08/05/2023 Evening Reports
*Global markets started the new week calmly due to the UK holiday. US futures stock indexes continued to maintain their upward trend from last Friday.
*Inflation data coming from both Germany and the USA on Wednesday will be very important in the new week and will greatly affect the pricing.
*While watching the Bank of England on Thursday, we will follow up with FOMC members who will start talking again during this time.
*When we look at the FED Watch indicator, which is formed towards the evening hours as of the new week, it is predicted that the FED interest rates will remain constant in the range of 5-5.25% with 89% probability. This was a 68% probability a week ago. In addition, the markets are still predicting a rate cut at the September 20 meeting.
*The US 10-year bond yield continues to maintain its recent 3.60-3.30% movement, taking 3.30% as support.
*EURUSD parity is over 1.10 and Ounce Gold is over $2000.
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EURUSD
EURUSD – Priced Around 1.1033…
In the pair, after the declines outside the ascending channel last week, there was an attempt to enter this channel again. However, the prices could not hold in this channel and moved out of the channel again. The upward trend has left its place to horizontal pricing in its current state. Instant pricing continues around 1.1035.
In case the upside strengthens, the 1.1070 level may show resistance. In retracements, 1.1033 and 1.1000 levels can be followed as support, respectively.
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CRUDE OIL
Crude – Resistance Level is 73.12
With the reactions received after the strong pullbacks in crude oil, the upward trend continues to show its effect. The 73.12 level is showing resistance in the continuing upwards. In the continuation of the upward pricing, the 74.33 level can be followed as a resistance. In retracements, 72.14 level can create support.
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XAUUSD
XAUUSD – Priced Around 2022…
The yellow metal, which saw 2078.58 with strong rises last week, saw 1999.45 with pullbacks. No matter how volatile the price movements were, the 2000 level continued to be protected in the pullbacks. At the beginning of the new week, the slight upward trend continues to show its effect. In the case of the upside pricing of the yellow metal, which is priced around 2022 momentarily, the 2035 level can be viewed as a resistance. In the pullbacks, the 2007.35 level can create support.
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