{"id":303392,"date":"2023-02-15T07:10:54","date_gmt":"2023-02-15T07:10:54","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=303392"},"modified":"2023-02-15T07:50:29","modified_gmt":"2023-02-15T07:50:29","slug":"150223-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150223-afternoon-session-analysis\/","title":{"rendered":"150223 Afternoon Session Analysis"},"content":{"rendered":"

15 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 Afternoon Session Analysis<\/strong><\/p>\n

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Pound flips amid investor fears on UK recessions.<\/strong><\/span><\/p>\n

The Pound Sterling, as one of the major traded currencies by global investors, was traded lower following a strong rebound in the previous trading session. Initially, a series of strong labor market data including a negative changes in unemployment claims for the month of January and a lower unemployment rate of 3.7%, contributed some gains to the pound. However, the fears of investors over the possibility of the UK economy might slip into recession offset the pound’s upside. According to a Reuter\u2019s poll, the UK economy is currently experiencing a recession, while the Monetary Policy Committee (MPC) intending to further increase the interest rate to curb the high inflation pressures.\u00a0 Besides, the drop in GBP was extended following the release of mixed CPI data from the US. The January CPI in yearly reading stood at 6.4%, slightly higher than the market expectation of 6.2% but still lower than the prior month’s 6.5%.\u00a0 This result gave the Fed to have more room for further monetary tightening. Thus, it strengthened the value of dollar index, urging the pound according to slip against US dollar. As of writing, the GBP\/USD slipped -0.26% to $1.2138.<\/p>\n

In the commodities market, crude oil prices dropped by -1.21% to $78.10 per barrel amid American Petroleum Institute (API) reported crude oil inventories were in a surplus over the past week. Besides, gold prices edged down to -0.67% to $1852.85 per troy ounce amid the strengthening of dollar index.<\/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

17:00\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 IEA Monthly Report<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/p>\n

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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 – CPI (YoY) (Jan)<\/td>\n10.5%<\/td>\n10.2%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core Retail Sales (MoM) (Jan)<\/td>\n-1.1%<\/td>\n0.7%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Retail Sales (MoM) (Jan)<\/td>\n-1.1%<\/td>\n1.6%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n2.423M<\/td>\n1.166M<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following a prior breakout above the previous resistance level at 103.00. MACD which illustrated diminishing bearish momentum suggests the index to extend its gains toward the resistance level at 104.45.<\/p>\n

 <\/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 lower while currently testing for the support level at 1.2105. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses if successfully break below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2230, 1.2445<\/p>\n

Support level: 1.2145,1.2010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following the prior retracement from the resistance level at 1.0790. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses toward the support level at 1.0635.<\/p>\n

 <\/p>\n

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

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

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following the prior breakout above the previous resistance level at 132.30. However, MACD which illustrated diminishing bullish momentum suggests the pair to undergo technical correction in short-term.<\/p>\n

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Resistance level: 134.55, 136.30<\/p>\n

Support level: 132.30, 130.25<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following a prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses after toward the support level at 0.6945.<\/p>\n

 <\/p>\n

Resistance level: 0.7040, 0.7120<\/p>\n

Support level: 0.6945, 0.6870<\/p>\n

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following a prior break below the previous support level at 0.6325. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6265.<\/p>\n

 <\/p>\n

Resistance level: 0.6325, 0.6400<\/p>\n

Support level: 0.6265, 0.6195<\/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

 <\/p>\n

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

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

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following the prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9240<\/p>\n

 <\/p>\n

Resistance level: 0.9240, 0.9320<\/p>\n

Support level: 0.9195, 0.9140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing for the support level at 78.70. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses if successfully break below the support level.<\/p>\n

 <\/p>\n

Resistance level: 81.60,85.25<\/p>\n

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

\"\"<\/p>\n

 <\/p>\n

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

GOLD_, H4: <\/strong>Gold price was traded higher following the prior rebound from the support level at 1847.55. MACD which illustrated bullish bias momentum suggests the commodity to extend its gains toward the resistance level at 1876.90.<\/p>\n

 <\/p>\n

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

Support level: 1847.55, 1819.15<\/p>\n","protected":false},"excerpt":{"rendered":"

15 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 Afternoon Session Analysis   Pound flips amid investor fears on UK recessions. The Pound Sterling, as one of the major traded currencies by global investors, was traded lower following a strong rebound in the previous trading session. Initially, a series of strong labor market data including a negative changes in unemployment claims […]<\/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\/303392"}],"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=303392"}],"version-history":[{"count":2,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/303392\/revisions"}],"predecessor-version":[{"id":303542,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/303392\/revisions\/303542"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=303392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=303392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=303392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}