{"id":264276,"date":"2022-08-11T04:08:55","date_gmt":"2022-08-11T04:08:55","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=264276"},"modified":"2022-08-11T04:08:55","modified_gmt":"2022-08-11T04:08:55","slug":"110822-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/110822-afternoon-session-analysis\/","title":{"rendered":"110822 Afternoon Session Analysis"},"content":{"rendered":"

11 August 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound surged ahead of GDP data. <\/strong><\/span><\/p>\n

The Pound Sterling, which is widely traded by global investors, skyrocketed yesterday amid the larger-than-expected decline in the inflation figures diminished the appeal of the US dollar. After the much-anticipated inflation report was released from the US, the investor\u2019s risk appetite improved dramatically as the CPI data came in at 8.5% only, far lower than the consensus forecast of 8.7%. The soft inflationary pressures are mainly attributed to the significant fall in energy prices over the past two months. Following the inflation rate trimmed, the tightening path of the Federal Reserve is expected to be narrowed, but a consecutive fall in the inflation figures would be a favorable scenario before they stop the rate hike plan. On the other side, the pound is still waiting for the upcoming GDP data, which is due on Friday, as it could provide further scrutiny regarding the economic development of the UK in the past quarter. In the meantime, investors also waiting for the final election of the new prime minister, which will succeed Boris Johnson next month. As of writing, the pair of GBP\/USD dropped by -0.34% to 1.2177.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price is up 0.05% to $91.65 a barrel amid the weakening of the dollar index causing the price of this black commodity cheaper for the non-US oil buyer. Besides, the gold prices dropped -by 0.40% to $1784.55 per troy ounce despite the inflation figure weakened.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 Mountain Day<\/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

 <\/p>\n

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
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n260K<\/td>\n263K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – PPI (MoM) (Jul)<\/td>\n1.10%<\/td>\n0.30%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 105.15. MACD which illustrated bearish bias momentum suggests the index to extend its losses toward the support level at 103.55.<\/p>\n

 <\/p>\n

Resistance level: 105.15, 106.10<\/p>\n

Support level: 103.55, 101.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.2175. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2355.<\/p>\n

 <\/p>\n

Resistance level: 1.2355, 1.2480<\/p>\n

Support level: 1.2175, 1.2035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.0265. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0370.<\/p>\n

 <\/p>\n

Resistance level: 1.0370, 1.0490<\/p>\n

Support level: 1.0265, 1.0155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 133.15. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 131.35.<\/p>\n

 <\/p>\n

Resistance level: 133.15, 135.25<\/p>\n

Support level: 131.30, 128.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6985. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.7115.<\/p>\n

 <\/p>\n

Resistance level: 0.7115, 0.7220<\/p>\n

Support level: 0.6985, 0.6860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6430. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.6430.<\/p>\n

 <\/p>\n

Resistance level: 0.6430, 0.6555<\/p>\n

Support level: 0.6360, 0.6245<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2805. MACD which illustrated bearish bias momentum suggests the pair to extend its losses toward the support level at 1.2730.<\/p>\n

 <\/p>\n

Resistance level: 1.2805, 1.2925<\/p>\n

Support level: 1.2730, 1.2645<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9450. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.9350.<\/p>\n

 <\/p>\n

Resistance level: 0.9450, 0.9520<\/p>\n

Support level: 0.9350, 0.9230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 91.80. MACD which illustrated ongoing bullish momentum suggests the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 91.80, 93.15<\/p>\n

Support level: 89.70, 87.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower while currently testing the support level at 1783.20. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1808.15, 1829.75<\/p>\n

Support level: 1783.20, 1770.05<\/p>\n","protected":false},"excerpt":{"rendered":"

11 August 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Pound surged ahead of GDP data. The Pound Sterling, which is widely traded by global investors, skyrocketed yesterday amid the larger-than-expected decline in the inflation figures diminished the appeal of the US dollar. After the much-anticipated inflation report was released from the US, the investor\u2019s risk appetite improved […]<\/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\/264276"}],"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=264276"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/264276\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=264276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=264276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=264276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}