{"id":293382,"date":"2022-12-27T00:46:46","date_gmt":"2022-12-27T00:46:46","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=293382"},"modified":"2022-12-27T00:46:46","modified_gmt":"2022-12-27T00:46:46","slug":"271222-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/271222-morning-session-analysis\/","title":{"rendered":"271222 Morning Session Analysis"},"content":{"rendered":"

27 December 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

FX Market slowed amid Christmas Holiday.<\/strong><\/span><\/p>\n

The dollar index, which traded against a basket of six major currencies, slid last Friday as the economic data signaled that the U.S. economy is cooling down, hyping the market expectation of slower rate hike in the future as inflation eased. According to the Bureau of Economic Analysis, excluding the volatile food and energy components, the PCE index up 0.2% after increasing 0.3% in October, in line with the market consensus. The inflation data showed that it is moving in the right direction, whereby it is in the gradual pace of easing while the US economic growth has not been hindered significantly. At this juncture, the Fed is expected to raise the interest rate by 25 basis points in the next meeting, which is scheduled to be held in the month of February. However, due to the Christmas Holiday, the trading condition in the FX market remains subdued and thinned as the market participants stayed calm.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose by 1.30% to $80.67 per barrel after Russia said it could cut crude output in response to the G7 price cap on Russian exports Besides, gold prices appreciated by 0.14% to $1800.70 per troy ounce amid the weakening of dollar index.<\/p>\n

\u00a0<\/u><\/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 Market\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 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Christmas<\/p>\n

All Day\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 Christmas<\/p>\n

All Day\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 Christmas<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Christmas<\/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 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\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 103.20. MACD which illustrated bullish bias momentum suggests the index to extend its gains toward the resistance level at 105.00.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 105.00, 107.90<\/p>\n

Support level: 103.20, 101.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2125. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.1820.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 1.2125, 1.2415<\/p>\n

Support level: 1.1820, 1.1450<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.0570. However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical retracement in short term.<\/p>\n

 <\/p>\n

Resistance level: 1.0675, 1.0780<\/p>\n

Support level: 1.0570, 1.0440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 131.35. However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 135.30, 138.90<\/p>\n

Support level: 131.35, 126.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance at 0.6730. 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: 0.6730, 0.6895<\/p>\n

Support level: 0.6530, 0.6400<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6280. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6450.<\/p>\n

 <\/p>\n

Resistance level: 0.6450, 0.6570<\/p>\n

Support level: 0.6280, 0.6110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3700. MACD which illustrated bearish bias momentum suggests the pair to extend its losses toward the support level at 1.3500.<\/p>\n

 <\/p>\n

Resistance level: 1.3700, 1.3880<\/p>\n

Support level: 1.3500, 1.3350<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9290. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.9430.<\/p>\n

 <\/p>\n

Resistance level: 0.9430, 0.9575<\/p>\n

Support level: 0.9290, 0.9215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 79.75. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 82.30.<\/p>\n

 <\/p>\n

Resistance level: 82.30, 84.85<\/p>\n

Support level: 79.75, 76.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1808.85. MACD which illustrated bearish momentum suggests the commodity to extend its losses toward the support level at 1765.95.<\/p>\n

 <\/p>\n

Resistance level: 1808.85, 1835.00<\/p>\n

Support level: 1765.95, 1726.25<\/p>\n

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

27 December 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   FX Market slowed amid Christmas Holiday. The dollar index, which traded against a basket of six major currencies, slid last Friday as the economic data signaled that the U.S. economy is cooling down, hyping the market expectation of slower rate hike in the future as inflation eased. According […]<\/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":"off","_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\/293382"}],"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=293382"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/293382\/revisions"}],"predecessor-version":[{"id":293436,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/293382\/revisions\/293436"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=293382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=293382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=293382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}