{"id":300308,"date":"2023-02-01T06:23:10","date_gmt":"2023-02-01T06:23:10","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=300308"},"modified":"2023-02-01T06:23:10","modified_gmt":"2023-02-01T06:23:10","slug":"010223-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010223-afternoon-session-analysis\/","title":{"rendered":"010223 Afternoon Session Analysis"},"content":{"rendered":"

1 February 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

New Zealand unemployment climbs, Kiwi dollar falls afterward.<\/strong><\/span><\/p>\n

The Kiwi dollar which is traded as one of the major currencies globally slipped after a downbeat labor market report was released. According to the data from Statistics New Zealand, the unemployment rate climbs to 3.4%, which is well above the market expectations of 3.3%. The Employment Change data posted a reading of 0.2%, weaker than the consensus forecast of 0.3%. Both data showed that the labor market remains tight after the Reserve Bank of New Zealand\u2019s aggressive rate hike. The New Zealand Finance Minister, Grant Roberson, mentioned that the country’s unemployment rate actually still remains low and the number of workers has increased significantly through the work visa and working holiday schemes to fill the local labor market. With that, the market participants would continue to eye on more economic data, in order to scrutinize the future monetary policy of the Reserve Bank of New Zealand (RBNZ). As of writing, NZDUSD depreciated -0.275% to $0.6421.<\/p>\n

In the commodities market, the crude oil price appreciated 0.14% to $78.98 per barrel as of writing amid EU country sanctions on Russian oil productions. Besides, the gold price depreciated -0.16% to $1942.05 per troy ounce as investors are waiting for more cues on the monetary policy from Fed.<\/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

18:00\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 Meeting<\/p>\n

3:00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Statement<\/p>\n

(2nd<\/sup> Feb)<\/p>\n

3:00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Press Conference<\/p>\n

(2nd<\/sup> Feb)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
16:55<\/td>\nEUR – German Manufacturing PMI (Jan)<\/td>\n47.0<\/td>\n47.0<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP – Manufacturing PMI (Jan)<\/td>\n46.7<\/td>\n46.7<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR – CPI (YoY) (Jan)<\/td>\n9.2%<\/td>\n9.0%<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nUSD – ADP Nonfarm Employment Change (Jan)<\/td>\n235k<\/td>\n178k<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – ISM Manufacturing PMI (Jan)<\/td>\n48.4<\/td>\n48.0<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD – JOLTs Job Openings (Dec)<\/td>\n10.458M<\/td>\n10.250M<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nUSD – Crude Oil Inventories<\/td>\n0.533M<\/td>\n0.376M<\/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 higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggests the index to extend its gains if successfully breakout the resistance level.<\/p>\n

Resistance level: 102.05, 103.20<\/p>\n

Support level: 100.55, 99.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

Resistance level: 1.2415, 1.2535<\/p>\n

Support level: 1.2265, 1.2120<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

Resistance level: 1.0890, 1.1040<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

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

Resistance level: 130.25, 132.60<\/p>\n

Support level: 126.70, 123.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish momentum suggests the pair to extend its gains if successfully breakout the resistance level.<\/p>\n

Resistance level: 0.7050, 0.7140<\/p>\n

Support level: 0.6955, 0.6870<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following a prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggests the pair to extend its losses.<\/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 lower following a prior breakout below the previous support level.\u00a0 However, MACD which illustrated decreasing bearish momentum suggests the pair to be trade higher as technical correction.<\/p>\n

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

Support level: 1.3155, 1.2980<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following the prior retracement from the resistance level. MACD which illustrated decreasing bullish momentum suggests the pair extended its losses.<\/p>\n

Resistance level: 0.9235, 0.9400<\/p>\n

Support level: 0.9065, 0.8920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following a prior rebound from the support level. MACD which illustrated increasing bullish momentum suggests the commodity to extend its gains.<\/p>\n

Resistance level: 81.50, 85.20<\/p>\n

Support level: 77.25, 73.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

Resistance level: 1939.10, 1960.00<\/p>\n

Support level: 1918.90, 1900.40<\/p>\n

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

1 February 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis New Zealand unemployment climbs, Kiwi dollar falls afterward. The Kiwi dollar which is traded as one of the major currencies globally slipped after a downbeat labor market report was released. According to the data from Statistics New Zealand, the unemployment rate climbs to 3.4%, which is well above the […]<\/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\/300308"}],"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=300308"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/300308\/revisions"}],"predecessor-version":[{"id":300385,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/300308\/revisions\/300385"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=300308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=300308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=300308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}