27/10/2023 Evening Reports
*Chevron company announced a decrease in its third quarter profit despite the increase in oil prices. While the oil giant company announced a profit per share of $ 5.78 in the same period last year, this year it announced a profit per share of $ 3.48.
*The leading inflation indicator that the FED pays most attention to, the PCE Core Price Index, was announced. The data was 3.7% on an annual basis and 0.3% on a monthly basis. Although the monthly data came in line with expectations, it is higher than the previous month.
In the headline PCE data, the result was above expectations with 0.4% on a monthly basis.
There was not much change in pricing after the data. This data should not be a surprise after yesterday’s strong US economic growth data. However, the ongoing stable situation on the Core side should reassure the FED. However, if the Fed wants to outpace inflation, consumption must slow at some point.
*In intraday pricing, EURUSD parity was priced at 1.0565 and Ounce Gold was priced at 1980 levels. USDJPY parity fell below 150.00.
The US 10-year bond interest rate is below 4.90% and is at 4.87%.
EURUSD – Dropped to 1.0535 Level After US Data…
Core PCE for September, which we follow in the USA, increased by 0.3% monthly and 3.7% annually, as expected. The previous data showed an increase of 0.1% and 3.8% respectively. After the data, there was a decrease in EURUSD parity to 1.0535 level. It is also recovering with purchases from this level. In the continuation of the recovery, 1.0576 and 1.0598 can be observed as resistance. In case of withdrawals, 1.0510 and 1.0460 may form support.
Ounce Gold – Rising with the Support Received from the Lower Band of the Formation…
Ounce Gold is rising with the support received from the lower band of the symmetrical triangle formation that we follow in the hourly period. In the continuation of the rise, the upper band of the formation may form resistance. In case of an upward move from the formation, 1987.75 and 2000 may constitute resistance. In case of withdrawals, 1981 and the lower band of the formation can be watched as support.
CRUDE OIL – The Formation is Retreating Due to the Resistance Encountered in the Upper Band…
The upper band of the symmetrical triangle formation that we follow on an hourly basis in Crude Oil was tested but could not be passed. If this level cannot be exceeded, it retreats. In the continuation of the retreat, the lower band of the formation can be watched as support. Whichever direction the formation goes up or down, transactions may gain momentum in that direction.
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