{"id":303103,"date":"2023-02-14T06:51:26","date_gmt":"2023-02-14T06:51:26","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=303103"},"modified":"2023-02-14T06:51:26","modified_gmt":"2023-02-14T06:51:26","slug":"140223-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140223-afternoon-session-analysis\/","title":{"rendered":"140223 Afternoon Session Analysis"},"content":{"rendered":"

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

The pound gained ahead of crucial labor data. <\/strong><\/span><\/p>\n

The pound sterling, as one of the most traded currencies by global investors, regained its luster ahead of the economic data release. According to UK National Statistics, the market estimation of the average earnings index is at 6.2%, slightly lower than the previous month’s reading. However, the UK claimant count change for Jan is expected to drop from the previous reading of 19.7k to 17.9k. Prior to that, both of the data showed that the UK was experiencing a loosening labor market condition during the month of Dec 2022, but it flipped the table over afterward. According to the data released by the Office for National Statistics, the unemployment rate stood at 3.5%, the lowest in the past 48 years. With that, investors become more optimistic about the upcoming labor data. Besides, the pound was also boosted by the weakening position of the dollar due to an expectation of a lower US Consumer Price Index (CPI) for January. Investors expect upcoming CPI data will slightly reduce by 0.2% to 6.2% on an annual basis, and the Fed will further loosen its tightening monetary policy. As of writing, the GBP\/USD appreciated by 0.10% to $1.2147.<\/p>\n

In the commodities market, crude oil prices were down by -0.94% to $79.39 per barrel amid the U.S. government’s said it would release crude oil from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers. Besides, gold prices edged up 0.30% to $1869.15 per troy ounce ahead of the inflation report release.<\/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

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
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 (Dec)<\/td>\n6.4%<\/td>\n6.2%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nGBP – Claimant Count Change (Jan)<\/td>\n19.7K<\/td>\n17.9K<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core CPI (MoM) (Jan)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – CPI (YoY) (Jan)<\/td>\n6.5%<\/td>\n6.2%<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing for the support level at 103.00. MACD which illustrated bearish momentum suggests the index to extend its losses after it successfully breakout the support level.<\/p>\n

Resistance level: 103.00, 104.45<\/p>\n

Support level: 101.70, 100.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2145. MACD which illustrated increasing bullish momentum suggests the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

Resistance level: 1.2145, 1.2300<\/p>\n

Support level: 1.2010,1.1900<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following the prior rebound from the lower level. MACD which illustrated increasing bullish momentum suggests the pair to extend its gains toward the resistance level at 1.0790.<\/p>\n

Resistance level: 1.0790,1.0900<\/p>\n

Support level: 1.0635, 1.0470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following the prior breakout below the previous support level at 131.25. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses toward support level at 130.25.<\/p>\n

Resistance level: 132.30, 134.55<\/p>\n

Support level: 130.25, 128.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing for the support level at 0.6945. MACD which illustrated increasing bullish momentum suggests the pair to undergo technical correction in short term.<\/p>\n

Resistance level: 0.6945, 0.7040<\/p>\n

Support level: 0.6870, 0.6775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following a prior retracement from a higher level. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses toward the support level at 0.6325.<\/p>\n

Resistance level: 0.6400, 0.6495<\/p>\n

Support level: 0.6325, 0.6265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following a prior rebound from the support level at 1.3330. MACD which illustrated diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 1.3420.<\/p>\n

Resistance level: 1.3420, 1.3515<\/p>\n

Support level: 1.3330, 1.3250<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following the prior breakout below the previous support level at 0.9195. MACD which illustrated increasing bearish momentum suggests the pair to extend its losses toward the support level at 0.9140.<\/p>\n

Resistance level: 0.9195, 0.9240<\/p>\n

Support level: 0.9140, 0.9100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following a prior retracement from a higher level. MACD which illustrated bearish momentum suggests the commodity to extend its losses toward the support level at 78.70.<\/p>\n

Resistance level: 81.60,85.23<\/p>\n

Support level: 78.70, 76.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following a prior retracement from a higher level. However, MACD which illustrated diminishing bearish momentum suggests the commodity trade higher as a technical correction.<\/p>\n

Resistance level: 1876.90, 1900.20<\/p>\n

Support level: 1847.55, 1819.15<\/p>\n

\u00a0<\/u><\/strong><\/p>\n

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

14 February 2023\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 Afternoon Session Analysis The pound gained ahead of crucial labor data. The pound sterling, as one of the most traded currencies by global investors, regained its luster ahead of the economic data release. According to UK National Statistics, the market estimation of the average earnings index is at 6.2%, slightly lower than […]<\/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\/303103"}],"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=303103"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/303103\/revisions"}],"predecessor-version":[{"id":303193,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/303103\/revisions\/303193"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=303103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=303103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=303103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}