01/06/2023 Evening Reports

ECB Member Kazaks "Interest Rates Will Remain Peak For A Time"

*The Consumer Price Index (CPI) for the month of May, announced today in the Euro Zone, remained unchanged at 0.0% on a monthly basis, but decreased from 7.0% to 6.1% on an annual basis. Core CPI, on the other hand, rose 0.2% month-on-month, rising from 5.6% to 6.1% year-on-year. In his speech after the data, ECB President Lagarde said that inflation is very high and will remain so for a very long time and there is no clear evidence that core inflation has peaked. ECB member Kazaks said it is difficult to say where interest rates will peak and that interest rates will remain at their peak for a while.

*The ADP Non-Farm Employment Change for the month of May, which we follow today, exceeded the expectations of 170 thousand and increased by 278 thousand people. Weekly Unemployment Claims, another important data announced in the USA, came in at the level of 232 thousand people, below the expectation of 235,000.

Agenda of the day;
17:00 USA ISM Manufacturing PMI
18:00 US Crude Oil Stocks
20:00 Speech by FOMC Member Harker

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    Support: 1.0635 – 1.0575 – 1.0505 Resistance: 1.0715 – 1.0775 – 1.0855


    EURUSD – 1.0715 is on the agenda again…

    The pair is recovering today after yesterday’s pullback. It was pulled back to 1.0635 yesterday. Now it is close to the 1.0715 level with the reaction received today. This level was important in the short term, as we mentioned before. If there is a daily candle close above 1.0715 again, the movement in favor of the dollar in the parity may weaken.

    We would like to remind you again that the Non-Farm Employment Report coming tomorrow will be critical in terms of the direction of the parity.

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    Support: 138.80 – 137.95 – 135.15 Resistance: 140.60- 142.30 – 145.00


    USDJPY – Initial Support at 138.80 as Yen Continues Movement…

    After reacting up to 140.60, we see the continuation of the movements in favor of the Yen today. At the same time, the slight decline in the US 10-year bond yield seems to be one of the reasons for its movements in favor of the Yen.

    USDJPY moved closer to the 138.80 support from 140.60 with the movement in favor of the Yen in the pair. This region is the first support and 137.95 is the second support as the main support.

    We will continue to monitor the 140.60 resistance for possible reactions.

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    Support: 1945/1937 – 1918 – 1895 Resistance: 1965 – 1988 – 2006 – 2022


    Ounce Gold – Reaction Over Uptrend Continues Step by Step…

    Yellow metal tested the uptrend line from 1616 (corresponding to the 1937 region) and failed to break it. The subsequent reactions continue again today and are on the fifth trading day. Today it has risen above the 1965 level. We will carefully monitor the 1988 level in the gradual rises. This region is also important in that it coincides with the 50-day average, and if it is passed, it may bring the 2022 level to the agenda.

    In possible profit sales during the day, the uptrend line, which corresponds to approximately 1945 level as of today, will be the main support line.

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