{"id":271320,"date":"2022-09-13T03:33:00","date_gmt":"2022-09-13T03:33:00","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=271320"},"modified":"2022-09-13T03:33:00","modified_gmt":"2022-09-13T03:33:00","slug":"130922-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130922-afternoon-session-analysis\/","title":{"rendered":"130922 Afternoon Session Analysis"},"content":{"rendered":"

13 September 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\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Downbeat data weighed on Pound. <\/strong><\/span><\/p>\n

The Sterling Pound, which was majorly traded by global investors, experienced huge sell-off pressures after a series of downbeat data were released yesterday. According to the Office for National Statistics, the GDP for the month of July rose by 0.2%, weaker than the consensus forecast of 0.3%, amid the factors of worker shortages and heightening costs of living with the backdrop of heightened recession risk. Prior to now, the Bank of England (BoE) reckoned that the UK economy would enter into a recession phase for the next 15 months, as revealed during the last central bank meeting. Besides, BoE had also warned that the rising inflation fueled by the elevating energy prices would probably further exacerbate the economy into a lengthy recession. On the other side, the UK Manufacturing Production data, which came in at 0.1%, lower than the consensus forecast of 0.4% mirrored that the new order dropped further amid economic uncertainty and heightened recession risk. As of writing, the pair of GBP\/USD dropped 0.04% to 1.1680.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by -1.12% to $86.70 despite the Nuclear deal between the western countries and Iran being far off the table. Besides, the gold prices depreciated by -0.17% to $1721.80 per troy ounce while the market participants are all eyes on the long-awaited CPI data.<\/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

16:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 BoE Gov Bailey Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\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
14:00<\/td>\nGBP – Average Earnings Index +Bonus (Jul)<\/td>\n5.10%<\/td>\n5.20%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Claimant Count Change (Aug)<\/td>\n-10.5K<\/td>\n-13.2K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR – German ZEW Economic Sentiment (Sep)<\/td>\n-55.3<\/td>\n-60<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core CPI (MoM) (Aug)<\/td>\n0.30%<\/td>\n0.30%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – CPI (YoY) (Aug)<\/td>\n8.50%<\/td>\n8.10%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – CPI (MoM) (Aug)<\/td>\n0.00%<\/td>\n-0.10%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/u><\/strong><\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower while currently testing the support level at 107.85. MACD which illustrated bearish bias momentum suggests the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 108.50, 109.65<\/p>\n

Support level: 107.85, 107.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.1620. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.1770.<\/p>\n

 <\/p>\n

Resistance level: 1.1770, 1.1835<\/p>\n

Support level: 1.1620, 1.1455<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.0075. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0155.<\/p>\n

 <\/p>\n

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

Support level: 1.0075, 1.0000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 144.15. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 141.50.<\/p>\n

 <\/p>\n

Resistance level: 144.15, 146.50<\/p>\n

Support level: 141.50, 139.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6860. However, MACD which illustrated bullish bias momentum suggest the pair to undergo technical correction in short term.<\/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 higher while currently testing the resistance level at 0.6140. 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: 0.6140, 0.6245<\/p>\n

Support level: 0.6030, 0.5925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2985. MACD which illustrated bearish bias momentum suggests the pair to extend losses toward the support level at 1.2925.<\/p>\n

 <\/p>\n

Resistance level: 1.2985, 1.3050<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9520. 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: 0.9590, 0.9675<\/p>\n

Support level: 0.9520, 0.9465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 86.15. MACD which illustrated diminishing bearish momentum suggests the commodity to extend its gains toward the resistance level at 89.45.<\/p>\n

 <\/p>\n

Resistance level: 89.45, 96.65<\/p>\n

Support level: 86.15, 83.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher while currently testing the resistance level at 1729.25. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1729.25, 1770.05<\/p>\n

Support level: 1707.90, 1678.80<\/p>\n

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

13 September 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\u00a0\u00a0 Afternoon Session Analysis   Downbeat data weighed on Pound. The Sterling Pound, which was majorly traded by global investors, experienced huge sell-off pressures after a series of downbeat data were released yesterday. According to the Office for National Statistics, the GDP for the month of July rose by 0.2%, weaker than the […]<\/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\/271320"}],"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=271320"}],"version-history":[{"count":2,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/271320\/revisions"}],"predecessor-version":[{"id":271412,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/271320\/revisions\/271412"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=271320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=271320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=271320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}