{"id":266547,"date":"2022-08-22T00:37:09","date_gmt":"2022-08-22T00:37:09","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=266547"},"modified":"2022-08-22T00:37:09","modified_gmt":"2022-08-22T00:37:09","slug":"220822-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220822-morning-session-analysis\/","title":{"rendered":"220822 Morning Session Analysis"},"content":{"rendered":"

22 August 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

Dollar surged amid positive Fed rate hike forecast.<\/strong><\/span><\/p>\n

The dollar index, which gauges its value against a basket of six major currencies, extended its gains over the last Friday trading session as investors reckon that the Federal Reserve will keep raising the interest rates to cool down the overheating economy going forward. Following the release of the Fed\u2019s meeting minutes, the likelihood of an upcoming Fed 75 basis point rate hike has increased from 31% to 47% as the Fed officials are seemingly more aggressive than the investor\u2019s expectation. On the other side, Fed\u2019s Barkin said that the Fed will do what it takes to return inflation to the long-term target of 2%. Besides, he also emphasized that the decline in the recent inflation figure was mainly due to volatile items, signalling that the overall inflationary pressures did not ease in a \u2018healthy\u2019 way in fact. At this point in time, the Fed is seen as having ample room for further rate hikes than other central banks which are more fragile. Nonetheless, the tightening path of the Federal Reserve would still be depended on the future economic condition in the US, where more rate hikes could be seen if the nation\u2019s economy continues to suffer sky-high inflationary pressures. As of writing, the dollar index dropped -0.06% to 108.10.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price is down -0.39% to $89.35 a barrel after rising more than $3 per barrel as lacking positive news on the Iran-US nuclear deal issue.\u00a0 Besides, the gold prices depreciated by -0.02% to $1747.00 a troy ounce amid the dollar’s strengthening.<\/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\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher while currently testing the resistance level at 107.85. MACD which illustrated bullish bias momentum suggests the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 107.85, 108.50<\/p>\n

Support level: 107.15, 105.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.1800. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1900, 1.2035<\/p>\n

Support level: 1.1800, 1.1620<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior breakout below the support level at 1.0075. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.0000.<\/p>\n

 <\/p>\n

Resistance level: 1.0075, 1.0155<\/p>\n

Support level: 1.0000, 0.9915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 136.65. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the next resistance level at 138.00.<\/p>\n

 <\/p>\n

Resistance level: 138.00, 139.35<\/p>\n

Support level: 136.65, 135.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6860. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6985, 0.7115<\/p>\n

Support level: 0.6860, 0.6725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6245. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.6140.<\/p>\n

 <\/p>\n

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

Support level: 0.6140, 0.6050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.2985. MACD which illustrated bullish bias momentum suggests the pair to extend its gains toward the resistance level at 1.3050.<\/p>\n

 <\/p>\n

Resistance level: 1.3050, 1.3135<\/p>\n

Support level: 1.2985, 1.2925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9590. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.9590, 0.9675<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 90.35. MACD which illustrated diminishing bullish momentum suggests the commodity to extend its losses toward the support level at 87.85.<\/p>\n

 <\/p>\n

Resistance level: 90.35, 93.15<\/p>\n

Support level: 87.85, 85.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1770.05. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 1729.25.<\/p>\n

 <\/p>\n

Resistance level: 1770.05, 1783.20<\/p>\n

Support level: 1729.25, 1707.90<\/p>\n

 <\/p>\n

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

22 August 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis Dollar surged amid positive Fed rate hike forecast. The dollar index, which gauges its value against a basket of six major currencies, extended its gains over the last Friday trading session as investors reckon that the Federal Reserve will keep raising the interest rates to cool down the overheating […]<\/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\/266547"}],"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=266547"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/266547\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=266547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=266547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=266547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}