20/04/2023 Evening Reports
* While the Philly FED Manufacturing Index, which came in at 15.30 during the day, fell from -23.2 to -31.3, we see that the US Dollar weakened a little in the face of this weak data.
Markets continue to see the probability of a 25 basis point rate hike as 90% at the May 3 FED meeting.
The EURUSD parity, which was priced at 1.0935 levels during the day, rose to 1.0980 after this data.
Ounce Gold again rose above $2000 and reacted during the day until 2011.
*Weekly applications for unemployment benefits from the USA were announced as 245,000, an increase of 5,000 compared to last week.
* ECB President Lagarde stated that they will do their best to bring inflation back to the 2% target. Since it was an event attended by students, he did not make an extra statement.
*HSBC expects the Bank of England to raise interest rates by 25 basis points in May and June.
**Tomorrow we will follow the leading services and manufacturing PMI for April by Germany, the Eurozone and the US.
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EUR/USD
EURUSD – 1.0972 Level Tested as Support…
The Euro rose above the 1.0972 level with the reactions received after the retreats to the 1.0935 level in the dollar parity. This level is momentarily tested as a support point. In case the ups gain strength, the 1.1033 level may come to the fore and create resistance. If the 1.0972 level is broken to the downside on the pullbacks, the 1.0935 level can form support.
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BRENT
Brent – Priced Around 81.24…
When Brent oil is analyzed on the daily chart, it went below the upward trend line with the effect of the downward trend that has been going on since the beginning of the week. Pricing has dropped below 82.47 support today and continues around 81.24. In the continuation of the downward pricing, the 80.90 level may form support. On the upside pricing, the 82.47 level may form resistance.
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XAU/USD
Ounce Gold – Above $2000 Level…
The yellow metal is trading above the $2000 level again after the backlash from the 1990.75 support. The rises continued until the level of 2011.35. With the subsequent pullbacks, instant pricing is stuck at the 2007.35 level. In the continuation of the rise, the 2019 level can be followed as resistance. In the pullbacks, the 1998.35 level can create support.
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