{"id":80959,"date":"2019-10-01T06:03:20","date_gmt":"2019-10-01T06:03:20","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=80959"},"modified":"2019-10-01T06:03:20","modified_gmt":"2019-10-01T06:03:20","slug":"011019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/011019-afternoon-session-analysis\/","title":{"rendered":"011019 Afternoon Session Analysis"},"content":{"rendered":"

1 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Pound slump despite positive economic data.<\/strong><\/span><\/p>\n

Pound Sterling slump despite recent economic data from the region fared better than expected. According to Office for National Statistics, U.K Gross Domestic Product (GDP) came in at 1.3%, exceeding the economist forecast of 1.2% for the second quarter. In addition, U.K. Business Investment notched up from -0.5% to -0.4% for the month of August, which is also higher than the economist forecast. In addition, Britain\u2019s government on Monday dismissed opposition suggestions that Prime Minister Boris Johnson faces a financial conflict of interest over Brexit after receiving donations from fund managers who may be shorting in Pound Sterling. However, such positive sentiment still unable to provide a bullish support on Pound Sterling, amid to bleak data on U.K. Current Account. In fact, investors would continue to scrutinize the clue from the Brexit latest update in order to gauge the movement of the currency. On the other hand, Japanese Yen surge amid to recent economic data performance exceed the expectation. According to Bank of Japan, Japan Tankan Large Manufacturers Index exceed the forecast for a reading of 2, came in at 5 for the month of September. Higher than expected reading should deliver a positive economic prospect for the region, providing the bullish support toward Japanese Yen. In addition, risk appetite ebbed on caution about unstable global environment, spurring the demand for safe-havens such as Japanese Yen, says Bloomberg. As of writing, GBP\/USD slump 0.04% to 1.2279, while USD\/JPY rose 0.13% to 108.19.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.61% to $54.51 per barrel amid to lower output from U.S., Russia and OPEC, says Reuters. On the other hand, gold price depreciated by 0.33% to $1467.55 per troy ounces amid to stronger greenback.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 HKD\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 Hong Kong \u2013 National Day<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\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 China \u2013 National Day<\/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

00:45 (2nd<\/sup>)\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 Draghi Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Sep)<\/td>\n43.5<\/td>\n41.1<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (Sep)<\/td>\n47.4<\/td>\n47.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Sep)<\/td>\n1.0%<\/td>\n1.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Jul)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Sep)<\/td>\n49.1<\/td>\n50.4<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Sep)<\/td>\n47.4<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(2nd<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n1.400M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing near the resistance level 99.25. However, MACD which illustrate diminishing bullish momentum suggest the dollar to experience a technical correction in short term towards the support level 98.85.<\/p>\n

 <\/p>\n

Resistance level: 99.25, 99.80<\/p>\n

Support level: 98.85, 98.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support of 1.2260. MACD However, MACD which illustrate bullish bias signal suggest the pair to be traded higher in short term towards the resistance level 1.2385.<\/p>\n

 <\/p>\n

Resistance level: 1.2385, 1.2495<\/p>\n

Support level: 1.2260, 1.2165<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.0915. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 1.0850.<\/p>\n

 <\/p>\n

Resistance level: 1.0915, 1.0965<\/p>\n

Support level: 1.0850, 1.0770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level 108.35. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 108.35.<\/p>\n

 <\/p>\n

Resistance level: 108.35, 109.20<\/p>\n

Support level: 107.55, 107.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level 0.6745. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6805, 0.6850<\/p>\n

Support level: 0.6745, 0.6690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support of 0.6235. MACD which illustrate bearish momentum signal suggests the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6270, 0.6325<\/p>\n

Support level: 0.6235, 0.6200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel following recent rebound from thre support level 1.3235. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to be traded higher in short term towards the resistance level 1.3305.<\/p>\n

 <\/p>\n

Resistance level: 1.3305, 1.3365<\/p>\n

Support level: 1.3235, 1.3185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level 1.0005. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.0005, 1.0095<\/p>\n

Support level: 0.9940, 0.9855<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level 55.30. However, MACD which illustrate diminishing bearish momentum suggest the commodity to be traded higher as a short term technical correction towards the resistance level 55.30.<\/p>\n

 <\/p>\n

Resistance level: 55.30, 58.35<\/p>\n

Support level: 53.00, 50.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level 1487.35. MACD which illustrate persistent bearish momentum signal suggest the commodity to extend its losses towards the support level 1452.15.<\/p>\n

 <\/p>\n

Resistance level: 1487.35, 1512.75<\/p>\n

Support level: 1452.15, 1413.85<\/p>\n

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

1 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Pound slump despite positive economic data. Pound Sterling slump despite recent economic data from the region fared better than expected. According to Office for National Statistics, U.K Gross Domestic Product (GDP) came in at 1.3%, exceeding the economist forecast of 1.2% for the second quarter. In addition, U.K. Business […]<\/p>\n","protected":false},"author":61,"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\/80959"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=80959"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/80959\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=80959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=80959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=80959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}