Due to the US Thanksgiving day, the market in the whole world passed in the form of “holiday mode” in general. It’s been a stagnant week on the news feed and data side. However, let’s take a brief look at the pricing.

• Oil side continued the decline it experienced last week, albeit slightly, this week;
• The EURUSD pair moved around the 1.0340 region on a low margin of around 100 pips.
• Although ounce gold saw sales during the week, it is preparing to close the week almost in the region where it was opened, just above the 1747 support.
• On the domestic side, the USDTRY parity increased its price movements to the level of 18.63 step by step.
• In the minutes of the FED November meeting published during the week, it was prominent that they discussed that the rate of increase in interest rates would slow down in the upcoming meetings. However, it was also confirmed that there was not much sign of weakening in inflation yet. While the rate of increase in interest rates decreased, the opinion that an evaluation should be made about the course of the inflation situation prevailed.

• In Germany, economic growth data for the third quarter were announced in the morning. The data are as follows.

Germany – Economic Growth (YoY – Q3): 1.2% (Exp.: 1.1%; Previous: 1.7%)

Germany – Economic Growth (QQ3): 0.4% (Exp.: 0.3%; Previous: 0.1%)

Although the German economy continues to slow down on an annual basis, it seems to have taken a breather in the third quarter. However, the fourth quarter is expected to be tough amid the energy crisis and concerns about a decrease in consumption.

• Germany GFK Consumer Confidence Index was announced as -40.2. The previous data was at -41.9. Consumer sentiment seems to have barely reacted mildly. The energy measures of the German government were largely effective in this. This situation may not be permanent.
• The deepest inverse structure of the last 15 years is seen in the German bond yield curve.
• The situation in the USA is even higher. The difference between the US 10-year and 2-year bond yields declined to -76 basis points. This shows that recession concerns still continue in both Germany and the USA.