07/09/2023 Evening Reports
*The GDP for the second quarter announced today in the Euro Zone was below expectations, showing quarterly growth of 0.1% and annual growth of 0.5%. The economy was expected to grow 0.3% and 0.6% respectively.
*The weekly unemployment benefit applications announced in the USA during the day were announced as 216,000, coming to the lowest level in recent times. With this data, we see that the employment market in the USA continues to remain strong. Following the data, the dollar index continued to gain value and fell below 1.07.
Agenda of the day;
18:00 US Crude Oil Stocks
18:45 Speech by Fed Goolsbee
21:10 Speech by Governor of the Bank of Canada Macklem
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EURUSD
EURUSD – Below 1.07 for the First Time Since June…
The pair has become very sensitive to any good or bad data coming from the USA.
U.S. jobless claims came in at 216,000, a recent low. This indicates that the employment market in the US still remains strong and the FED is hawkish.
After this data, the parity fell below 1.07 and hit the lowest level of 1.0685 during the day.
The parity fell below the 200-day average last week and this technical image continues to put pressure on the parity. The next important support is the 1.0665 level.
Among the possible reactions, we will be watching 1.0765 on a weekly basis, although the first is the psychological level of 1.07.
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XAUUSD
Ounce Gold – Slight Reaction to 1920 During the Day…
The yellow metal reacted 3 days later after the decline it started in 1953 and is priced at the 1920 resistance. Generally speaking, it would be technically premature to talk about 1984 without seeing a hold above 1953, and the pressure on the yellow metal may continue as long as it stays below 1953 in intraday movements.
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USDJPY
USDJPY – Near 147.65 Resistance, Initial Support 146.50…
The Japanese Yen continues to be priced at this year’s bottom values. USDJPY parity is priced at 147.65 resistance and has been testing here for three days. There has been some decline today, but in general, as long as it holds above the 146.50 support, it can be predicted that the movements in favor of the dollar will gradually continue in the parity and rise towards 150 step by step.
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