19/04/2023 Evening Reports
*We saw double-digit data again in the UK inflation, which was announced in the morning hours. Headline inflation was 10.1% year-on-year, while core inflation was 6.2% year-on-year. Especially if we look at the core inflation side, price increases are still evident. UK headline annual inflation remains in double digits.
*Eurozone’s March inflation remained unchanged at 6.9%. Continuing interest rate hikes are also foreseen on the side of the European Central Bank, while indecision continues between 25 and 50 basis points.
The probability that the Bank of England will increase interest rates by 25 basis points has increased to 95%.
*During the day, while the dollar index gained value in general, the Ounce Gold side fell below $2000 and saw 1970 levels. The US 10-year bond yield, on the other hand, continued its rise since 3.26% and rose to 3.62% today.
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EUR/USD
EURUSD – Pricing Horizontally in the Uptrend…
After the pullbacks tested the lower band of the bullish channel, the slight uptrend continues on the horizontal plane and the pricing is trying to surpass the 1.0972 resistance point. If the uptrend continues and 1.0972 is surpassed, 1.1033 may be resisted. In pullbacks, 1.0935 level can be followed as support.
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BRENT
Brent – Drops To 82.47 Support Happened…
While the downward trend in Brent oil was effective, the descent below the upward trend line was realized. The declines continued until the 82.47 support and with the reactions from this level, the trades continue around 83.28. If the pullbacks continue and the 82.47 support fails to maintain its strength, the 80.90 level may come to the fore and be followed as support. On the upside pricing, the 83.94 level may form resistance.
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XAU/USD
Ounce Gold – There Have Been Withdrawals Up To 1969.20 Level…
The downward trend, which has been effective in the yellow metal since the level of $ 2048, gained momentum and continued until the level of 1969.20. With the reactions from this level, it reached the 1994 level again. In the continuation of the bullish reactions, the 1998.35 level may show resistance. In the pullbacks, the level of 1990.75 can form support.
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