{"id":221170,"date":"2022-01-07T05:57:02","date_gmt":"2022-01-07T05:57:02","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=221170"},"modified":"2022-01-07T05:57:02","modified_gmt":"2022-01-07T05:57:02","slug":"070122-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/070122-afternoon-session-analysis\/","title":{"rendered":"070122 Afternoon Session Analysis"},"content":{"rendered":"

07 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Japanese Yen dipped amid bearish economic prospect.<\/strong><\/span><\/p>\n

The overall economic prospect for the Japan region remained bearish following the economic data had indicated that the Japan\u2019s real wages fell significantly in November for third month as inflation outstripped stagnant nominal wages. The lower wages rate had diminished the household\u2019s purchasing power in Japan. According to Statistics Bureau, Japan Household Spending dipped significantly from the previous reading of -0.6% to -1.3%, missing the market forecast at 1.6% while jeopardizing the economic momentum in the Japan region. Nonetheless, Japanese Prime Minister Fumio Kishida has urged Japanese firms, whose profits have recovered to pre-pandemic levels to increase wages rate by 3% or more, aiming to achieve a cycle of growth and wealth distribution.\u00a0 Market participants speculated that the raising wages expectation would create higher inflation risk in future, dragging down the appeal for the Japanese Yen. As of writing, USD\/JPY appreciated by 0.05% to 115.90.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.45% to $80.35 per barrel as of writing. The oil market surged amid supply constrain for this black-commodity following data had shown that the production in Libya fell to 729,000 barrels per day, lesser than the previous reading of 1.3 million bpd last year amid pipeline maintenance work. On the other hand, the gold price was traded flat at $1793.00 per troy ounces amid market participants are waiting for the crucial NFP data from the US region tonight.<\/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\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
17:30<\/td>\nGBP – Construction PMI (Dec)<\/td>\n55.5<\/td>\n54<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR – CPI (YoY) (Dec)<\/td>\n4.90%<\/td>\n4.70%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Nonfarm Payrolls (Dec)<\/td>\n210K<\/td>\n400K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Unemployment Rate (Dec)<\/td>\n4.20%<\/td>\n4.10%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD – Employment Change (Dec)<\/td>\n153.7K<\/td>\n27.5K<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCAD – Ivey PMI (Dec)<\/td>\n61.2<\/td>\n–<\/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 following prior rebound from the support level at 95.65. However, MACD which illustrated diminishing bullish momentum suggest the index be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.50<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3565. 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: 1.3565, 1.3615<\/p>\n

Support level: 1.3445, 1.3350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1345. 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: 1.1345, 1.1440<\/p>\n

Support level: 1.1235, 1.1175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 116.25. 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: 116.25, 117.50<\/p>\n

Support level: 115.05, 114.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7165. MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7265, 0.7365<\/p>\n

Support level: 0.7165, 0.6995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6815. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6710.<\/p>\n

 <\/p>\n

Resistance level: 0.6815, 0.6920<\/p>\n

Support level: 0.6710, 0.6570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2825. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.2625.<\/p>\n

 <\/p>\n

Resistance level: 1.2825, 1.2940<\/p>\n

Support level: 1.2625, 1.2520<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9175. 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, 0.9345<\/p>\n

Support level: 0.9175, 0.9105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 80.55. 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: 80.55, 84.35<\/p>\n

Support level: 76.85, 72.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1786.30. However, MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1809.95.<\/p>\n

 <\/p>\n

Resistance level: 1809.95, 1830.55<\/p>\n

Support level: 1762.20, 1786.30<\/p>\n

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

07 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Japanese Yen dipped amid bearish economic prospect. The overall economic prospect for the Japan region remained bearish following the economic data had indicated that the Japan\u2019s real wages fell significantly in November for third month as inflation outstripped stagnant nominal wages. The lower wages rate had diminished the household\u2019s […]<\/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\/221170"}],"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=221170"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/221170\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=221170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=221170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=221170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}