{"id":290509,"date":"2022-12-13T06:02:24","date_gmt":"2022-12-13T06:02:24","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=290509"},"modified":"2022-12-13T06:02:24","modified_gmt":"2022-12-13T06:02:24","slug":"131222-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131222-afternoon-session-analysis\/","title":{"rendered":"131222 Afternoon Session Analysis"},"content":{"rendered":"

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

Pound Sterling rose amid optimistic GDP data.<\/strong><\/span><\/p>\n

The GBP\/USD, which widely traded by global investors edged up on yesterday amid the upbeat economic data. According to Office for National Statistics, the UK Gross Domestic Product (GDP) MoM has notched up from the previous reading of -0.6% to 0.5%, exceeding the consensus expectation of 0.4%. Besides that, the UK Manufacturing Production MoM for October raised from the prior figures of 0.0% to 0.7%. With such background, the market optimism toward economic progression in the UK has been dialed up, as the data shown has outweighed the market concerns of recession that faced by the UK. Though, the gains that experienced by Pound Sterling was limited following the Bank of England (BoE) was widely expected to scale back its rate hike pace, after its outsized 75 basis point hike in November amid growing signs of a prolonged downturn. According to the BoE\u2019s estimation, the UK will remain in recession throughout next year and the first half of 2024. The bank also forecasted at the November meeting that the UK economy would contract by 0.3% in the fourth quarter. As of writing, the GBP\/USD eased by 0.01% to 1.2269.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 1.18% to $74.04 per barrel as of writing following the expectation of loosening Covid-19 restriction in China boosted up the demand of oil. On the other hand, the gold price rose by 0.16% to $1784.28 per troy ounce as of writing amid the weakening of US Dollar.<\/p>\n

\u00a0<\/strong><\/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

19:00\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

20:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 OPEC Monthly Report<\/p>\n

 <\/p>\n

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
15:00<\/td>\nGBP – Average Earnings Index +Bonus (Oct)<\/td>\n6.0%<\/td>\n6.2%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nGBP – Claimant Count Change (Nov)<\/td>\n3.3K<\/td>\n3.5K<\/td>\n–<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nEUR – German CPI (YoY) (Nov)<\/td>\n10.0%<\/td>\n10.0%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
18:00<\/td>\nEUR – German ZEW Economic Sentiment (Dec)<\/td>\n-36.7<\/td>\n-26.4<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core CPI (MoM) (Nov)<\/td>\n0.3%<\/td>\n0.3%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – CPI (YoY) (Nov)<\/td>\n7.7%<\/td>\n7.3%<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/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. However, MACD which illustrated increasing bullish momentum suggest the index to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 105.20, 107.05<\/p>\n

Support level: 103.45, 101.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2335, 1.2485<\/p>\n

Support level: 1.2135, 1.1955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 1.0600, 1.0740<\/p>\n

Support level: 1.0465, 1.0335<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 139.00, 142.10<\/p>\n

Support level: 135.35, 131.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6830, 0.6960<\/p>\n

Support level: 0.6705, 0.6590<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 0.6460, 0.6560<\/p>\n

Support level: 0.6360, 0.6260<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.3685, 1.3875<\/p>\n

Support level: 1.3500, 1.3320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.9400, 0.9550<\/p>\n

Support level: 0.9235, 0.9095<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 77.25, 81.50<\/p>\n

Support level: 73.90, 70.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1783.50, 1808.55<\/p>\n

Support level: 1756.05, 1733.70<\/p>\n","protected":false},"excerpt":{"rendered":"

13 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 Afternoon Session Analysis Pound Sterling rose amid optimistic GDP data. The GBP\/USD, which widely traded by global investors edged up on yesterday amid the upbeat economic data. According to Office for National Statistics, the UK Gross Domestic Product (GDP) MoM has notched up from the previous reading of -0.6% to 0.5%, exceeding […]<\/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\/290509"}],"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=290509"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/290509\/revisions"}],"predecessor-version":[{"id":290601,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/290509\/revisions\/290601"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=290509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=290509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=290509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}