22/12/2022 Evening Reports

Dollar Index Gains Value After US Data...

In the UK, the GDP we track for the third quarter fell short of expectations, shrinking by 0.3% on a quarterly basis, while growing by 1.9% on an annual basis. The economy was expected to contract by 0.2% on a quarterly basis and to grow by 1.9% on an annual basis.

After the meeting held today, the CBRT did not change the 9% interest rate as expected. In the statement, it was stated that the disinflationary process is foreseen to begin with the re-establishment of the global peace environment, together with the steps taken and determinedly implemented to strengthen sustainable price stability and financial stability.

The US GDP for the third quarter, which was announced today, grew by 3.2%, exceeding the expectations of 2.9%. The PCE Price Index, which was closely followed by the FED during the interest rate hike, increased by 4.3% and the Core PCE Price Index increased by 4.7%. In the previous data, the PCE Price Indices came in at 4.3% and 4.6% respectively. After the strong data, the Dollar Index gained value with the expectations that the FED will continue to increase interest rates.

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    Support Level: 78.25-76.70-75.74 Resistance Level: 79.74-80.78-81.77

    CRUDE

    CRUDE – Rises Up To 79.74 Resistance…

    Weekly crude oil stocks, which we tracked yesterday in the USA, decreased by 5,895 million barrels. The rises, which started with the effect of decreasing stocks, continued until the resistance of 79.74. It is also withdrawn after the resistance encountered at this level. In pullbacks, 78.25 and 76.70 can be viewed as support. In upward transactions and pricing above 79.74 level, 80.78 and 81.77 may form resistance.

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    Support Level: 1.2050-1.2000-1.1915 Resistance Level: 1.2100-1.2138-1.22045

    GBP/USD

    GBP/USD –  It Fell to The Lower Band of The Channel After The Shrinking Economy…

    In the UK, the GDP we track for the third quarter fell short of expectations, shrinking by 0.3% on a quarterly basis, while growing by 1.9% on an annual basis. The economy was expected to contract by 0.2% on a quarterly basis and to grow by 1.9% on an annual basis.

    With the effect of the economy shrinking more than expected and the resistance encountered in the upper band of the falling price channel we watch hourly, GBPUSD parity fell to the lower band of the channel. In case of holding on the lower band, 1.2100 and 1.2138 resistance can be observed. In case of a downward exit from the channel, the downward momentum may increase.

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    Support Level: 1082.45-1068-1058 Resistance Level: 1092.95-1100-1107

    GAU/TRY

    GAU/TRY – Rising Towards 1092.95 Resistance After Interest Rate Decision…

    After the meeting held today, the CBRT did not change the 9% interest rate as expected. In the statement, it was stated that the disinflationary process is foreseen to begin with the re-establishment of the global peace environment, together with the steps taken and determinedly implemented to strengthen sustainable price stability and financial stability.

    After the interest rate decision and the explanations, Gr Gold TL is rising towards the resistance of 1092.95. This level was also tested yesterday but could not be passed. If this level is exceeded and above, 1110 and 1107 can be viewed as resistance. In pullbacks, 1082.45 and 1068 can form support.

     

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