{"id":329517,"date":"2023-06-15T06:47:19","date_gmt":"2023-06-15T06:47:19","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=329517"},"modified":"2023-06-15T06:47:19","modified_gmt":"2023-06-15T06:47:19","slug":"150623-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150623-afternoon-session-analysis\/","title":{"rendered":"150623 Afternoon Session Analysis"},"content":{"rendered":"

15 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

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Greenback jumped amid Fed\u2019s hawkish comment.<\/strong><\/span><\/p>\n

The dollar index, which was traded against a basket of six major currencies, extended its gains during the Asian trading session as the Fed\u2019s hawkish comment continued to spur the sentiment in the dollar market. Prior to the Asian trading hour, the Fed unanimously decided to hold its interest rate at 5.25% as there were some progress in curbing the inflation. In the FOMC Press Conference, the Fed\u2019s chairman Jerome Powell expressed optimism over their effort on cooling down the inflation, where he pointed that the inflationary pressure in the US is meaningfully below trend. However, the Fed predicted that they will still increase the interest rate by twice where the terminal rate would eventually reach 5.6% before 2024. Also, Jerome Powell also said that he does not see a rate cut until inflation comes down meaningfully and significantly. He highlighted that none of the member was considering a rate cut by this year. After all, the investors are now anticipating a 61.5% chance of the Fed hiking rate by a quarter point in the next meeting, according to the CME FedWatch Tool. As of writing, the dollar index rose 0.38% to 103.35.<\/p>\n

 <\/p>\n

In the commodities market, crude oil prices edged down -0.01% to $68.70 per barrel as the EIA reported some stockpiles in the inventory level.\u00a0 Besides, gold prices were down by -0.30% to $1936.05 per troy ounce as the dollar strengthened following the hawkish statement from Jerome Powell.<\/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

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 <\/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

20:45\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 Press Conference<\/p>\n

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

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:15<\/td>\nEUR – Deposit Facility Rate (Jun)<\/td>\n3.25%<\/td>\n3.50%<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nEUR –\u00a0 ECB Interest Rate Decision (Jun)<\/td>\n3.75%<\/td>\n4.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core Retail Sales (MoM) (May)<\/td>\n0.4%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n261K<\/td>\n250K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Jun)<\/td>\n-10.4<\/td>\n-13.5<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Retail Sales (MoM) (May)<\/td>\n0.4%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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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 breakout above the previous resistance level at 1.2635. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2765.<\/p>\n

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 <\/p>\n

Resistance level: 1.2765, 1.2875<\/p>\n

Support level: 1.2635, 1.2525<\/p>\n

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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

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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

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AUDUSD, Daily: <\/strong>AUDUSD was traded higher following the prior breakout above the previous resistance level at 0.6785. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the next resistance level at 0.6925.<\/p>\n

 <\/p>\n

Resistance level: 0.6925, 0.7035<\/p>\n

Support level: 0.6785, 0.6675<\/p>\n

 <\/p>\n

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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

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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

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

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

 <\/p>\n

 <\/p>\n

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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

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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 while currently testing the support level at 1939.75. MACD which illustrated diminishing bullish momentum suggests the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

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

Support level: 1939.75, 1889.55<\/p>\n

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

15 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   Greenback jumped amid Fed\u2019s hawkish comment. The dollar index, which was traded against a basket of six major currencies, extended its gains during the Asian trading session as the Fed\u2019s hawkish comment continued to spur the sentiment in the dollar market. Prior to the Asian trading hour, 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\/329517"}],"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=329517"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/329517\/revisions"}],"predecessor-version":[{"id":329561,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/329517\/revisions\/329561"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=329517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=329517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=329517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}