{"id":250598,"date":"2022-06-13T00:47:13","date_gmt":"2022-06-13T00:47:13","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=250598"},"modified":"2022-06-13T00:47:13","modified_gmt":"2022-06-13T00:47:13","slug":"130622-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130622-morning-session-analysis\/","title":{"rendered":"130622 Morning Session Analysis"},"content":{"rendered":"

13 June 2022\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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Dollar skyrocketed as inflation accelerated.<\/strong><\/span><\/p>\n

The dollar index, which gauges its value against a basket of six major currencies jumped after US labor department released an upbeat inflation data. According to the Bureau of Labor Statistics, US Consumer Price Index (CPI) came in at 8.6% YoY, far higher than the economist forecast at 8.3% YoY, while US Core CPI was remained at 0.6% MoM, but still slightly above the 0.5% expectation of the economist. With that, the accelerated inflation figures have dented the hopes that inflation may have peaked and evoked investors fears that US economy is getting closer to a recession. Prior to that, investors recked on that inflation may have peaked, and thus, Federal Reserve would less likely to have a more aggressive rate hike in the future. Nevertheless, the May\u2019s report likely solidifies the likelihood of multiple 50 basis point interest rate increases ahead, as Fed target was to calm down the inflationary pressures to the level of 2%. As of writing, the dollar index surged 0.15% to 104.30.<\/p>\n

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In the commodities market, crude oil prices were down by 1.51 % to $116.20 as strengthening of dollar index putting downward pressures on this black commodity price. Besides, gold prices were down 0.35% to $1875.80 per troy ounce despite the CPI data showed inflation accelerated further.<\/p>\n

\u00a0<\/u><\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\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 Queen\u2019s Birthday<\/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

N\/A<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
14:00<\/td>\nGBP \u2013 GDP (YoY)<\/td>\n8.7%<\/td>\n–<\/td>\n–<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP \u2013 Manufacturing Production (MoM)(Apr)<\/td>\n-0.2%<\/td>\n0.2%<\/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 104.00. MACD which illustrated bullish bias momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 104.00, 104.45<\/p>\n

Support level: 103.45, 102.55<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2325. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2235.<\/p>\n

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

Support level: 1.2235, 1.2165<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.0565. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.0490.<\/p>\n

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Resistance level: 1.0565, 1.0640<\/p>\n

Support level: 1.0490, 1.0440<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 134.75. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the 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 while currently testing the support level at 0.7035. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after its candle successfully closed below the support level.<\/p>\n

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Resistance level: 0.7120, 0.7260<\/p>\n

Support level: 0.7035, 0.6955<\/p>\n

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\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6365. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.6285.<\/p>\n

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

Support level: 0.6285, 0.6225<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.2775. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2835.<\/p>\n

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Resistance level: 1.2835, 1.2910<\/p>\n

Support level: 1.2775, 1.2715<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9890. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 0.9890, 0.9980<\/p>\n

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

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 116.50. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses toward the support level at 113.50.<\/p>\n

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

Support level: 113.50, 110.70<\/p>\n

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\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1871.65. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1893.40.<\/p>\n

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Resistance level: 1893.40, 1918.95<\/p>\n

Support level: 1871.65, 1850.00<\/p>\n","protected":false},"excerpt":{"rendered":"

13 June 2022\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 skyrocketed as inflation accelerated. The dollar index, which gauges its value against a basket of six major currencies jumped after US labor department released an upbeat inflation data. According to the Bureau of Labor Statistics, US Consumer Price Index (CPI) came in at 8.6% YoY, far higher […]<\/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\/250598"}],"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=250598"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/250598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=250598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=250598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=250598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}