27/03/2023 Evening Reports
- The IFO Business World Index for March, which was announced today in Germany, improved from 91.1 to 93.3. In the evaluation made by the IFO economist, it was stated that the export expectations in the industrial sector decreased slightly, the proportion of enterprises that wanted to raise prices decreased, and the probability of recession in Germany in the winter season decreased.
- Sectoral confidence indices for March in Turkey were announced today. While the Confidence Index decreased from 89.8 to 88.5 in the construction sector, from 123.1 to 117.7 in the retail trade sector, it increased from 115.5 to 116.8 in the service sector and from 102.4 to 105.2 in the manufacturing sector. In this period, the Capacity Utilization Rate also decreased from 75.7% to 74.2%.
- Russian President Vladimir Putin said over the weekend that they will deploy tactical nuclear weapons in Belarus, without violating their international non-proliferation obligations.
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EUR/USD
EUR/USD – Rising Towards 1.0800 Resistance…
The IFO Business World Index for March, which was announced today in Germany, improved from 91.1 to 93.3. In the evaluation made by the IFO economist, it was stated that the export expectations in the industrial sector decreased slightly, the proportion of enterprises that wanted to raise prices decreased, and the probability of recession in Germany in the winter season decreased. In addition to these developments, the EURUSD parity is on the rise as concerns about the global banking sector subside. In the continuation of the rise, 1.0800 and 1.0845 can be viewed as resistance. In the pullbacks, the rising price trend that we watch in the 1.0765 and 4-hour period can create support.
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CRUDE
CRUDE – Rises Up To 70.75 Resistance…
Crude Oil rose to 70.75 resistance as concerns about the global banking sector subsided. It can be viewed as 71.25 and 72.50 resistance when this level is exceeded and above. As long as it stays below this level, we can see pullbacks. In this case, 70.15 and 69.50 can be followed as support.
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GAU/TRY
GAU/TRY – Retracement After Resistance Encountered at 1228.10 Level…
The resistance of 1228.10 in Gr Gold TL was tested 2 times but could not be passed. As this level could not be exceeded and the concerns about the global banking sector decreased, Gr Gold TL was withdrawn. In the continuation of the pullback, 1182 and 1175 can be viewed as support. On the upside, 1202 and 1214 can form resistance.
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