17/04/2023 Evening Reports
* On the first trading day of the week, there was a calm in the global markets in terms of economic data. Market pricing was also generally calm in the European session.
*The balance sheet period has started in foreign markets and this may increase the volatility in global stock markets in the coming days. On Tuesday, we will follow the balance sheets of Bank of America, Goldman Sachs, Netflix and Johnson & Johnson.
* On the major instruments side, EURUSD parity was priced at 1.0970 levels during the day, while the yellow metal Ounce Gold moved around 2010 $.
*New York Empire State Manufacturing Index realized as 10.8 (Previous: -24.6) After this good data, EURUSD parity fell to 1.0935 and Ounce Gold fell below $2000.
* Speaking during the day, ECB Member Kazaks stated that at the May meeting of the European Central Bank, they face 25 or 50 basis points interest rate hikes as two possibilities. 2 days after the ECB meeting, European inflation may be effective in this decision.
*This week will be the last week for FED members to express their opinions before the May 2 meeting. Members will enter the blackout period on Saturday and will not be able to make any interviews/statements on monetary policy.
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EUR/USD
EURUSD – Pullbacks Up to 1.0938 Level…
At the beginning of the new week in Euro-dollar parity, prices are watching in favor of the dollar. There was a downside break of 1.0972 Level and there were pullbacks to 1.0938 level. In downside pricing, 1.0935 and 1.0873 levels can form support, respectively. On the upside pricing, the 1.0972 level may form resistance.
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BRENT
Brent – Drops Continue To 85.56 Level…
Brent oil started the new week under the influence of the downward trend. Pullbacks took place up to 85.56 level. Buying from this level continues to create support. In case the pullbacks get stronger and the 85.56 level is broken to the downside, there may be decreases towards 83.94 and this level may form support. In upward pricing, 86.54 level can be followed as resistance.
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XAU/USD
Ounce Gold – 1998.35 Level Being Tested…
The yellow metal is pricing in pullbacks after surging to around $2048 last week. At the beginning of the new week, there were retreats until the support of 1998.35. This level continues to be tested. In the continuation of the downward pricing, the level of 1990.75 may come to the fore and create support. In upward pricing, it can be followed as the 2007.35 resistance level.
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