{"id":329233,"date":"2023-06-14T05:51:41","date_gmt":"2023-06-14T05:51:41","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=329233"},"modified":"2023-06-14T05:51:41","modified_gmt":"2023-06-14T05:51:41","slug":"140623-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140623-afternoon-session-analysis\/","title":{"rendered":"140623 Afternoon Session Analysis"},"content":{"rendered":"

14 June 2023\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

 <\/p>\n

US dollar slid ahead of Fed\u2019s interest rate decision.<\/strong><\/span><\/p>\n

The dollar index, which was traded against a basket of six major currencies, lost it ground while extending its downside during the Asian trading session amid the weaker-than-expected inflation figure.\u00a0 Yesterday, the dollar index was being sell-off tremendously by investors as the US inflation rate dropped from 4.9% to 4.0% in May, lower than the market consensus at 4.1%.\u00a0 As a result, the market participants are expecting the Fed to leave the interest rate at the current level, with no any changes in tomorrow\u2019s meeting.\u00a0 According to the CME FedWatch Tool, the probability of maintaining the interest rate is at 96.5% now, whereas the likelihood of another 25 basis points a rate hike is at 3.5% only.\u00a0 With the decent drop in the inflation data, it might cause the Fed\u2019s members to be tilted dovish.\u00a0 Nonetheless, the FOMC Press Conference would be the main focus of the market participants as the Fed will revealed their view regarding the economic outlook and monetary policy path.\u00a0 As of writing, the dollar index ticked down -0.07% to 103.25.<\/p>\n

 <\/p>\n

In the commodities market, crude oil prices edged up 0.22% to $69.45 per barrel as OPEC monthly report showed a consistent forecast as last month, signaling their optimistic view over the prospect of this black commodity.\u00a0 Besides, gold prices were up by 0.24% to $1948.15 per troy ounce as the dollar weakened.<\/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

 <\/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

16:00\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

02:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Economic Projections<\/p>\n

(15th<\/sup>)<\/p>\n

02:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Statement<\/p>\n

(15th<\/sup>)<\/p>\n

02:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Press Conference<\/p>\n

(15th<\/sup>)<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:30<\/td>\nUSD – PPI (MoM) (May)<\/td>\n0.2%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-0.451M<\/td>\n1.482M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(15th<\/sup>)<\/td>\n

USD – Fed Interest Rate Decision<\/td>\n5.25%<\/td>\n5.25%<\/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 lower following the prior breakout below the previous support level at 103.00. MACD which illustrated bearish bias momentum suggests the index to extend its losses toward the support level at 100.65<\/p>\n

 <\/p>\n

Resistance level: 103.00, 105.00<\/p>\n

Support level: 100.65, 99.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following the prior rebound from the support level at 1.2525. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2645.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 1.2645, 1.2765<\/p>\n

Support level: 1.2525, 1.2405<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following the prior breakout above the previous resistance level at 1.0770. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0915.<\/p>\n

 <\/p>\n

Resistance level: 1.0915, 1.1010<\/p>\n

Support level: 1.0770, 1.0665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following the prior rebound from the support level at 139.00. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 141.60.<\/p>\n

 <\/p>\n

Resistance level: 141.60, 144.85<\/p>\n

Support level: 138.95, 137.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6785. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6785, 0.6925<\/p>\n

Support level: 0.6675, 0.6565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following the prior breakout above the previous resistance level at 0.6150. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6290.<\/p>\n

 <\/p>\n

Resistance level: 0.6290, 0.6455<\/p>\n

Support level: 0.6150, 0.6040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following the prior breakout below the previous support level at 1.3330. MACD which illustrated bearish bias momentum suggests the pair to extend its losses toward the support level at 1.3245.<\/p>\n

 <\/p>\n

Resistance level: 1.3330, 1.3395<\/p>\n

Support level: 1.3245, 1.3170<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following the prior rebound from the support level at 0.8980. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9140.<\/p>\n

 <\/p>\n

Resistance level: 0.9140, 0.9330<\/p>\n

Support level: 0.8980, 0.8835<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following the prior rebound from the support zone. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 70.15.<\/p>\n

 <\/p>\n

Resistance level: 70.15, 74.00<\/p>\n

Support level: 66.50, 62.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following the prior breakout below the previous support level at 1951.60. MACD which illustrated diminishing bullish momentum suggests the commodity to extend its losses toward the support level at 1889.55.<\/p>\n

 <\/p>\n

Resistance level: 1951.60, 1980.00<\/p>\n

Support level: 1889.55, 1839.40<\/p>\n

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

14 June 2023\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   US dollar slid ahead of Fed\u2019s interest rate decision. The dollar index, which was traded against a basket of six major currencies, lost it ground while extending its downside during the Asian trading session amid the weaker-than-expected inflation figure.\u00a0 Yesterday, the dollar index was being sell-off tremendously by […]<\/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\/329233"}],"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=329233"}],"version-history":[{"count":2,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/329233\/revisions"}],"predecessor-version":[{"id":329277,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/329233\/revisions\/329277"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=329233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=329233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=329233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}