{"id":218140,"date":"2021-12-23T01:02:56","date_gmt":"2021-12-23T01:02:56","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=218140"},"modified":"2021-12-23T01:02:56","modified_gmt":"2021-12-23T01:02:56","slug":"231221-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/231221-morning-session-analysis\/","title":{"rendered":"231221 Morning Session Analysis"},"content":{"rendered":"

23 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

 <\/p>\n

Greenback down, led by risky asset demand.<\/strong><\/span><\/p>\n

Demand for risky assets rose sharply on yesterday, initiating a broad selloff upon US dollar following positive reports with regards to Omicron variant. According to new research, hospitalization rate among Omicron-infected individuals were 80% lower as compared to Delta variant. The research also pointed out that while Omicron has higher infectivity rate, its side effects that comes along is significantly milder. The hypothesis was made based on observation conducted among hospitalized patient which exert 30% lower severe symptoms and health complications when being compared to previous variants. However, losses on the US dollar were limited following bullish economic report from the US. For the month of December, CB Consumer Confidence notched up to 115.8, significantly higher than forecast of 110.8. The increase in consumer confidence came with higher expectation towards US economic progression in short to mid-term while the data also suggests higher consumer spending which may contribute to an up rise in inflation for the coming months. As of writing, the dollar index was up 0.01% to 96.03.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price extended gains by 0.02% to $73.02 per barrel. Oil prices advanced further on yesterday following a draw in US inventory by -4.72 million barrels last week, significantly larger than forecasted reading of -2.75 million barrels. On the other hand, gold price depreciates by 0.04% to $1,804.44 a troy ounce over the backdrop of stronger greenback.<\/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\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
21:30<\/td>\nUSD – Core Durable Goods Orders (MoM) (Nov)<\/td>\n0.50%<\/td>\n0.60%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n206K<\/td>\n205K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD – GDP (MoM) (Oct)<\/td>\n0.10%<\/td>\n0.80%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – New Home Sales (Nov)<\/td>\n745K<\/td>\n770K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the index to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 96.10, 96.35<\/p>\n

Support level: 95.85, 95.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from higher level. MACD which illustrate diminished bullish signals suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.3355, 1.3410<\/p>\n

Support level: 1.3290, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retrace from higher level. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.1370, 1.1440<\/p>\n

Support level: 1.1320, 1.1285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 114.35, 114.90<\/p>\n

Support level: 113.70, 113.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following retracement from higher level. MACD which illustrate diminished bullish signal suggests the pair to be traded lower short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.7225, 0.7280<\/p>\n

Support level: 0.7180, 0.7140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6820, 0.6875<\/p>\n

Support level: 0.6725, 0.6670<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.2910, 1.2975<\/p>\n

Support level: 1.2835, 1.2765<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from lower level. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9210, 0.9230<\/p>\n

Support level: 0.9190, 0.9165<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests its price to be traded higher in short-term after closing above 73.00.<\/p>\n

 <\/p>\n

Resistance level: 73.00, 75.65<\/p>\n

Support level: 70.40, 69.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from lower levels. However, MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1808.35, 1821.43<\/p>\n

Support level: 1792.15, 1777.00<\/p>\n","protected":false},"excerpt":{"rendered":"

23 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   Greenback down, led by risky asset demand. Demand for risky assets rose sharply on yesterday, initiating a broad selloff upon US dollar following positive reports with regards to Omicron variant. According to new research, hospitalization rate among Omicron-infected individuals were 80% lower as compared to Delta variant. The […]<\/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\/218140"}],"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=218140"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/218140\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=218140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=218140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=218140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}