{"id":179811,"date":"2021-06-17T00:40:15","date_gmt":"2021-06-17T00:40:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=179811"},"modified":"2021-06-17T00:40:30","modified_gmt":"2021-06-17T00:40:30","slug":"170621-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170621-morning-session-analysis\/","title":{"rendered":"170621 Morning Session Analysis"},"content":{"rendered":"

17 June 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

US Dollar surged on hawkish tone.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs extend its gains following the Federal Reserve unleashed their hawkish tone toward the economic outlook. The 10-year Treasury yield surged significantly amid the Monetary Policy Committee (MPC) signaled two quarter-point rate hikes by the end of 2023. Besides, the projections showed the U.S. economic outlook for inflation would increase this year, while the overall economic growth is expected to hit 7%. According to Reuters, the Federal Reserve also made technical adjustments aimed at keeping tis key overnight benchmark interest rate from falling too low. The Fed raised the reverse repo rates during the U.S. central bank at the end of a two-day policy meeting. Nonetheless, as for now the Federal Reserve kept its interest rates and monthly bond buying steady until the labor market conditions have reached levels consistent with the Committee\u2019s assessments of maximum employment and inflation has risen to 2%. As of writing, the Dollar Index surged 0.95% to 91.40.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.20% to $71.50 per barrel as of writing due to technical correction following its reached at multi-year highs. Nonetheless, the overall sentiment toward the crude oil commodity remained bullish amid positive inventory data yesterday. According to Energy Information Administration (EIA), U.S. Crude Oil Inventories notched down significantly from the previous reading of -5.241M to -7.355M, better than the market forecast at -3.290M. On the other hand, the gold price slumped 0.15% to $1818.15 per troy ounces amid strengthening 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

Tentative \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 BoJ Monetary Policy Statement<\/p>\n

Tentative \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 BoJ Press Conference<\/p>\n

 <\/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
14:00<\/td>\nGBP – Retail Sales (MoM) (May)<\/td>\n1.80%<\/td>\n9.20%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher while currently testing the resistance level at 91.50. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 91.50. 92.45<\/p>\n

Support level: 90.35, 89.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.4020. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3915.<\/p>\n

 <\/p>\n

Resistance level: 1.4020, 1.4100<\/p>\n

Support level: 1.3915, 1.3810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1985. 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: 1.2060, 1.2110<\/p>\n

Support level: 1.1985, 1.1915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 110.90. 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: 110.90, 111.55<\/p>\n

Support level: 110.30, 109.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7585. 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: 0.7700, 0.7805<\/p>\n

Support level: 0.7585, 0.7465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7060. 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: 0.7120, 0.7225<\/p>\n

Support level: 0.7060, 0.6955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2035. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2380.<\/p>\n

 <\/p>\n

Resistance level: 1.2380, 1.2605<\/p>\n

Support level: 1.2040, 1.1785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9095. 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: 0.9095, 0.9175<\/p>\n

Support level: 0.8930, 0.8850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Weekly: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 73.70. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 73.70, 78.50<\/p>\n

Support level: 66.30, 59.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1814.35. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1852.75, 1871.45<\/p>\n

Support level: 1814.35, 1794.70<\/p>\n

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

17 June 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 US Dollar surged on hawkish tone. The Dollar Index which traded against a basket of six major currency pairs extend its gains following the Federal Reserve unleashed their hawkish tone toward the economic outlook. The 10-year Treasury yield surged significantly amid the Monetary Policy Committee (MPC) signaled two quarter-point […]<\/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\/179811"}],"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=179811"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/179811\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=179811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=179811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=179811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}