{"id":249844,"date":"2022-06-09T00:40:24","date_gmt":"2022-06-09T00:40:24","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=249844"},"modified":"2022-06-09T00:40:24","modified_gmt":"2022-06-09T00:40:24","slug":"090622-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090622-morning-session-analysis\/","title":{"rendered":"090622 Morning Session Analysis"},"content":{"rendered":"

9 June 2022\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

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Euro spiked ahead of ECB interest rate decision.<\/strong><\/span><\/p>\n

The Euro, which was widely traded by the global market participants jumped ahead of a European Central Bank (ECB) policy announcement. At this juncture, ECB is expected to maintain its interest rate at current level, while expressing a hawkish stance with interest rate hikes to begin in July. Investors reckon that the rate hike cycle in Eurozone would start in July, and there will be a 75 basis point of hikes by the month of September. With that, any message that does not signal an openness to a rate hike would likely fall short of the market\u2019s hawkish expectations and push euro to a lower level. Shifting to the economic data, a series of upbeat data has shown that inflation remains at an elevated level, and it even hit a record high in May. High inflationary pressures across the Eurozone shows that it is necessary for ECB to increase their interest rate in order to cool down the overheating economy. As of writing, the pair of EUR\/USD up 0.04% to 1.0720.<\/p>\n

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In the commodities market, crude oil prices down by 0.05% to $123.15 as of writing as U.S. demand for gasoline keeps rising despite some stockpiles were being found in the recent EIA inventories data. Besides, gold prices up 0.04% to $1853.90 per troy ounce while dollar lingered above the level of 102.00.<\/p>\n

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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

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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

19:45\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 Monetary Policy Statement<\/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 Press Conference<\/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
19:45<\/td>\nEUR – Deposit Facility Rate (Jun)<\/td>\n-0.50%<\/td>\n-0.50%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
19:45<\/td>\nEUR – ECB Marginal Lending Facility<\/td>\n0.25%<\/td>\n–<\/td>\n–<\/strong><\/td>\n<\/tr>\n
19:45<\/td>\nEUR – ECB Interest Rate Decision (Jun)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n200K<\/td>\n210K<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level at 102.30. MACD which illustrated bullish bias momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 102.30, 102.55<\/p>\n

Support level: 101.75, 100.95<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2585. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.2425.<\/p>\n

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Resistance level: 1.2585, 1.2700<\/p>\n

Support level: 1.2425, 1.2325<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.0695. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0770.<\/p>\n

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Resistance level: 1.0770, 1.0860<\/p>\n

Support level: 1.0695, 1.0640<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 133.15. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the next resistance level.<\/p>\n

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Resistance level: 134.75, 136.00<\/p>\n

Support level: 133.15, 131.35<\/p>\n

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AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7260. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the lower level.<\/p>\n

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Resistance level: 0.7260, 0.7345<\/p>\n

Support level: 0.7120, 0.7035<\/p>\n

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NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6430. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

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Resistance level: 0.6545, 0.6635<\/p>\n

Support level: 0.6430, 0.6365<\/p>\n

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USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2515. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2590.<\/p>\n

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Resistance level: 1.2590, 1.2655<\/p>\n

Support level: 1.2515, 1.2455<\/p>\n

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\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9750. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after its candle successfully closed above the resistance level.<\/p>\n

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Resistance level: 0.9750, 0.9825<\/p>\n

Support level: 0.9665, 0.9590<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 119.00. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 123.65<\/p>\n

 <\/p>\n

Resistance level: 123.65, 128.20<\/p>\n

Support level: 119.00, 116.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1850.00. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 1871.65.<\/p>\n

 <\/p>\n

Resistance level: 1871.65, 1893.40<\/p>\n

Support level: 1850.00, 1830.00<\/p>\n","protected":false},"excerpt":{"rendered":"

9 June 2022\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   Euro spiked ahead of ECB interest rate decision. The Euro, which was widely traded by the global market participants jumped ahead of a European Central Bank (ECB) policy announcement. At this juncture, ECB is expected to maintain its interest rate at current level, while expressing a hawkish stance […]<\/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\/249844"}],"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=249844"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/249844\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=249844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=249844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=249844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}