27/09/2022 Evening Reports
In his speech today, Chicago Fed President Evans said that there will be a difficult interest rate environment for a while, the Unemployment Rate 4.5% is a very good result, the real interest rate may be 1.4% next spring, and the year-end consensus on the interest rate is between 4.25% and 4.50%. He said he was among them.
In a statement, Fed Chairman Powell said that monetary policy normalization has revealed important structural problems in the decentralized financial system, that decentralized finance should have appropriate regulations and that there should be the same risk and regulation for crypto assets.
In the US, Durable Goods Orders, which we tracked for August, decreased by 0.2%, while Core Durable Goods Orders increased by 0.2%. Data were expected to come in -0.4% and 0.2%, respectively. Durable Goods Orders decreased by 0.2% in July.
In his speech on the interest rate hike process, European Central Bank (ECB) Member De Guindos said that they will continue to increase interest rates in the coming months, the number and size of rate hikes will be determined by data, and high interest rates will have a clear impact on companies’ solvency.
US Conference Board (CB) Consumer Confidence rose to 108.0 in September, above expectations. The market expectation was for an increase from 103.2 to 104.5. New Housing sales, on the other hand, were 658 thousand in August, exceeding the expectations of 500 thousand.
BRENT – Rebounds to 100-Week Average…
Brent oil price is trying to recover on the second trading day of the week with the reaction buying from the lowest region of the last 8 months. With the US Dollar index easing from its recent high, the breathing oil price recovered to the $85 limit, the 100-week exponential moving average.
If it rises above this average, $88 in Brent oil and the blue descending trendline stand out as the next resistance zones. Below, $83 and $80 levels can be viewed as initial support zones.
EURUSD – Response Purchases Have Difficulty Finding Strength…
After the decline in the EURUSD parity for 5 consecutive days, reaction purchases are observed today, but these reaction purchases are weak so far. 0.9709, the highest level seen above yesterday, will be followed as the first resistance zone in the pair.
On the other hand, if the downward trend in the parity comes to the fore again, the lower band of the descending channel and the 0.9620 level before the 0.9550 level can be viewed as the intermediate support zone.
XAUUSD – The US Dollar Index Takes a Breathe as It Unwinds From Its Recent High…
With the strengthening of the US Dollar in the global market and the rise in the US bond yields, reaction purchases are observed in Ounce Gold, which has been under selling pressure since last week.
If the reaction buying continues, 1650 and 1661 band, which is the 10-day exponential moving average, can be followed as the first resistance zones. On the other hand, 1626 and 1615 levels can be viewed as the first support zones if the downward trend in precious metal comes to the fore again.
The 1615 level is also important in that it is the 50.0% Fibonacci band region of the 1160-2075 rising movement.
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GBPTRY – Parity Recovers 20.0000 Resistance Boundary With Developed Response Purchases From 4 Months Low…
With the collapse of the British Pound in the global market on Monday, the GBPTYRY parity also regressed to the lowest region in 4 months with 18.96. Although there are reaction purchases from this region, it has difficulty in recovering above the 20.00 band.
If the 20.0000 resistance band tested today is broken, the 100-day exponential moving average that it broke below last week can be viewed as the next resistance zone. Below, 19.48 and 18.96 levels will be followed as the first support zones.