"2020-09-17T23:54:19","slug":"180920-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180920-morning-session-analysis\/","title":{"rendered":"180920 Morning Session Analysis"},"content":{"rendered":"

18 September 2020\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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound sterling jumps as central bank sounded hawkish.<\/strong><\/span><\/p>\n

Pound sterling rebounds from its session low on yesterday after Bank of England (BoE) announced their verdict with regards to monetary policy. BoE kept the interest rates unchanged at 0.10% and asset purchase target at \u00a3745 billion. They also hinted that they would stand ready to \u201cadjust\u201d monetary policy whenever necessary in order to support their economic recovery. The central bank also pointed out that recent UK economic data supports for the need of its current monetary policy setting. Despite higher expectation towards a faster pace of economic recovery, the central bank left the door open for negative interest rates as well as additional policy measures in order to keep the economy on track in the event of a second wave of coronavirus. However, gains on the pound sterling were limited while investors continue to monitor Brexit negotiation in between UK and EU. Investors fear that UK\u2019s failure to secure a trade deal with EU before Brexit deadline may led to economic shock that could jeopardize pose a threat to both countries. As of writing, pair of GBP\/USD ticked up 0.02% to 1.2974 while the dollar index was down by 0.32% to 92.86.<\/p>\n

 <\/p>\n

As for commodities, crude oil price rose 0.02% to $41.00 per barrel. Oil future prices remained well supported after weather analyst detected two other storms in the southern Gulf of Mexico which could become a cyclone in the next 48 hours. This may prolong the closure of oil refineries along Gulf of Mexico and led to a lower oil supply in short-term. Gold price rose 0.08% to $1,945.53 a troy ounce due to weaker US dollar.<\/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

N\/A<\/p>\n

\u00a0<\/u><\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
14:00<\/td>\nGBP \u2013 Retail Sales (Aug)<\/td>\n–<\/td>\n0.7%<\/td>\n3.6%<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (Jul)<\/td>\n–<\/td>\n0.5%<\/td>\n15.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower following prior retrace from the higher level. MACD which illustrate bearish signal suggests the index to extend its losses towards the direction of 92.75.<\/p>\n

 <\/p>\n

Resistance level: 93.00, 93.10<\/p>\n

Support level: 92.75, 92.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher while currently testing 1.2985. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2985, 1.3030<\/p>\n

Support level: 1.2930, 1.2875<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.1900, 1.1995<\/p>\n

Support level: 1.1840, 1.1800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the lower level. Diminishing downward momentum from MACD suggests the pair to experience technical correction.<\/p>\n

 <\/p>\n

Resistance level: 104.80, 105.30<\/p>\n

Support level: 104.50, 104.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7340<\/p>\n

Support level: 0.7300, 0.7275<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 0.6785.<\/p>\n

 <\/p>\n

Resistance level: 0.6785, 0.6920<\/p>\n

Support level: 0.6600, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior closure below 1.3155. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.3155, 1.3195<\/p>\n

Support level: 1.3125, 1.3095<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retrace from the higher level. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9110, 0.9145<\/p>\n

Support level: 0.9050, 0.9005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing at 41.30. MACD which illustrate bullish signal suggests its price to extend further up after closing above 41.30.<\/p>\n

 <\/p>\n

Resistance level: 41.30, 41.90<\/p>\n

Support level: 40.70, 39.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1966.00, 1990.40<\/p>\n

Support level: 1941.70, 1925.00<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

18 September 2020\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 Morning Session Analysis   Pound sterling jumps as central bank sounded hawkish. Pound sterling rebounds from its session low on yesterday after Bank of England (BoE) announced their verdict with regards to monetary policy. BoE kept the interest rates unchanged at 0.10% and asset purchase target at \u00a3745 billion. They also hinted […]<\/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\/141228"}],"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=141228"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/141228\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=141228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=141228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=141228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}