{"id":204627,"date":"2021-10-18T00:25:40","date_gmt":"2021-10-18T00:25:40","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=204627"},"modified":"2021-10-18T00:25:40","modified_gmt":"2021-10-18T00:25:40","slug":"181021-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/181021-morning-session-analysis\/","title":{"rendered":"181021 Morning Session Analysis"},"content":{"rendered":"

18 October 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

New Zealand surged amid hawkish expectation.<\/strong><\/span><\/p>\n

The New Zealand Dollar surged over the backdrop of high inflation data from the region of New Zealand, which spurring hopes that the Reserve Bank of New Zealand would start to contract their earlier monetary policy in order to combat the high inflation risk in future. According to Statistics New Zealand, the quarter New Zealand Consumer Price Index (CPI) notched up significantly from the previous reading of 1.3% to 2.2%, exceeding the market forecast at 1.4%, the highest quarterly reading since June 1987. Housing-related costs, mainly construction and local authority rates were the biggest contribution to the quarterly increase. The inflation pressures would be prompting investors to anticipate a more aggressive resolve by the central bank, increasing the appeal for the New Zealand Dollar. Nonetheless, investors would continue to scrutinize the latest updates with regards of monetary policy as well as further economic data to gauge the likelihood movement for the New Zealand Dollar. As of writing, NZD\/USD appreciated by 0.40% to 0.7092.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.59% to $83.05 per barrel as of writing. The oil market extends its gains as market participants speculated that the easing Covid-19 cases as well as rapid vaccination program around the world would continue to enhance the outlook for this black-commodity. On the other hand, the gold price slumped 0.05% to $1770.55 per troy ounces as of writing following the United States released its upbeat retail sales data last Friday.<\/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

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 94.40. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 94.40, 95,00<\/p>\n

Support level: 93.75, 93.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently near the resistance level at 1.38005. 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: 1.3805, 1.3910<\/p>\n

Support level: 1.3670, 1.3560<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1530. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1680.<\/p>\n

 <\/p>\n

Resistance level: 1.1680, 1.1815<\/p>\n

Support level: 1.1530, 1.1370<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 114.35. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 114.35, 115.40<\/p>\n

Support level: 113.45, 112.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7455. 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: 0.7455, 0.7560<\/p>\n

Support level: 0.7335, 0.7220<\/p>\n

\u00a0<\/strong><\/p>\n

\"\"<\/strong><\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7110. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7110, 0.7155<\/p>\n

Support level: 0.7015, 0.6960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2440. 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: 1.2440, 1.2625<\/p>\n

Support level: 1.2265, 1.2040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9225. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9365, 0.9465<\/p>\n

Support level: 0.9225, 0.9155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 85.15. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 85.15, 93.05<\/p>\n

Support level: 75.75, 66.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1792.85. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1728.05.<\/p>\n

 <\/p>\n

Resistance level: 1792.85, 1831.45<\/p>\n

Support level: 1728.05, 1684.05<\/p>\n","protected":false},"excerpt":{"rendered":"

18 October 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis New Zealand surged amid hawkish expectation. The New Zealand Dollar surged over the backdrop of high inflation data from the region of New Zealand, which spurring hopes that the Reserve Bank of New Zealand would start to contract their earlier monetary policy in order to combat the high inflation […]<\/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\/204627"}],"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=204627"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/204627\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=204627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=204627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=204627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}