16/10/2023 Evening Reports

Global Economic Insights: Inflation Trends, Trade Surplus, and Market Movements…

*In his speech, Pill from the Bank of England said, “Falling inflation is not enough to say that the job is over. We are committed to reaching the 2% Target, but we still have work to do. “We never want to overdo the tightening.” He made his statements.

*US Treasury Secretary Yellen said in her speech: “High interest rates may be permanent, but this is not certain. We must be careful about the financial path we follow. “It is too early to predict whether the Israel-Hamas conflict will have significant economic consequences.” He made a statement.

*FED’s Goolsbee said in his speech: “There are many views that inflation is on a downward trend compared to what it has been in the past, and that’s what we want. There’s no denying that this is a trend; it’s not a one-month decline. We have to hope and watch to make sure that continues.” .” said.

*The trade balance in the Eurozone in August had a surplus of 6.7 billion euros. In the previous data, the trade balance had a surplus of 6.3 billion euros.

*There was a slight increase in the US bond market. 10-year bonds are at 4.71%, 2-year bonds are at 5.09%. The dollar index moves around 106.5.

*There were slight retreats at the start of the new week in the gold and oil markets, which experienced rapid rises due to geopolitical concerns. Brent oil is traded at 90.55 and ounce gold is traded at 1918 levels.

Account Opening

Open A Demo

CDO has wide range of tools, professional and friendly support for clients to achieve their financial markets trading goals. Open a live account now to enjoy this experience with virtual deposit.

    Support:  1.0490 – 1.0450 – 1.0395 Resistance:  1.0575 – 1.0630 – 1.0695


    EURUSD – Started the Week with an Rising Rise and Headed to the Downtrend Line Again…

    The parity started the new week with an increase again at 1.0490. Last week, it rose to the downtrend line at 1.1260 and retreated strongly by testing this region.

    We will be watching for possible movements to this downtrend line again in the ongoing upward movement as of the beginning of this week. At the stage when this trend line is broken by the daily candle, it can be predicted that movements in favor of the dollar will weaken in the short term and be replaced by movements in favor of the Euro.


    Account Opening

    Open A Live Account

    CDO has wide range of tools, professional and friendly support for clients to achieve their financial markets trading goals. Open a live account now to enjoy this experience with virtual deposit.

    Support: 1902 – 1890 – 1877 Resistance: 1930 – 1953 – 1984


    Ounce Gold – Started with Profit Selling from Last Week’s 1930 Peak…

    On the last trading day of last week, there was a strong rise in the yellow metal against the risk of the spread of the Hamas-Israel war. The yellow metal, which started the day at 1875 levels, closed both the day and the week at 1930.

    As of the new week and weekend, the war and its effects are still not over. However, the slight softening in the rhetoric brought about profit sales in the yellow metal, which suddenly rose excessively.

    In the short term, the 1890 level will appear as an important support in intraday movements.

    In intraday attacks, the 1930 resistance seems important.

    Forex Mobile & Desktop App


    CDO TRADER, our cutting-edge trading platform, follows the technology from the forefront with new features added continuously. Moreover, CDO TRADER is now available for Android and iOS! So it allows you to trade on the go!

    Support:  89.15 – 87.60 – 84.30 Resistance: 91.40 – 93.30 – 97.60


    BRENT – We Are Watching the Reactions in 89.15 Support…

    On the last trading day of last week, oil prices rose strongly due to the escalation of the Hamas-Israeli war and the possibility of it spreading/hardening further. The slight relaxation in the extremely harsh climate in the new week caused some profit selling in this rapidly rising oil market. We will focus on the 89.15 support during the day. As long as it stays above this zone in the short term, the rise may be triggered again step by step.

    Intraday resistance is at 91.40.

    Forex Trading Platforms

    MetaTrader 4

    MT4 has user friendly interface that is providing simplicity and efficiency. The traders can perform trading strategies for different products like Forex and CFD. MetaTrader 4 has over 50 built-in indicators, also it’s the tool that predicts trends and defines the appropriate entry and exit points.

    Forex MetaTrader 4 All Img
    CDO Markets Limited - FX Trading

    Contact Us

    Please, fill the form to get an assistance.