{"id":169349,"date":"2021-04-22T00:41:11","date_gmt":"2021-04-22T00:41:11","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=169349"},"modified":"2021-04-22T00:41:11","modified_gmt":"2021-04-22T00:41:11","slug":"220421-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220421-morning-session-analysis\/","title":{"rendered":"220421 Morning Session Analysis"},"content":{"rendered":"

22 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

Loonie surged amid hawkish tone from Bank of Canada.<\/strong><\/span><\/p>\n

The Canadian Dollar surged significantly against the US Dollar on yesterday over the hawkish tone from the Bank of Canada. Investors remained optimistic toward the economic progression in Canada following the Bank of Canada to dial back emergency support for the economy. According to the statement from Bank of Canada, the central bank claimed that they will remain their interest rate at the effective lower bound until the 2% inflation target is sustainably achieved. Though, the Bank of Canada remained confident toward the economic progression in the country, thanks to the successful vaccine rollout and the improvement of the consumer spending. The Bank of Canada signaled that they could be tightening their monetary policy in late 2022 in order to combat the inflation risk in future while reiterated that their economic development as for now had became stable. Indeed, the Bank of Canada cut the pace of bond purchases from C$4 billion to C$3 billion per week. As of writing, USD\/CAD depreciated by 0.08% to 1.2500.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged 0.13% to $61.10 per barrel as of writing. Nonetheless, the crude oil price was edged lower yesterday amid spiking numbers of the Covid-19 cases around the world had spurred negative prospect for the crude oil demand. As for now, investors would continue to remain their focus on the Covid-19 development in order to gauge the likelihood movement for this black-commodity. On the other hand, the gold price appreciated by 0.05% to $1794.25 per troy ounces amid risk-off sentiment in the FX market.<\/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 Press Conference<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
19:45<\/td>\nEUR – ECB Interest Rate Decision (Apr)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n576K<\/td>\n625K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – Existing Home Sales (Mar)<\/td>\n6.22M<\/td>\n6.18M<\/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 retracement from the resistance level at 91.30. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward support level at 90.80.<\/p>\n

 <\/p>\n

Resistance level: 91.30, 92.00<\/p>\n

Support level: 90.80, 90.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3905. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.4000, 1.4130<\/p>\n

Support level: 1.3905, 1.3800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1985. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.2055.<\/p>\n

 <\/p>\n

Resistance level: 1.2055, 1.2130<\/p>\n

Support level: 1.1985, 1.1920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 108.45. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 107.70.<\/p>\n

 <\/p>\n

Resistance level: 108.45, 109.20<\/p>\n

Support level: 107.70, 106.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7755. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7755, 0.7815<\/p>\n

Support level: 0.7705, 0.7665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7235. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7235, 0.7320<\/p>\n

Support level: 0.7110, 0.6960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2460. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2535, 1.2615<\/p>\n

Support level: 1.2460, 1.2395<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9225. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9225, 0.9365<\/p>\n

Support level: 0.9060, 0.8910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 61.85. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 59.90.<\/p>\n

 <\/p>\n

Resistance level: 61.85, 63.60<\/p>\n

Support level: 59.90, 57.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1781.95. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1812.50.<\/p>\n

 <\/p>\n

Resistance level: 1812.50, 1853.30<\/p>\n

Support level: 1781.95, 1755.50<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

22 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 Loonie surged amid hawkish tone from Bank of Canada. The Canadian Dollar surged significantly against the US Dollar on yesterday over the hawkish tone from the Bank of Canada. Investors remained optimistic toward the economic progression in Canada following the Bank of Canada to dial back emergency support for […]<\/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\/169349"}],"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=169349"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/169349\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=169349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=169349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=169349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}