{"id":85489,"date":"2019-10-30T06:26:24","date_gmt":"2019-10-30T06:26:24","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=85489"},"modified":"2019-10-30T06:26:24","modified_gmt":"2019-10-30T06:26:24","slug":"301019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/301019-afternoon-session-analysis\/","title":{"rendered":"301019 Afternoon Session Analysis"},"content":{"rendered":"

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

Aussie recovers on inflation data.<\/strong><\/span><\/p>\n

The Aussie dollar rebounds against the greenback following the release of CPI data. According to the Australian Bureau of Statistics, Australia CPI have improved to 0.5% in the third quarter, well within market expectation. The upbeat inflation figure has helped to reinforce market sentiment while at the same time decreasing the prospect for further rate cut from Reserve Bank of Australia (RBA). Based on the official data, the probability of a 25 basis point cut for the cash rate in November now stands at only 14%. For the first time, the market no longer expect for a 25 basis point cut in the first half of year 2020. At the time of writing, AUD\/USD have rose 0.04% to 0.6864 while dollar index edge lower 0.01% to 97.42.<\/p>\n

In the commodities market, crude oil price extended its losses by 0.47% to $55.12 per barrel at the time of writing as sentiment remain pressured by fears of sluggish demand. On the other hand, gold price was traded flat near $1487.75 a troy ounce while investors remain in fixated upon further developments with regards to trade negotiation and Federal Reserve policy meeting.<\/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

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

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Monetary Policy Report<\/p>\n

23:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BOC Press Conference<\/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

(31st<\/sup>)<\/p>\n

 <\/p>\n

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
16:55<\/td>\nEUR \u2013 German Unemployment Change (Oct)<\/a><\/td>\n-10K<\/td>\n2K<\/td>\n–<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Unemployment Rate (Oct)<\/a><\/td>\n5.0%<\/td>\n5.0%<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (Oct)<\/a><\/td>\n135K<\/td>\n120K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q3)<\/a><\/td>\n2.0%<\/td>\n1.6%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/a><\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/a><\/td>\n-1.699M<\/td>\n0.494M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(31st<\/sup>)<\/td>\n

USD \u2013 Fed Interest Rate Decision<\/td>\n2.00%<\/td>\n1.75%<\/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 prior retracement from the resistance level at 97.60. However, MACD which illustrated diminishing bearish momentum suggest the dollar to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 98.15<\/p>\n

Support level: 97.05, 96.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded within a range while currently testing near the support level at 1.2850. MACD which illustrated bearish momentum suggest the pair to be traded lower after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2895, 1.2940<\/p>\n

Support level: 1.2850, 1.2815<\/p>\n

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

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1070. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1120, 1.1180<\/p>\n

Support level: 1.1070, 1.1010<\/p>\n

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

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 109.00. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 108.40.<\/p>\n

 <\/p>\n

Resistance level: 109.00, 109.55<\/p>\n

Support level: 108.40, 107.70<\/p>\n

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

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6840. MACD which illustrated bullish momentum suggest the pair to extend its gains toward the resistance level at 0.6880.<\/p>\n

 <\/p>\n

Resistance level: 0.6880, 0.6920<\/p>\n

Support level: 0.6840, 0.6800<\/p>\n

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

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded within a range while currently testing the support level at 0.6330. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6425, 0.6495<\/p>\n

Support level: 0.6330, 0.6260<\/p>\n

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

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was higher following prior breakout above the previous resistance level at 1.3080. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gain toward the resistance level at 1.3140.<\/p>\n

 <\/p>\n

Resistance level: 1.3140, 1.3200<\/p>\n

Support level: 1.3080, 1.3020<\/p>\n

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

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9925. However, MACD which illustrated bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9955, 0.9975<\/p>\n

Support level: 0.9925, 0.9905<\/p>\n

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

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 56.75. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 54.65.<\/p>\n

 <\/p>\n

Resistance level: 56.75, 58.05<\/p>\n

Support level: 54.65, 52.75<\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1482.90. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1495.50.<\/p>\n

 <\/p>\n

Resistance level: 1495.50, 1503.95<\/p>\n

Support level: 1482.90, 1473.90<\/p>\n","protected":false},"excerpt":{"rendered":"

30 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Aussie recovers on inflation data. The Aussie dollar rebounds against the greenback following the release of CPI data. According to the Australian Bureau of Statistics, Australia CPI have improved to 0.5% in the third quarter, well within market expectation. The upbeat inflation figure has helped to reinforce market sentiment […]<\/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\/85489"}],"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=85489"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/85489\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=85489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=85489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=85489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}