The US Economy Shrinked in the 2nd Quarter… GDP in the second quarter we followed in the USA contracted by 0.6% as expected. The US economy shrank 1.6% in the first quarter. Unemployment Benefit Applications, another important data announced at the same time in the USA, increased less than the expectation of 215 thousand and […]
Support Level: 0.9600- 0.9535- 0.9450 Resistance Level: 0.9750 – 0.9840- 0.9910 EUR/USD The shared currency began trading nearby the day’s lows, just below the 0.9600 figure, and dived towards a fresh two-decade low at around 0.9535 before rallying sharply towards the daily high at 0.9751 before settling around 0.9730, bearish in the daily chart. The […]
ECB/Lagarde “We Will Keep Raising Rates“ President of the European Central Bank (ECB) Lagarde and ECB Members Rehn and Kazimir made assessments on the interest rate hike process in their speech today. Lagarde said they will continue to raise interest rates in the next few meetings, while Rehn said a serious rate hike should be […]
Support Level: 0.9550- 0.9500- 0.9400 Resistance Level: 0.9710 – 0.9840- 0.9910 EUR/USD The EUR/USD dropped further after the beginning of the American session and hit levels under 0.9600. It is hovering at 0.9590 to end Tuesday, bearish in the daily chart. Following the release of better-than-expected US Consumer Confidence data, the greenback started to recover […]
US Consumer Confidence Exceeded Expectation… 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% […]
Support Level: 0.9550- 0.9500- 0.9400 Resistance Level: 0.9710 – 0.9840- 0.9910 EUR/USD The EUR/USD is moving toward 0.9600 after the recovers from fresh multi-year lows faded. The euro could not hold above 0.9700 and started to decline as stocks in Wall Street printed fresh session lows. It ended Monday around 0.9620, bearish in the daily […]
ECB/Lagarde “We Expect to Raise Interest Rates Further” We followed the Sectoral Confidence Indices for September in Turkiye today. In September, the Services Confidence Index rose from 116.2 to 118.2, the Retail Confidence Index rose from 112.9 to 115.9, and the Construction Confidence Index rose from 86.3 to 88.1. While the Real Sector Confidence Index, […]
Support Level: 0.9600 – 0.9500 – 0.9400 Resistance Level: 0.9900 – 1.0000 – 1.0050 EUR/USD The EUR/USD nosedives below the 0.9800 figure, extending its losses below the 0.9700 figure, triggered by traders’ worries that Fed’s aggression would tip the US economy into a recession, while the UK announced a plan aimed to lift stimulate the […]
US Dollar Sets to Close Week at New 20-Year High… All assets were literally crushed under the strength of the US Dollar on the last trading day of the week. The mode of buy US dollars and sell other assets was dominant in the market. Stock Exchange Global Stock indices, important major units, commodities such […]
Support Level: 0.9875 – 0.9800 – 0.9750 Resistance Level: 1.0050 – 1.0200 – 1.0280 EUR/USD The EUR/USD remains under pressure after hitting a weekly high at around 1.0050 earlier, bolstered by higher than expected German PPI. However, as the North American session began, the exchange rate tumbled below parity and its opening price, ended Tuesday […]