EURUSD
On the last trading day of the week, Isabel Schnabel, Member of the ECB Board of Directors, stated that the course of raising interest rates will be maintained in order to reduce inflation to the 2% target. It was also emphasized that by combating high inflation, the sustainable growth of the euro area economy would be supported. Schnabel stated that a soft landing is possible but not certain, and that the disinflationary process has not started in every region. The consumer confidence index, measured by the University of Michigan in the USA, reached 66.4, the highest level since February 2022, with a monthly increase of 1.5 points.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.0818 |
| Resistance 2 | 1.0785 |
| Resistance 1 | 1.0732 |
| Support 1 | 1.0645 |
| Support 2 | 1.0612 |
| Support 3 | 1.0558 |
Daily Pivot Levels
GBPUSD
Ukrainian President Volodymyr Zelenskiy signed the "London Declaration", which aims to strengthen the cooperation between the two countries, with British Prime Minister Rishi Sunak, as part of his surprise visit to London. For Russia's attacks on Ukraine in 2014 and 2022, the declaration said, "They attack Europe's security and people's right to self-determination. They threaten our freedom." expressions were used. GBP/USD is priced at 1.2051 as of this morning.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.2208 |
| Resistance 2 | 1.2173 |
| Resistance 1 | 1.2116 |
| Support 1 | 1.2024 |
| Support 2 | 1.1989 |
| Support 3 | 1.1931 |
Daily Pivot Levels
XAUUSD
This week will be inflation week in the USA. The data, which is expected to be announced tomorrow, may also have an impact on ounce gold prices. US stock markets were mixed on Friday. US futures are trading lightly this morning. The dollar index hovers between 103.57-103.81. An ounce of gold shows a limited decline below the $1860 level, but it is moving back above the $1860 level. It may continue to watch cautiously before tomorrow's US CPI. There are no significant data streams to be announced for today. The speeches of Fed officials can be followed this week.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1893 |
| Resistance 2 | 1882 |
| Resistance 1 | 1874 |
| Support 1 | 1854 |
| Support 2 | 1843 |
| Support 3 | 1835 |
Daily Pivot Levels
BRENT OIL
Oil prices started the new week with sellers. Risk appetite in global markets is not very strong. This week is seen as inflation week in the USA. The data is expected to be released tomorrow. The data to be announced may cause volatility in the markets tomorrow. Recently, the opening of China and the expectation of an increase in demand affected the course of oil prices. You can follow the developments in China this week. Weekly oil inventories to be released this week by the DOE and API should also be followed for oil. Most recently, the US Treasury Department announced that it would impose sanctions on companies involved in the production, sale and shipment of Iran's petrochemicals and oil to buyers in Asia.
S&P500
US stock markets were mixed on Friday. While Dow Jones index gained 0.50% and S&P 500 index gained 0.22%, NASDAQ index diverged negatively from US indices and closed the day with 0.61% depreciation. Looking at the new day, we can say that a negative outlook prevails in US futures. During the day today, the data flow looks calm and there are no significant data flows. PPI, CPI and retail sales data that will be announced in the USA throughout the week stand out as the most important data.
