After Powell We Will Follow Lagarde at 22:00… *Federal Reserve Chairman Powell’s eagerly awaited speech at Jackson Hole began today as of 17:05. Regarding the messages conveyed:– If appropriate, we are ready to further increase interest rates, we will proceed cautiously.– We will decide on the next policy move based on data.– The Fed is […]

US Dollar Gains as Job Market Holds Strong… Today, there was a favorable outlook for the US Dollar once again. The EURUSD pair retreated to the 200-day moving average and tested this zone. On the side of Gold, pricing continues above 1910. The USDJPY pair is gradually approaching the 146.50 resistance level. The US 10-year […]

Fall in PMI Data Increases Market Volatility… *Today was PMI day in global markets and PMI data in Europe came well below expectations. When we take a look at these data that energized the market in the morning, we saw that the manufacturing sector, which had already contracted in Germany and the Euro Zone, experienced a […]

US Bond Rates and US Dollar Index Continue Their Rising… * BOJ President Ueda stated that they did not discuss the currency volatility while he explained the July meeting decisions at the meeting he held with Japanese Prime Minister Kishida last night. *FED Chairman Barkin shared his opinion that if a recession occurs in the […]

Global Stock Markets Started Comfortably, But Eyes Will Be on the US 10 Years… *International financial markets started the new week relatively calm, compensating for last week’s hedging sales. However, there are still critical data and figures that we follow on the agenda. The US 10-year Treasury yield continues to rise to 4.33%, at its highest […]

Retail Sales Decline in the UK… *Retail sales data announced in the UK decreased more than expected. It decreased by -1.2% against the expectations of -0.5% for July and by -3.2% against the expectations of -2.1% on an annual basis. Core retail sales were also similar, falling by -1.4% on a monthly basis versus -0.7% and by […]

Foreign Exchange Intervention Called for Public Banks in China… *Eurozone Trade Balance posted a surplus of 23 billion euros in June, with exports falling 0.5% month on month and imports falling more sharply by 5.6%. * In the second quarter monetary policy report of the People’s Bank of China, “Prudent monetary policy will be firm […]

Headline Inflation Declines in England. Core Inflation Remains Strong… *In the UK, annual headline inflation, which was 7.9% in the previous data, decreased to 6.8% in July, as expected. On a monthly basis, negative inflation was realized as -0.4% against the expectations of -0.5%. When we look at core inflation, there was no change on an annual basis. As […]

Wages Rising in the UK. Unemployment has increased… *After the rise in the USDJPY parity gained momentum, Japanese Finance Minister Suzuki made some statements. Suzuki stated that rapid currency movements are undesirable, excessive movements should be responded to appropriately and that there should be a stable movement of the exchange rate to reflect the fundamentals. *In the […]

German Treasury Department, “Current Indicators Do Not Yet Point to Sustainable Economic Recovery.” *Panic caused by the shutdown of bond trading amid debt problems and loss expectations after Chinese construction company Country Garden has been in default since 2021. Company shares fell 16 percent and hit a record low. The situation has worried the real estate industry, […]