{"id":63807,"date":"2019-06-13T01:18:16","date_gmt":"2019-06-13T01:18:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=63807"},"modified":"2019-06-13T01:18:16","modified_gmt":"2019-06-13T01:18:16","slug":"130619-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130619-morning-session-analysis\/","title":{"rendered":"130619 Morning Session Analysis"},"content":{"rendered":"

13 June 2019\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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Greenback soars despite tame CPI data.<\/strong><\/span><\/p>\n

US dollar managed to appreciate against its other major peers despite subdued inflation data from the region. According to US Bureau of Statistics, Core CPI for the month of May rose by 0.1%, missing economist forecast to remain stable at 0.2%. The lower than expected inflation reading has further cemented market expectation for an interest rate cut from the Federal Reserve. However, traders poured into the greenback as a rate cut would highly benefit US firms that may promote expansion and growth. Likewise, US dollar received higher long orders after US President Donald Trump expressed optimism on reaching a successful trade deal with China. In a post released on his official Twitter, Trump said he had a \u201cfeeling\u201d that a trade deal can be reached but threatened to increase tariffs if it falters. For the time being, Fed Rate Monitor Tools shows an 85% chance of a rate cut during Fed\u2019s policy meeting by the end of July. As of writing, the dollar index was quoted up 0.29% to 96.90. On the other hand, pair of USD\/JPY rose 0.05% to 108.48 as of writing. Safe-haven Japanese yen was dumped on yesterday following Trump\u2019s \u201coptimism\u201d in reaching consensus with China on trade deal.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price ticked down 0.02% to $51.06 per barrel. Oil futures extended its losses after Energy Information Administration (EIA) reported an increase in last week\u2019s oil inventories by 2.206 million barrels, missing economist forecast for a reduction of -0.481 million barrels. Similarly, gold price depreciates by 0.04% to $1,332.99 a troy ounce due to a rebound in greenback.<\/p>\n

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 <\/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

15:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0SNB Monetary Policy Assessment<\/p>\n

16:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0SNB Press Conference<\/p>\n

19:00\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 \u00a0OPEC Monthly Report<\/p>\n

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\n<\/u><\/p>\n

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German CPI (MoM) (May)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
15:30<\/td>\nCHF \u2013 SNB Interest Rate Decision<\/td>\n-0.75%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Industrial Production (MoM) (Apr)<\/td>\n-0.3%<\/td>\n-0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Import Price Index (MoM) (May)<\/td>\n0.2%<\/td>\n-0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n218K<\/td>\n215K<\/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 higher following a rebound from the upward trendline. MACD which illustrate diminished downward momentum suggests the index to advance further up, towards the direction of 97.05.<\/p>\n

 <\/p>\n

Resistance level: 97.05, 97.50<\/p>\n

Support level: 96.35, 95.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retrace from the resistance of 1.2745. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.2630.<\/p>\n

 <\/p>\n

Resistance level: 1.2745, 1.2790<\/p>\n

Support level: 1.2630, 1.2515<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing at the bottom level of upward channel. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the bottom level.<\/p>\n

 <\/p>\n

Resistance level: 1.1335, 1.1380<\/p>\n

Support level: 1.1275, 1.1220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher, towards the direction of 108.70.<\/p>\n

 <\/p>\n

Resistance level: 108.70, 109.15<\/p>\n

Support level: 108.40, 107.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower after breaking the support level near 0.6940. MACD which illustrate persistent downward momentum suggests the pair to extend its losses in mid-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6940, 0.6965<\/p>\n

Support level: 0.6900, 0.6860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from its higher levels. However, MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

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Resistance level: 0.6590, 0.6615<\/p>\n

Support level: 0.6555, 0.6490<\/p>\n

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\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from its higher levels. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3375, 1.3420<\/p>\n

Support level: 1.3315, 1.3280<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower while currently testing at the support level of 0.9945. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term after closing below 0.9945.<\/p>\n

 <\/p>\n

Resistance level: 0.9975, 1.0000<\/p>\n

Support level: 0.9945, 0.9915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level of 50.55. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 51.40, 53.00<\/p>\n

Support level: 50.55, 47.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within a sideways channel following prior retrace from the top. MACD which illustrate diminishing upward momentum suggests its prices to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1340.00, 1335.00<\/p>\n

Support level: 1321.00, 1302.00<\/p>\n","protected":false},"excerpt":{"rendered":"

13 June 2019\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   Greenback soars despite tame CPI data. US dollar managed to appreciate against its other major peers despite subdued inflation data from the region. According to US Bureau of Statistics, Core CPI for the month of May rose by 0.1%, missing economist forecast to remain stable at 0.2%. 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\/63807"}],"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=63807"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/63807\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=63807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=63807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=63807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}