{"id":275912,"date":"2022-10-05T05:39:07","date_gmt":"2022-10-05T05:39:07","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=275912"},"modified":"2022-10-05T05:39:07","modified_gmt":"2022-10-05T05:39:07","slug":"051022-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051022-afternoon-session-analysis\/","title":{"rendered":"051022 Afternoon Session Analysis"},"content":{"rendered":"

5 October 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Euro extends its gains as hawkish tone from ECB.<\/strong><\/span><\/p>\n

The Euro extends its gains following the European Central Bank unleashed their hawkish tone toward the economic prospect. According to Reuters, the European Central Bank claimed that they would begin to stop stimulating the economy through its monetary policy as inflation rate climbed to all time high, while reiterating to increase interest rate back to its \u201cneutral\u201d territory. Earlier, the Euro zone inflation exceeded past forecasts to hit 10.0% in September, a new record high which will reinforce the European Central Bank for another jumbo interest rate hike next month. Recently, the energy prices started to rebound from its lower level over the speculation of OPEC oil cut, which continue to spur further inflation risk for the Euro zone. While the ECB\u2019s next interest rate meeting is still almost a month away, the policymakers have already made statement with regards of another 75-basis point rate hike on 27th<\/sup> October following a combined 125 basis point of moves in earlier two meetings. As of writing, EUR\/USD depreciated by 0.14% to 0.9965.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.01% to $86.15 per barrel as of writing over the backdrop of downbeat inventory data. According to American Petroleum Institute (API), US API Weekly Crude Oil Stock came in at -1.770M, missing the market forecast at 1.966M. On the other hand, the gold price appreciated by 0.39% to $1719.30 per troy ounces as of writing amid weakening US Dollar.<\/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 CNY\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 China – National Day<\/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

11:30\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 RBA Rate Statement<\/p>\n

23:00\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 President Lagarde Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:30<\/td>\nGBP – Composite PMI (Sep)<\/td>\n48.4<\/td>\n48.4<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Services PMI (Sep)<\/td>\n49.2<\/td>\n49.2<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD – ADP Nonfarm Employment Change (Sep)<\/td>\n132K<\/td>\n205K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Sep)<\/td>\n56.9<\/td>\n56<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-0.215M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\u00a0<\/u><\/strong><\/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. MACD which illustrated increasing bearish momentum suggest the index to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 111.40, 113.65<\/p>\n

Support level: 107.55, 104.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1455, 1.1730<\/p>\n

Support level: 1.1065, 1.0890<\/p>\n

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

\"\"<\/strong><\/p>\n

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

 <\/p>\n

Resistance level: 1.0145, 1.0315<\/p>\n

Support level: 0.9915, 0.9740<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 145.35, 152.80<\/p>\n

Support level: 140.75, 136.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6515, 0.6645<\/p>\n

Support level: 0.6385, 0.6185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebounded from the support level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.5850, 0.6030<\/p>\n

Support level: 0.5590, 0.5465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3775, 1.3970<\/p>\n

Support level: 1.3365, 1.3100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently near the support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after breakout.<\/p>\n

 <\/p>\n

Resistance level: 0.9860, 0.9965<\/p>\n

Support level: 0.9750, 0.9640<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, <\/strong>H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 86.35, 89.65<\/p>\n

Support level: 81.95, 76.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1733.75, 1761.60<\/p>\n

Support level: 1700.60, 1676.30<\/p>\n","protected":false},"excerpt":{"rendered":"

5 October 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Euro extends its gains as hawkish tone from ECB. The Euro extends its gains following the European Central Bank unleashed their hawkish tone toward the economic prospect. According to Reuters, the European Central Bank claimed that they would begin to stop stimulating the economy through its monetary policy as […]<\/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\/275912"}],"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=275912"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/275912\/revisions"}],"predecessor-version":[{"id":276008,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/275912\/revisions\/276008"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=275912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=275912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=275912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}