{"id":288481,"date":"2022-12-02T04:00:30","date_gmt":"2022-12-02T04:00:30","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=288481"},"modified":"2022-12-02T04:00:30","modified_gmt":"2022-12-02T04:00:30","slug":"021222-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021222-afternoon-session-analysis\/","title":{"rendered":"021222 Afternoon Session Analysis"},"content":{"rendered":"

2 December 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\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar plunged ahead of NonFarm Payroll.<\/strong><\/span><\/p>\n

The dollar index, which was traded against the six major currencies in the basket, plummeted more than 1% in the previous trading session as the inflation figure of the US came in at a lower-than-expected reading. The cooling down of high inflationary pressures in the nation has uplifted the probability that the Fed would scale back from its aggressive rate hike plan. While the chairman of the Federal Reserve warned the world that a single inflation figure does not precisely reflect the real situation of inflation, the Core PCE data likely further confirm the drop in inflation.\u00a0 According to the CME FedWatch Tool, the chances of a rate hike with only 50 basis points increased from the previous week\u2019s 75.8% to 79.4%, while the probability of 75 basis points slumped to 20.6% from the prior week\u2019s 24.2%. Going forward, investors are eyeing the long-awaited NonFarm Payroll data to gauge the further direction of the dollar index. As of writing, the dollar index rebounded 0.12% to 104.85.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price was down by -0.23% to $81.75 per barrel, while the market participants remain cautious ahead of the OPEC+ meeting. Besides, the gold prices edged down by -0.30% to $1797.80 per troy ounce following the rebound of the Greenback.<\/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

12:30\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\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 RBNZ Gov Orr Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
21:30<\/td>\nUSD – Nonfarm Payrolls (Nov)<\/td>\n261K<\/td>\n200K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD – Employment Change (Nov)<\/td>\n108.3K<\/td>\n5.0K<\/td>\n–<\/td>\n<\/tr>\n
22:56<\/td>\nUSD – Unemployment Rate (Nov)<\/td>\n3.7%<\/td>\n3.7%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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 104.90. MACD which illustrated bearish bias momentum suggests the index to extend its losses toward the support level at 102.45.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 104.90, 107.85<\/p>\n

Support level: 102.45, 100.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.2200. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2345.<\/p>\n

 <\/p>\n

Resistance level: 1.2345, 1.2470<\/p>\n

Support level: 1.2200, 1.2000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.0475.\u00a0 MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0615.<\/p>\n

 <\/p>\n

Resistance level: 1.0615, 1.0775<\/p>\n

Support level: 1.0475, 1.0365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 136.45. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 134.15.<\/p>\n

 <\/p>\n

Resistance level: 136.45, 138.90<\/p>\n

Support level: 134.15, 131.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6725. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6860.<\/p>\n

 <\/p>\n

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

Support level: 0.6725, 0.6640<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6355. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6460.<\/p>\n

 <\/p>\n

Resistance level: 0.6460, 0.6555<\/p>\n

Support level: 0.6355, 0.6255<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3400. MACD which illustrated bullish bias momentum suggests the pair to extend it gains toward the resistance level at 1.3505.<\/p>\n

 <\/p>\n

Resistance level: 1.3505, 1.3600<\/p>\n

Support level: 1.3400, 1.3265<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9405. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.9310.<\/p>\n

 <\/p>\n

Resistance level: 0.9405, 0.9530<\/p>\n

Support level: 0.9310, 0.9225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 80.60. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 86.15.<\/p>\n

 <\/p>\n

Resistance level: 86.15, 89.45<\/p>\n

Support level: 80.60, 76.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher while currently testing the resistance level at 1805.90. MACD which illustrated bullish bias momentum suggests the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1805.90, 1850.95<\/p>\n

Support level: 1766.50, 1726.15<\/p>\n

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

2 December 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\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar plunged ahead of NonFarm Payroll. The dollar index, which was traded against the six major currencies in the basket, plummeted more than 1% in the previous trading session as the inflation figure of the US came in at a lower-than-expected reading. The cooling down of high inflationary […]<\/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\/288481"}],"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=288481"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/288481\/revisions"}],"predecessor-version":[{"id":288528,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/288481\/revisions\/288528"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=288481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=288481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=288481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}