{"id":216350,"date":"2021-12-15T00:11:28","date_gmt":"2021-12-15T00:11:28","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=216350"},"modified":"2021-12-15T00:11:28","modified_gmt":"2021-12-15T00:11:28","slug":"151221-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/151221-morning-session-analysis\/","title":{"rendered":"151221 Morning Session Analysis"},"content":{"rendered":"

15 December 2021\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 Morning Session Analysis<\/strong><\/p>\n

Dollar surged amid hawkish expectation from Fed.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs surged following the United States released upbeat inflation data yesterday, insinuating hawkish expectation for Federal Reserve during the crucial FOMC meeting tomorrow. According to U.S. Bureau of Labor Statistics, U.S. Producer Price Index (PPI) for last month notched up significantly from the previous reading of 0.6% to 0.8%, exceeding the market forecast at 0.5%. Together with a tightening US labor market, rising price pressures will likely to prompt the Federal Reserve to accelerate the tapering of the early massive bond purchasing program and increase the odds for rate hikes sooner than previously expected. Earlier aggressive monetary aids from the governments across the globe had fuelled significant demand for goods, leaving supply chain overstretched. As for now, investors would focus on the decision from Federal Reserve during the FOMC meeting to receive further trading signal. As of writing, the Dollar Index appreciated by 0.25% to 96.55.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.07% to $70.45 per barrel as of writing. The oil market edged lower over the backdrop of bearish inventory data. According to American Petroleum Institute (API), U.S. API Weekly Crude Oil Stock came in at -0.815M, missing the market forecast at -2.600M. On the other hand, the gold price slumped 0.04% to $1772.40 per troy ounces as of writing 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

03:00 (16th<\/sup>)\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 FOMC Economic Projections<\/p>\n

03:00 (16th<\/sup>)\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 FOMC Statement<\/p>\n

03:30 (16th<\/sup>)\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 FOMC Press Conference<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\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
15:00<\/td>\nGBP – CPI (YoY) (Nov)<\/td>\n4.20%<\/td>\n4.70%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core Retail Sales (MoM) (Nov)<\/td>\n1.70%<\/td>\n1.00%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Retail Sales (MoM) (Nov)<\/td>\n1.70%<\/td>\n0.80%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD – Core CPI (MoM) (Nov)<\/td>\n0.60%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-0.240M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
03:00
\n(16th<\/sup>)<\/td>\n		USD – Fed Interest Rate Decision<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level at 96.50. 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: 96.50, 96.90<\/p>\n

Support level: 95.65, 94.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3195. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3355, 1.3505<\/p>\n

Support level: 1.3195, 1.3050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1370. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.1175.<\/p>\n

 <\/p>\n

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

Support level: 1.1175, 1.1010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 112.80. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 114.40.<\/p>\n

 <\/p>\n

Resistance level: 114.40, 115.40<\/p>\n

Support level: 112.80, 112.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7175. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6995.<\/p>\n

 <\/p>\n

Resistance level: 0.7175, 0.7280<\/p>\n

Support level: 0.6995, 0.6825<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6735. 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: 0.6815, 0.6890<\/p>\n

Support level: 0.6635, 0.6640<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2870. 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: 1.2870, 1.3020<\/p>\n

Support level: 1.2720, 1.2595<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9200. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9260.<\/p>\n

 <\/p>\n

Resistance level: 0.9260, 0.9315<\/p>\n

Support level: 0.9200, 0.9155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 72.65. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 68.65.<\/p>\n

 <\/p>\n

Resistance level: 72.65, 75.10<\/p>\n

Support level: 68.65, 65.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1762.20. 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: 1790.00, 1811.50<\/p>\n

Support level: 1762.20, 1729.60<\/p>\n

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

15 December 2021\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 Morning Session Analysis Dollar surged amid hawkish expectation from Fed. The Dollar Index which traded against a basket of six major currency pairs surged following the United States released upbeat inflation data yesterday, insinuating hawkish expectation for Federal Reserve during the crucial FOMC meeting tomorrow. According to U.S. Bureau of Labor Statistics, […]<\/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\/216350"}],"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=216350"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/216350\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=216350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=216350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=216350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}