23/05/2023 Evening Reports

Debt Ceiling Talks in the USA Start Again Today...

*In the Euro Area, the Manufacturing PMI for May, which was announced today, decreased from 45.8 to 44.6, and the Services PMI from 56.2 to 55.9. The data was expected to come at 46 and 55.6 levels, respectively. The PMI data we follow on the UK side also declined, with Manufacturing PMI 46.9 and Services PMI 55.1.

* In his speech today, Bank of England (BOE) Governor Bailey said that if there is evidence that the danger in inflation is over, if price pressures are more permanent, further tightening in monetary policy will be necessary, interest rates will be adjusted as necessary in order for inflation to return to the target in a sustainable manner in the medium term and in the private sector. He stated that wages did not increase as fast as they thought.

*US Republican Party debt ceiling negotiator Graves said in a statement that the talks between the Republicans and the White House yesterday are far from reaching an agreement and the talks will start again at 17:00 today.

Agenda of the day;
16:45 US Service PMI
16:45 US Manufacturing PMI
17:00 US Home Sales
17:35 Speech by BOE Member Haskel
23:30 US API Crude Oil Stocks

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    Support: 1.0765 – 1.0680 – 1.0585 Resistance: 1.0855 – 1.0940 – 1.1040


    EURUSD – Fluctuation in favor of the dollar continues from where it left off…

    After a minor reaction in the last two trading days, the pair continues to move in favor of the dollar today. Today it came back to 1.0765 support. For this new decline after a minor correction, we will watch the 1.0765 support during the day. Breaking this zone may deepen the movements in favor of the dollar and turn eyes to the 1.0680 support.

    In possible reactions, we will be watching 1.0855 as in the last two days.

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    Support: 137.95 – 135.15 – 132.90 Resistance: 138.80 – 139.95 – 142.30


    USDJPY – Continues to Push 138.80 Resistance…

    The Japanese Yen remains weak against the Dollar and the USDJPY pair is trading at the 138.80 resistance. This resistance has been tested for 4 days with today. Below, the 137.95 level is in front of us as intraday support. These intraday support and resistances are important. If the dollar rally continues, the 142.30 level will be on the agenda.

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    Support: 2.36 – 2.17 – 1.95 Resistance: 2.65 – 3.03 – 3.41


    Natural Gas CFD – Confirms The Trend It Has Broken After The 2.65 Attack…

    While natural gas futures prices were stuck in the narrowing triangle, it broke this triangle upwards last week and reacted to the level of 2.65. This region was one of the important resistances. As a result of the profit selling from the 2.65 resistance for the last three days, it touched the upper band of the broken triangle structure. Technically speaking, he “confirmed by returning to the area he broke”. Now the 2.36 level is intraday support and being tested. If the downtrend stops in this region and there is a reaction, now the testing phase of the medium term downtrend line from the 10:00 region can begin.

    If the 2.36 support is broken, the positive trend may end before it starts and the 1.95 level, which is the bottom zone of this year, may be on our agenda again.

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