25/09/2023 Evening Reports
-BOJ President Ueda stated that the Japanese economy continues to recover moderately and that monetary expansion should continue. He stated that they aim for inflation to change gradually and the wage-inflation cycle to strengthen.
-Kazaks from the European Central Bank said that the increase in September may pause in October.
-Ifo Business Climate Index in Germany was announced as 85.7 in September, compared to 85.8 in the previous month.
-Villeroy from the European Central Bank stated that they expect positive growth in 2024-25 and that it would be preferable for inflation to reach the target with a soft landing.
-De Cos from the European Central Bank said that if interest rates are kept at 4% for a long time, they can reach the 2% target and structural reforms are needed.
-Japanese Prime Minister Kishida announced that he will order the preparation of an economic package and aims to support private consumption and investment expenditures.
-Goolsbee from the FED said that it is unusual for inflation to fall without unemployment rising and that interest rates may remain high for a long time.
-ECB President Lagarde stated that employment in the services sector is slowing down and inflation continues to fall.
-Schnabel from the European Central Bank stated that the inflation problem is not yet clear and the contraction in monetary aggregates is not a sign of recession.
EURUSD – Withdrawn to 1.0605 Support…
Downward pricing was effective in the parity after the opening at 1.0649 today. The declines continued until the support of 1.0605 and this support is being tested momentarily. If the 1.0605 support cannot be maintained, retreats towards the 1.0540 level may accelerate and this level may form support. In upward movements, 1.0670 level can be followed as resistance.
Ounce Gold – Continues to Hold Above the 1920.50 Support…
The yellow metal, which received upward reactions from the 1920.50 region at the close of last week and closed above this level, continued to remain above the 1920 level on the first day of the new week. As the days pass, the triangle formation is approaching its end. Increases or decreases that may come from the triangle region can be a guide for the direction of the yellow metal. For now, in the short term, the lower and upper bands of the triangle can be followed as support/resistance.
GBPUSD – Retracted to 1.2200 Region…
There was a downward slide in the parity from the 1.2305 support, which is one of the main supports, towards the close of last week. As we started the new week, the declines continued to lower levels. After the daily opening at 1.2241, there was a retreat to the 1.2200 support level and this support level is being tested momentarily. In case of upward reactions from this region, 1.2305 level may constitute resistance. If the 1.2200 support cannot be maintained, retreats towards the 1.2000 region may continue step by step.
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