{"id":296408,"date":"2023-01-09T06:08:29","date_gmt":"2023-01-09T06:08:29","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=296408"},"modified":"2023-01-09T06:08:29","modified_gmt":"2023-01-09T06:08:29","slug":"090123-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090123-afternoon-session-analysis\/","title":{"rendered":"090123 Afternoon Session Analysis"},"content":{"rendered":"

09 January 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

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Canadian dollar jumped amid positive labor data.<\/strong><\/span><\/p>\n

The Canadian dollar, which was majorly traded by the global investors, skyrocketed following the release of an upbeat job data. According to the Statistics Canada, Canada Employment Change jumped from the prior month reading\u2019s 10.1K to 104.0K, mirroring the high resiliency of the nation\u2019s labor market. With the backdrop of hot labor data, it provided Bank of Canada (BoC) with much more spaces for rate hike move in the coming meeting. In order to curb the sky-high inflation, the BoC has been raising the interest rate aggressively since Jan 2022. The cash rates have been adjusted upward from the low level at 0.25% to 4.25% as of the meeting in December 2022. On the other sides, the currency pair of USD\/CAD plummeted further after US services sector showed contraction in the month of December. According to the PMI, US Services PMI came in at 49.6, missing the consensus forecast at 55.0. It is noteworthy to highlight that the services sector accounted for two third of the overall US economic activities. As of writing, the pair of USD\/CAD plunged -0.23% to 1.3410.<\/p>\n

In the commodities market, the crude oil price rose by 0.43% to $74.55 per barrel as the weakening of dollar index reduced the cost of oil for the non-US buyers. Besides, the gold prices rose 0.60% to $1877.50 per troy ounce after the US released a weaker-than-expected services PMI data.<\/p>\n

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

N\/A<\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower while currently testing the support level at 103.15. MACD which illustrated diminishing bullish momentum suggests the index to extend its losses after it successfully breakout below the support level.<\/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 higher while currently testing the resistance level at 1.2105. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

Resistance level: 1.2105, 1.2200<\/p>\n

Support level: 1.1940, 1.1820<\/p>\n

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EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.0675. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

Resistance level: 1.0675, 1.0775<\/p>\n

Support level: 1.0575, 1.0475<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level at 131.25. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

Resistance level: 134.15, 136.45<\/p>\n

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

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AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6860. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6985.<\/p>\n

Resistance level: 0.6985, 0.7125<\/p>\n

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

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\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6355. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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

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

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USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3400. MACD which illustrated bearish bias momentum suggests the pair to extend its losses after it successfully breakout below the support level at 1.3400.<\/p>\n

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

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

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USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the support level at 0.9310. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.9225.<\/p>\n

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

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

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CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. However, MACD which illustrated bearish bias momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

Resistance level: 76.10, 81.35<\/p>\n

Support level: 71.50, 66.10<\/p>\n

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GOLD_, Daily: <\/strong>Gold price was traded higher while currently testing the resistance level at 1869.85. MACD which illustrated bullish bias momentum suggests the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

Resistance level: 1869.85, 1914.15<\/p>\n

Support level: 1825.50, 1807.85<\/p>\n

\u00a0<\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

09 January 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis     Canadian dollar jumped amid positive labor data. The Canadian dollar, which was majorly traded by the global investors, skyrocketed following the release of an upbeat job data. According to the Statistics Canada, Canada Employment Change jumped from the prior month reading\u2019s 10.1K to 104.0K, mirroring the high […]<\/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\/296408"}],"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=296408"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/296408\/revisions"}],"predecessor-version":[{"id":296435,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/296408\/revisions\/296435"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=296408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=296408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=296408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}