Manufacturing Sector in Europe Shrinked… Retail Sales in Germany for October decreased more than expected. Retail Sales decreased by 2.8% month on month and 5.0% year on year. Data were expected to decrease by 0.6% and 5.0%, respectively. In Europe, we followed the Manufacturing PMI data for November today. Manufacturing PMI shrank in Germany, the […]
Support Level: 1.0290 – 1.0200 – 1.0100 Resistance Level: 1.0500 – 1.0600- 1.0700 EUR/USD The EUR/USD jumped from weekly lows of 1.0290 as the Federal Reserve (Fed) Chair Jerome Powell acknowledged that moderation in the speed of interest rate increases might come as soon as the next meeting. That said, the Euro (EUR) is climbing, […]
Turkish Economy Grows by 3.9%… Turkey’s 3rd quarter GDP, announced today, shrank by 0.1% on a quarterly basis and grew by 3.9% on an annual basis. GDP had grown by 2.1% and 7.6% in the previous quarter, respectively. Financial and insurance activities and information and communication activities made the biggest contribution to the annual growth […]
Support Level: 1.0300 – 1.0200 – 1.0100 Resistance Level: 1.0400 – 1.0500- 1.0600 EUR/USD EUR/USD alternates gains with losses in the low-1.0300s following another failed attempt to retake the 1.0400 barrier earlier on Tuesday. The euro was initially buoyed earlier on Tuesday due to the hopes of a potential easing in China’s strict pandemic restrictions […]
Inflation Decreased in Germany… Exports, which we followed in October, were 21.33 billion dollars and imports were 29.20 billion dollars. After these data, the Trade Deficit was 7.87 billion dollars in October and 91.49 billion dollars in January-October. The Trade Deficit was $9.59 billion in September. TURKSTAT Economic Confidence Index, which is another data announced […]
Support Level: 1.0300 – 1.0200 – 1.0100 Resistance Level: 1.0500 – 1.0600- 1.0700 EUR/USD At the time of writing, EUR/USD is down some 0.29% falling to a low of 1.0354 from a higher of 1.0496. Risk currencies, such as the Euro are under pressure as protests against COVID restrictions in China weighed on market sentiment. […]
Lagarde, President of the European Central Bank, gave a speech… In his speech today, European Central Bank (ECB) Member Knot said that the Eurozone economic growth may turn negative this quarter, that he does not expect a recession in the economy due to the positive economic data in Germany, that weaker economic growth is certain […]
Support Level: 1.0300 – 1.0200 – 1.0100 Resistance Level: 1.0480 – 1.0600- 1.0700 EUR/USD EUR/USD remained close to the 1.0400 area. For the week, the Euro was higher by 0.5% against the US Dollar that remains near multi-month lows on the prospects of the Federal Reserve moderating the pace of its policy tightening. S&P500 futures […]
Closing Thanksgiving Week… Due to the US Thanksgiving day, the market in the whole world passed in the form of “holiday mode” in general. It’s been a stagnant week on the news feed and data side. However, let’s take a brief look at the pricing. Oil side continued the decline it experienced last week, albeit […]
Support Level: 1.0300 – 1.0200 – 1.0100 Resistance Level: 1.0480 – 1.0600- 1.0700 EUR/USD EUR/USD was last up 0.1% at 1.0405, and has stuck to a range of between 1.0381 and 1.0448 while US markets are closed on Thursday for Thanksgiving and liquidity will likely be thinner than usual until Asia and Frankfurt crossover on […]