{"id":292704,"date":"2022-12-22T00:01:51","date_gmt":"2022-12-22T00:01:51","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=292704"},"modified":"2022-12-22T00:01:51","modified_gmt":"2022-12-22T00:01:51","slug":"221222-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/221222-morning-session-analysis\/","title":{"rendered":"221222 Morning Session Analysis"},"content":{"rendered":"

22 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

US Dollar revived amid consumer confidence bounced back.<\/strong><\/span><\/p>\n

The dollar index, which traded against a basket of six major currencies, regained its luster over the past trading session as a positive economic data showed some recovery on the level of consumer confidence toward the nation\u2019s economy. According to the Conference Board, the US CB Consumer Confidence data bounded sharply from the prior month reading\u2019s 101.4 to 108.3, significantly higher than the consensus forecast at 101.0. The improvement of the consumer confidence was due to consumers\u2019 more favorable view regarding the economy and jobs. With the data also hit the highest level since April 2022, it is also showing that the consumer\u2019s willingness on higher spending will continue in the near-term future, at least the first quarter of 2023 despite the headwinds of inflation and rate hikes plan from the Federal Reserve. Moreover, the retracement of Japanese Yen has boosted the appeal of dollar index, whereby the slump in the Yen market was mainly due to profit taking activity after skyrocketing for more than 5.00%. As of writing, the dollar index rose 0.27% to 104.25.<\/p>\n

 <\/p>\n

In the commodities market, crude oil prices up by 2.80% to $78.25 per barrel as EIA reported crude oil inventory draw for the past one week. According to the EIA, US Crude Oil Stock dropped by -5.894M, while the consensus forecast was -1.657M. \u00a0Besides, gold prices depreciated by -0.19% to $1814.30 per troy ounce amid the strengthening of 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

N\/A<\/p>\n

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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

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 <\/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
15:00<\/td>\nGBP – GDP (YoY) (Q3)<\/td>\n2.4%<\/td>\n2.4%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – GDP (QoQ) (Q3)<\/td>\n2.9%<\/td>\n2.9%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n211K<\/td>\n222K<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior rebound near the support level at 103.15. MACD which illustrated bullish bias momentum suggests the index to extend its gains toward the resistance level at 105.00.<\/p>\n

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 <\/p>\n

Resistance level: 105.00, 106.65<\/p>\n

Support level: 103.15, 101.25<\/p>\n

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GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the previous resistance level at 1.2200. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2000.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 1.2200, 1.2345<\/p>\n

Support level: 1.2000, 1.1820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.0615.\u00a0 However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical retracement in short term.<\/p>\n

 <\/p>\n

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

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

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\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level at 131.25. 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: 134.15, 136.45<\/p>\n

Support level: 131.25, 128.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6725. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 0.6640, 0.6530<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6355. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.6255.<\/p>\n

 <\/p>\n

Resistance level: 0.6355, 0.6460<\/p>\n

Support level: 0.6255, 0.6170<\/p>\n

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\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3600. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3740, 1.3885<\/p>\n

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

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9225. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.9225.<\/p>\n

 <\/p>\n

Resistance level: 0.9310, 0.9405<\/p>\n

Support level: 0.9225, 0.9110<\/p>\n

 <\/p>\n

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CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 76.10. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 80.60.<\/p>\n

 <\/p>\n

Resistance level: 80.60, 86.15<\/p>\n

Support level: 76.10, 71.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1807.85. MACD which illustrated diminishing bearish momentum suggests the commodity to extend its gains toward the resistance level at 1835.30.<\/p>\n

 <\/p>\n

Resistance level: 1835.30, 1869.85<\/p>\n

Support level: 1807.85, 1786.00<\/p>\n

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

22 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 Morning Session Analysis   US Dollar revived amid consumer confidence bounced back. The dollar index, which traded against a basket of six major currencies, regained its luster over the past trading session as a positive economic data showed some recovery on the level of consumer confidence toward the nation\u2019s economy. According to […]<\/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\/292704"}],"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=292704"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/292704\/revisions"}],"predecessor-version":[{"id":292754,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/292704\/revisions\/292754"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=292704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=292704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=292704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}