14/08/2023 Evening Reports
*Panic caused by the shutdown of bond trading amid debt problems and loss expectations after Chinese construction company Country Garden has been in default since 2021. Company shares fell 16 percent and hit a record low. The situation has worried the real estate industry, except for Cauntry Garden. We will be following developments closely.
*In the statement made by the German Ministry of Economy, it was stated that the current indicators do not point to a sustainable economic recovery in the coming months, the growth momentum in foreign trade has not been gained, and the dynamics in the labor market may decrease in the coming months.
*US Treasury Secretary Janet Yellen stated that they are trying to create a resilient, flexible and diversified clean energy supply chain in order to protect the economic security of the USA, but they also take precautions against the risks posed by excessive concentration in this area.
*US 10-years reached 4.21% for the first time since 8 November. 2-years continues at the level of 4.96%.
* The sharp decline in EURUSD parity continued. The daily low was seen as 1.0874. Ounce gold fell to the level of 1902.70. The dollar index has reached 103.40 levels.
EURUSD – Reached 1 Month Low…
The downward trend in the parity was also effective in the new week. The decreases continued to the level of 1.0901 and thus the lowest levels of the last 1 month were seen. If the downside continues, the 1.0890 level can create support. On the ups, 1.0935 and then 1.0948 levels can form resistance.
Ounce Gold – Sagging Below 1910 Support…
Pullbacks in yellow metal sank below 1910 support as we enter the new week. However, the support reactions at the 1910 level weaken the declines. If the downside breakout from this support level gets stronger, pullbacks may gain momentum. In upward pricing, 1920.50 level may form resistance.
Crude Oil – Starts Week With a Drop…
Crude oil had risen as high as 84.86 resistance last week. The subsequent withdrawals continued on the first day of the new week. Instant pricing continues just above the intraday low of 81.98. These levels are also testing the uptrend line from the 67 level. In the continuation of the pullbacks, the 81.50 level may form support. On the rise, 83.34 and 84.86 levels can be followed as resistance, respectively.
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