27/07/2023 Evening Reports
*As expected, the European Central Bank (ECB) increased the policy rate by 25 basis points to 4.25% at its meeting today. In the statement, it was stated that inflation continues to decrease, but it is expected to remain high for a long time and the ECB is determined to ensure that inflation returns to the medium-term target of 2% in a timely manner. ECB President Lagarde also said that the short-term outlook is worsening, the services sector is more flexible, the momentum is slowing, the manufacturing sector is down and foreign demand is also weak. Along with these developments, the Euro depreciated, while the Dollar Index appreciated.
*In the US, the GDP that we track for the second quarter grew by 2.4%, which is higher than the expected 1.8%. Growth was 2.0% in the previous quarter. Durable Goods Orders announced at the same time also came in better than expected and increased by 4.7%. Weekly Unemployment Benefit Applications, on the other hand, remained below the expectation of 235 thousand and realized at the level of 221 thousand.
Agenda of the day;
17:30 US Natural Gas Stocks
23:30 FED Balance Sheet
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EURUSD
EURUSD – Falling After ECB Decision…
As expected, the European Central Bank (ECB) increased the policy rate by 25 basis points to 4.25% at its meeting today. ECB President Lagarde also said in a statement after the decision, that the short-term outlook worsened, the service sector is more flexible, the momentum slowed down, the manufacturing sector was down and foreign demand was also weak. Along with these developments, the EURUSD parity is falling. In the continuation of the decline, 1.1025 and 1.0990 can be viewed as support. In transactions in favor of the euro, 1.1070 and 1.1125 may form resistance.
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XAUUSD
XAUUSD – Dropping After ECB Rate Increase…
The European Central Bank (ECB) raised the interest rate by 25 basis points to 4.25% at its meeting today. In the statement, it was stated that inflation continues to decrease, but it is expected to remain high for a long time and the ECB is determined to ensure that inflation returns to the medium-term target of 2% in a timely manner. ECB President Lagarde said that the short-term outlook has worsened, the services sector is more flexible, the momentum is slowing, the manufacturing sector is down and foreign demand is also weak. Along with these developments, Ounce Gold dropped to 1956.20 level. In the continuation of the decline, 1954.20 and 1949.75 can be followed as support. In upward transactions, 1960.30 and 1966.85 may create resistance.
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CRUDE OIL
CRUDE OIL – Continues Its Course in the Channel…
Transactions in Crude Oil take place within the rising price channel that we watch in a 4-hour period. It can be viewed as 80.78 and 81.77 resistance within the channel. In retracements, 79.74 and the lower band of the channel can form support. In case of a downward exit from the channel, the declines can gain momentum.
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