{"id":93029,"date":"2019-12-17T01:16:16","date_gmt":"2019-12-17T01:16:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=93029"},"modified":"2019-12-17T01:16:16","modified_gmt":"2019-12-17T01:16:16","slug":"171219-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/171219-morning-session-analysis\/","title":{"rendered":"171219 Morning Session Analysis"},"content":{"rendered":"

17 December 2019\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 Morning Session Analysis<\/strong><\/p>\n

Sterling slumped amid to bleak data from the UK region<\/strong><\/span><\/p>\n

The Pound Sterling surged on the early Monday, boosted by last week\u2019s general election victory for the pro-Brexit Conservative party, however, such pair received some bearish momentum following the bleak data from the UK region was released. The win for the Conservative Party enhanced the strength for the pair as the investors perceived that his party had the highest ability to end the Brexit uncertainty, which hurting the economic growth in the UK. However, the gains experienced by the Pound Sterling was limited following the data from the UK regions was published. According to Markit Economics, U.K. Composite Purchasing Managers\u2019 Index (PMI) notched down from 49.3 to 48.5, missing the economist forecast at 49.6. Meanwhile, U.K. Manufacturing Purchasing Managers Index (PMI) came in at 47.4, lower than the market forecast at 49.3 and U.K. Services Purchasing Managers Index (PMI) came in at 49.0, which also fared worse than expectation. However, according to Reuters, market participants still relatively optimistic over the outlook for the pound sterling following the resounding electoral win for the Conservative Party. On the other hand, dollar index was held steady on yesterday, as market participants are still waiting for further details with regards of the U.S.-China trade agreement. As of writing, GBP\/USD slumped 0.54% to 1.3255 while dollar index depreciated by 0.03% to 96.55.<\/p>\n

In the commodities market, crude price rose yesterday as market participants expected the resolution of trade war may improve the global economic growth, which might prop up future demand for the commodity. On the other hand, gold price received some bearish momentum amid to positive prospect for the US-China trade deal, which spurring some sell-off for the safe-haven metal. As of writing, crude oil price depreciated by 0.13% to $60.03 per barrel while gold price slumped 0.044%% to $1475.15 per troy ounces.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
17:30<\/td>\nGBP – Average Earnings Index +Bonus (Oct)<\/td>\n3.6%<\/td>\n3.4%<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Claimant Count Change (Nov)<\/td>\n33.0K<\/td>\n21.3K<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\nUSD – Building Permits (Nov)<\/td>\n1.461M<\/td>\n1.400M<\/td>\n–<\/td>\n<\/tr>\n
23.00<\/td>\nUSD – JOLTs Job Openings (Oct)<\/td>\n7.024M<\/td>\n–<\/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 breakout below the previous support level at 96.90. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 96.30.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.35<\/p>\n

Support level: 96.30, 95.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3235. MACD which illustrated diminishing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3490, 1.3685<\/p>\n

Support level: 1.3235, 1.2985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1160. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.1080.<\/p>\n

 <\/p>\n

Resistance level: 1.1160, 1.1220<\/p>\n

Support level: 1.1080, 1.0995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 109.65. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 109.35.<\/p>\n

 <\/p>\n

Resistance level: 109.65, 109.95<\/p>\n

Support level: 109.35, 109.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6860. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6925, 0.6985<\/p>\n

Support level: 0.6860, 0.6800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6600. 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: 0.6600, 0.6660<\/p>\n

Support level: 0.6530, 0.6475<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3130. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3185.<\/p>\n

 <\/p>\n

Resistance level: 1.3185, 1.3225<\/p>\n

Support level: 1.3130, 1.3080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded within a range while currently near the support level at 0.9810. MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9860, 0.9895<\/p>\n

Support level: 0.9810, 0.9765<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 58.85. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 60.70.<\/p>\n

 <\/p>\n

Resistance level: 60.70, 62.00<\/p>\n

Support level: 58.35, 57.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was higher following prior rebound from the support level at 1473.80. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1478.10.<\/p>\n

 <\/p>\n

Resistance level: 1478.10, 1482.70<\/p>\n

Support level: 1473.80, 1469.55<\/p>\n

 <\/p>\n

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

17 December 2019\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 Morning Session Analysis Sterling slumped amid to bleak data from the UK region The Pound Sterling surged on the early Monday, boosted by last week\u2019s general election victory for the pro-Brexit Conservative party, however, such pair received some bearish momentum following the bleak data from the UK region was released. The win […]<\/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\/93029"}],"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=93029"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/93029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=93029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=93029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=93029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}