{"id":167721,"date":"2021-04-14T00:20:37","date_gmt":"2021-04-14T00:20:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=167721"},"modified":"2021-04-14T00:20:37","modified_gmt":"2021-04-14T00:20:37","slug":"140421-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140421-morning-session-analysis\/","title":{"rendered":"140421 Morning Session Analysis"},"content":{"rendered":"

14 April 2021\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

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Dollar plummeted as J&J vaccine causes blood-clotting.<\/strong><\/span><\/p>\n

The dollar index which gauges its value against a basket of six major currencies failed to recoup from its previous losses while breaching below to the lowest level in 3 weeks after FDA advised to pause the use of vaccine produced by Johnson & Johnson. As of yesterday, US has reported 6 cases of rare blood-clotting disorder after injecting the vaccine. With the backdrop of potential adverse side-effect in J&J vaccine, FDA issued a statement that stating that they are recommending to halt the use of J&J vaccine temporarily, while they will conduct deep-investigation into the issue to ensure the effectiveness and safety of J&J vaccine. The blood-clotting issue has increased the public concern over the vaccine injection, and it is likely that getting more and more people unwilling to be vaccinated, eventually slowdown the pace of vaccination program. Besides, the tumbles of US bond yield has further exerted bearish momentum in dollar market. Overnight, US bond yield slumped tremendously in the wake of solid demand for 30 years bond auction. The $24 billion of US 30 years bond were sold at a high yield of 2.320%, with a bid-to-cover ratio of above average 2.47 times. During Asian early trading session, the dollar index dropped 0.34% to 91.85.<\/p>\n

In the commodities market, crude oil price rose 0.15% to $60.60 per barrel as of writing after API reported a surprise draw in US oil inventory. According to the API, US Weekly Crude Oil Stock came in at -3.608M, marking a larger drop while comparing to the economist forecast at -2.154M. Besides, the gold price rose 0.01% to $1745.35 per troy ounce amid weakening of 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

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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 EUR\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 ECB President Lagarde Speaks
\n00:00\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 Speaks<\/p>\n

(15th<\/sup>)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-3.522M<\/td>\n-2.889M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 91.95. MACD which illustrated bearish bias momentum suggest the index to extend its losses toward the support level at 91.60.<\/p>\n

 <\/p>\n

Resistance level: 91.95, 92.40<\/p>\n

Support level: 91.60, 91.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3725. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.3810.<\/p>\n

 <\/p>\n

Resistance level: 1.3810, 1.3865<\/p>\n

Support level: 1.3725, 1.3675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1955. MACD which illustrated bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1955, 1.2030<\/p>\n

Support level: 1.1865, 1.1795<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 109.20. MACD which illustrated bearish bias momentum signal suggest the pair to extend its losses toward the support level at 108.30.<\/p>\n

 <\/p>\n

Resistance level: 109.20, 110.00<\/p>\n

Support level: 108.30, 107.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the lower level. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.7665.<\/p>\n

 <\/p>\n

Resistance level: 0.7665, 0.7735<\/p>\n

Support level: 0.7565, 0.7505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7060. MACD which illustrated bullish bias momentum signal suggests the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7060, 0.7110<\/p>\n

Support level: 0.7000, 0.6945<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2570. MACD which illustrated bearish bias momentum suggests the pair to extend its losses toward the support level at 1.2510.<\/p>\n

 <\/p>\n

Resistance level: 1.2570, 1.2635<\/p>\n

Support level: 1.2510, 1.2465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing near the support level at 0.9220. MACD which illustrated bearish bias momentum suggests the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9280, 0.9360<\/p>\n

Support level: 0.9220, 0.9185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 59.85. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 61.30.<\/p>\n

 <\/p>\n

Resistance level: 61.30, 62.50<\/p>\n

Support level: 59.85, 58.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1745.25. MACD which illustrated bullish momentum signal suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1745.25, 1755.60<\/p>\n

Support level: 1735.05, 1723.85<\/p>\n","protected":false},"excerpt":{"rendered":"

14 April 2021\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   Dollar plummeted as J&J vaccine causes blood-clotting. The dollar index which gauges its value against a basket of six major currencies failed to recoup from its previous losses while breaching below to the lowest level in 3 weeks after FDA advised to pause the use of vaccine produced […]<\/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\/167721"}],"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=167721"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/167721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=167721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=167721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=167721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}