Inflation in Germany Is Higher Than Expected… Today, we followed the Manufacturing PMI data for February in Europe. Manufacturing PMI fell from 48.8 to 48.5 in the Eurozone and from 46.5 to 45.3 in Germany, while in the UK it rose from 49.2 to 49.3. Unemployment Rate for February, another important data announced in Germany, […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0650 – 1.0700 – 1.0800 EUR/USD EUR/USD peaked at 1.0644, but turned south during the American afternoon and now hovers around 1.0590, down for the day and bearish in the daily chart. USD reverse early losses and finished the day unevenly across the FX board. Correlations […]
The GDP of Switzerland Remained Below The Expectations… GDP in Turkey for the 4th quarter, which we are watching today, grew by 0.9% quarterly and 3.5% year-on-year. In the previous quarter, the economy contracted by 0.1% on a quarterly basis and grew by 3.9% on an annual basis. In 2022, while the GDP in dollar […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0630 – 1.0700 – 1.0800 EUR/USD The EUR/USD is having so far the best day since February 1 on Monday, boosted by a weaker US Dollar across the board on the back of an improvement in risk sentiment and a retreat in Treasury yields. The pair […]
Durable Goods Orders Decreased in the US… In Turkey, the Trade Balance for January, which we are watching today, increased by 38.4% and had a deficit of 14 billion 237 million dollars. In January, Exports increased by 10.3% to 19 billion 369 million dollars, while Imports increased by 20.7% to 33 billion 606 million dollars. […]
Support Level: 1.0540 – 1.0470 – 1.0350 Resistance Level: 1.0630 – 1.0700 – 1.0800 EUR/USD The downside pressure picks up extra impulse and forces EUR/USD to print new monthly lows in the 1.0545/40 band at the end of the week. The selling momentum in EUR/USD gathers extra traction on the back of the unabated advance […]
PCE Price Index Increases in the USA… In Germany, the GDP for the fourth quarter, announced today, fell short of expectations and shrank by 0.4% on a quarterly basis and grew by 0.3% on an annual basis. The economy was expected to contract by 0.2% quarter-on-quarter and grow 0.5% year-on-year. In his speech, German Central […]
Support Level: 1.0570 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0930 EUR/USD EUR/USD printed fresh lows on Thursday on the third day of there being shorts in the market which gives rise to the prospects of a move up for the final stages of the week. It ended the day near the […]
CBRT Lowered Interest Rate As Expected… The Consumer Price Index (CPI) for January, which we track in the Euro Zone, decreased by 0.2% month on month as expected and increased by 8.6% year on year. In the previous data, CPI was -0.4% and 9.2%, respectively. Core CPI for January, on the other hand, decreased 0.8% […]
Support Level: 1.0600 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0930 EUR/USD EUR/USD continued the decline post FOMC Minutes. The price dropped from intraday high 1.0664 to low 1.0599 due to US dollar strength. It ended the day near the bottom and bearish in the daily chart. The US Dollar maintained its […]