22/09/2023 Evening Reports

BOJ Governor Ueda: "We will not hesitate to take additional monetary easing steps when necessary."

– The Bank of Japan (BOJ) maintained its -0.10% interest rate, with President Ueda stating they are ready to implement further monetary easing as needed. They also expressed uncertainty about achieving a 2% inflation target and didn’t outline a specific strategy beyond it. Exchange rates and financial markets are closely monitored.

– UK retail sales for August rose by 0.4%, slightly below the anticipated 0.5% increase, and annual data showed a -1.4% contraction, slightly worse than the expected -1.2%. UK services PMI fell from 49.5 to 47.2, while manufacturing PMI increased from 43.0 to 44.2, both below the positive 50 threshold.

– In Germany, manufacturing PMI rose from 39.1 to 39.8, and services PMI increased from 47.3 to 49.8, remaining below the 50 threshold.

– Eurozone manufacturing PMI dipped slightly to 43.4, while services PMI increased to 48.4, both signaling negativity in sectoral activities below the 50 threshold.

– Canadian retail sales for July increased by 0.3%, slightly below the expected 0.4% rise.

– In the USA, manufacturing PMI climbed by 1.0 point to 48.9, surpassing expectations. However, services PMI declined by 0.3 points to 50.2, missing the expected 0.1 point increase.

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    Support: 1.0605 – 1.0540 – 1.0480 Resistance:  1.0670 – 1.0770 – 1.0845


    EURUSD – Prices Are Horizontal in the Range of 1.0605/1.0670…

    Today’s pricing outlook for the parity is the same as last day’s outlook. Prices are traded between 1.0605 – 1.0670. In short-term movements, these levels may continue to form support and resistance. If these levels are exceeded, the 1.0770 level in the upper region can be followed as resistance. In the lower region, 1.0540 level may form support.

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    Support: 1920.50 – 1910 – 1896 Resistance: 1939.50 – 1954.50 – 1972.25


    Ounce Gold – There were upward reactions from the 1920.50 level…

    The prices of the yellow metal, which fell below the 1920.50 support the previous day, were not permanent at the daily close and the closing took place at the 1920.50 support. Today, with the upward reactions coming from this support, the fluctuating appearance of ounce gold priced around 1927 continues. There may be a sudden upward or downward movement in the short term in the yellow metal, which is gradually getting stuck in the intersection area of ​​the narrowing triangle appearance.

    In case of an upward move from the triangle area, 1939.50 and 1954.50 levels can be followed as resistance, respectively. In case of a downward trend, 1896 and 1880 levels may form support.

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    Support: 1.2200 – 1.2000 – 1.1810 Resistance: 1.2305 – 1.2360 – 1.2450


    GBPUSD – 1.2305 Resistance Couldn’t Be Passed…

    The parity had an outflow from the lower band of the downward channel the other day. These exit attempts continued today. In attempts to rise, the 1.2305 resistance continues to create downward reactions. In the continuation of downward pricing, the 1.2200 level may form support. In case of upward pricing, if the resistance of 1.2305 is exceeded, the level of 1.2360 can be followed as resistance.

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