{"id":223542,"date":"2022-01-20T00:58:57","date_gmt":"2022-01-20T00:58:57","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=223542"},"modified":"2022-01-20T01:00:37","modified_gmt":"2022-01-20T01:00:37","slug":"200122-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200122-morning-session-analysis\/","title":{"rendered":"200122 Morning Session Analysis"},"content":{"rendered":"

20 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

UK inflation at its highest since 1992.<\/strong><\/span><\/p>\n

UK inflation appreciates at its fastest pace in 30 years despite rising coronavirus cases during last December. According to UK\u2019s Office for National Statistics (ONS), Consumer Price Index rose for the fifth month with 5.4%, its highest level since March 1992. The rise in inflation is mainly attributed to the rising cost of commodities such as gasoline as well as food and non-alcoholic drinks. During a speech, Bank of England\u2019s Governor Andrew Bailey commented that commodity prices are \u201csticky\u201d and that it might take a longer period of time to retrace from its recent high levels. Moreover, Bailey emphasized that rising tension in between Russia and Ukraine may help propel commodity prices further, with the market speculating for a possible deficit in supply if war breaks out. Rising inflation in the UK has also sparked discussion of a possible rate hike as early as March from the Bank of England. As of writing, pair of GBP\/USD depreciates by 0.05% to 1.3609.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price slumped 0.43% to $85.07 per barrel following bearish inventory data from the US. According to American Petroleum Institute, last week\u2019s oil inventory was up by 1.4 million barrels, missing economist\u2019s forecast for a draw of 1.1 million barrels. On the other hand, rising tension in between Russia and Ukraine has provided further support for gold price. During Asian trading session, gold price rose 0.02% to $1,838.94 a troy ounce.<\/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 \u00a0Event<\/strong><\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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 ECB Publishes Account of Monetary Policy Meeting<\/p>\n

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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
18:00<\/td>\nEUR – CPI (YoY) (Dec)<\/td>\n5.00%<\/td>\n5.00%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n230K<\/td>\n220K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Jan)<\/td>\n15.4<\/td>\n20<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – Existing Home Sales (Dec)<\/td>\n6.46M<\/td>\n6.43M<\/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

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 95.95, 96.30<\/p>\n

Support level: 95.45, 95.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from higher level. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.3630, 1.3690<\/p>\n

Support level: 1.3570, 1.3510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.1380, 1.1440<\/p>\n

Support level: 1.1310, 1.1260<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following retracement from 114.55. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 114.55, 115.50<\/p>\n

Support level: 113.50, 112.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following retracement 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: 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 bearish signal suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6780, 0.6830<\/p>\n

Support level: 0.6740, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from higher levels. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower after closing below 1.2485.<\/p>\n

 <\/p>\n

Resistance level: 1.2545, 1.2620<\/p>\n

Support level: 1.2485, 1.2410<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

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

Support level: 0.9130, 0.9100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests its price to be traded lower after breaking its support level.<\/p>\n

 <\/p>\n

Resistance level: 87.40, 89.50<\/p>\n

Support level: 84.60, 82.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold 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.<\/p>\n

 <\/p>\n

Resistance level: 1850.00, 1873.80<\/p>\n

Support level: 1830.20, 1812.80<\/p>\n","protected":false},"excerpt":{"rendered":"

20 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   UK inflation at its highest since 1992. UK inflation appreciates at its fastest pace in 30 years despite rising coronavirus cases during last December. According to UK\u2019s Office for National Statistics (ONS), Consumer Price Index rose for the fifth month with 5.4%, its highest level since March 1992. […]<\/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\/223542"}],"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=223542"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/223542\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=223542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=223542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=223542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}