25/10/2023 Evening Reports
*Seasonally Adjusted Real Sector Confidence Index for October, which we follow today in Turkey, increased from 105.1 to 105.3. From other data, the Service Sector Confidence Index increased from 113.0 to 113.6, while the Retail Trade Sector Confidence Index decreased from 117.7 to 113.
*IFO Business Environment Index for October, announced today in Germany, increased from 85.8 to 86.9. In the evaluation made after the data, it was stated that German companies had difficulty in finding new loans due to high interest rates and slowing economic growth.
*This evening, ECB President Lagarde will give a speech at 20:00, and FED President Powell will give a speech at 23:35. Lagarde and Powell are expected to make statements about whether the interest rate increase process will continue and the course of the economies.
Agenda of the Day:
17:00 Bank of Canada Interest Rate
17:30 US Crude Oil Stocks
20:00 Speech by ECB President Lagarde
23:35 Speech by FED Chairman Powell
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EURUSD
EURUSD – Testing 1.0575 Support with Retreat Trend…
The pair continues to maintain the downward trend triggered from 1.0695. The parity, which approached the 1.0575 support yesterday, is testing this level strongly today. If it falls below this level, there may be a possibility of withdrawing again to 1.0450.
In possible reactions, eyes will be on 1.0695 resistance.
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XAUUSD
Ounce Gold – The Decline Remains Limited, It Is Pushing The 1977 Resistance Again…
On the Ounce Gold side, the downward trend continued to be limited to the 1944 region. Prices, which dropped to 1950 yesterday, recovered during the day and caused the day to close at 1975 levels. Today, the 1977 resistance is being tested with a slight rise.
If daily candle closings occur above 1977, this movement may carry the yellow metal to the 2000+ region. We will follow this and the first resistance to pass is the 1977 level.
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NASDAQ
Nasdaq – Two-Day Reaction Gives Place to Profit Selling…
Nasdaq futures index retreated strongly to 14605 support during the week. With this decline, it fell to 14515, but the daily closing remained above 14605. The reactions up to 14856 on Monday and Tuesday have ended and we are seeing profit sales from the 14855 resistance.
Now, while 14855 is followed as resistance and 14605 as support in intraday movements, a strong selling wave may be triggered if 14605 is broken with the closing of the daily candle.
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