{"id":331663,"date":"2023-06-28T00:54:32","date_gmt":"2023-06-28T00:54:32","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=331663"},"modified":"2023-06-28T00:54:32","modified_gmt":"2023-06-28T00:54:32","slug":"280623-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280623-morning-session-analysis\/","title":{"rendered":"280623 Morning Session Analysis"},"content":{"rendered":"

28 June 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

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US dollar gained on upbeat economic data.<\/strong><\/span><\/p>\n

The dollar index, which was traded against a basket of six major currencies, managed to find its ground after a series of economic data in US showed some positive sign of economic development. Last night, the US Census Bureau posted the US Core Durable Goods Orders data at a reading of 0.6% for the month of May, stronger than both the market expectation and previous reading at -0.1% and -0.6% respectively. It showed that the new orders for manufactured durable goods in the US continued to strengthen for the third consecutive month. Besides, the CB Consumer Confidence Index also surged from the prior month reading\u2019s 102.5 to 109.7 this month, exceeding the consensus forecast at 104.0. The report showed that consumers have a brighter outlook for the economic activity in US. Other than that, the US housing data which included Building Permits and New Home Sales also posted a stronger-than-expected results yesterday. With such a backdrop, it wiped off the market worries over the risk of recession as these economic data showed that US economy remains resilient and far from a recession. As of writing, the dollar index dropped -0.10% to 102.50.<\/p>\n

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In the commodities market, crude oil prices were down by -0.07% to $67.85 per barrel as the continuous rate hikes from the central banks dampened the prospect of this market. Besides, the gold prices edged up by 0.08% to $1915.10 per troy ounce following a slew of upbeat data were released yesterday.<\/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

21:30\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 Fed Chair Powell Speaks<\/p>\n

21:30\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 ECB President Lagarde Speaks<\/p>\n

23:00\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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-3.831M<\/td>\n1.415M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following the prior retracement from the higher level. MACD which illustrated bearish bias momentum suggests the index to extend its losses toward the support level at 100.65.<\/p>\n

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

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

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GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2765. However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical correction in short term.<\/p>\n

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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 while currently testing the resistance level at 1.0915. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.1010.<\/p>\n

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Resistance level: 1.1010, 1.1065<\/p>\n

Support level: 1.0915, 1.0770<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded higher following the prior breakout above the previous resistance level at 141.65. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 144.90.<\/p>\n

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Resistance level: 144.90, 147.20<\/p>\n

Support level: 141.60, 139.00<\/p>\n

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AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6675. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

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

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

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NZDUSD, Daily: <\/strong>NZDUSD was traded higher following the prior rebound from the support level at 0.6150. However, MACD which illustrated diminishing bullish momentum suggest the pair to undergo technical correction in short term.<\/p>\n

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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 higher following the prior breakout above the previous resistance level at 1.3175. MACD which illustrated diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 1.3245.<\/p>\n

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Resistance level: 1.3245, 1.3330<\/p>\n

Support level: 1.3175, 1.3065<\/p>\n

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USDCHF, Daily: <\/strong>USDCHF was traded lower following the prior retracement from the resistance level at 0.8980. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.8830.<\/p>\n

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Resistance level: 0.8980, 0.9140<\/p>\n

Support level: 0.8830, 0.8670<\/p>\n

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CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following the prior retracement from the resistance level at 70.15. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses toward the support level at 66.50.<\/p>\n

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Resistance level: 70.15, 73.90<\/p>\n

Support level: 66.50, 61.95<\/p>\n

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GOLD_, Daily: <\/strong>Gold price was traded lower following the prior retracement from the resistance level at 1939.75. \u00a0MACD which illustrated bearish bias momentum suggests the commodity to extend its losses toward the support level at 1889.55.<\/p>\n

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Resistance level: 1939.75, 1951.60<\/p>\n

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

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

28 June 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis     US dollar gained on upbeat economic data. The dollar index, which was traded against a basket of six major currencies, managed to find its ground after a series of economic data in US showed some positive sign of economic development. Last night, the US Census Bureau posted […]<\/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\/331663"}],"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=331663"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/331663\/revisions"}],"predecessor-version":[{"id":331709,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/331663\/revisions\/331709"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=331663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=331663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=331663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}