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 […]
FOMC Meeting Minutes to be Announced… *FED FOMC Member Bullard said in his speech that the FED would have to increase the interest rate above 5% to stop inflation, that they thought they could pull inflation down while maintaining a strong labor market, that the markets may have overpriced the risk of recession in 2023, […]
Support Level: 1.0610 – 1.0470 – 1.0350 Resistance Level: 1.0800 – 1.0930 – 1.1000 EUR/USD EUR/USD extends its bearish continuation after Monday’s gains, offset by the US Dollar (USD), were sponsored by a risk-off impulse, despite upbeat data revealed in the Euro area. Nevertheless, US PMIs showed after Wall Street’s opening justified US Dollar strength, […]
While the Manufacturing Sector Shrinks in the Euro Zone, the Service Sector Grows… In Germany, the Manufacturing PMI for February, announced today, dropped to 46.5 from 47.3, while the Services PMI rose to 51.3 from 50.7. Likewise, in the Euro Area, Manufacturing PMI fell from 48.8 to 48.5, while Services PMI rose to 53.3 from […]
Support Level: 1.0610 – 1.0470 – 1.0350 Resistance Level: 1.0800 – 1.0930 – 1.1000 EUR/USD EUR/USD trades without direction in the sub-1.0700 region at the beginning of the week due to US President holiday. Presidents’ Day has delivered a slow morning for markets, albeit one with a slight positive bias to Asian and European equities, […]