EURUSD
On the last trading day of the week, the consumer price index for February in Germany was announced as 0.8% on a monthly basis and 8.7% on an annual basis. While non-farm employment increased by 311 thousand in February, above the expectations of 225 thousand, the unemployment rate was realized as 3.6%, above the expectations of 3.4%. Average hourly earnings, on the other hand, increased below expectations. On the other hand, with the tension in the banking sector, the decline in the dollar index and the bond front, and the recovery in the parity are at the forefront. The ECB meeting, which will take place this week in the parity, where the rise to the level of 1.07 is experienced, the inflation figures to be announced tomorrow will be decisive.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.0878 |
| Resistance 2 | 1.0807 |
| Resistance 1 | 1.0749 |
| Support 1 | 1.0574 |
| Support 2 | 1.05108 |
| Support 3 | 1.0447 |
GBPUSD
Speaking at the Resolution Foundation, a think tank based in London, Swati Dhingra, Member of the Monetary Policy Committee (PPK) of the Bank of England (BoE), stated that the monetary policy rate, which has been on the rise in the country in recent months, should now be kept constant, and that a possible interest rate increase will harm the country's economy. He said he could. The Bank of England continues to maintain its 2 percent inflation target. Inflation in the country increased by 10.1 percent in January this year. The GBP/USD pair is priced at 1.2108 as of this morning.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.2333 |
| Resistance 2 | 1.2223 |
| Resistance 1 | 1.2127 |
| Support 1 | 1.1921 |
| Support 2 | 1.1811 |
| Support 3 | 1.1715 |
XAUUSD
There are developments regarding US banks in global markets. The bankruptcy of the Silicon Valley Bank and the appointment of a trustee to the New York-based Signature Bank worried the markets. Due to these developments, it is seen that the interest in ounce gold, which is a safe harbor, has increased in a short time. Therefore, there was an increase in ounce gold. This week, both inflation data in the USA and developments related to banks will be included. These can affect the course of the markets. Profit sales can be seen in ounce gold, if there are actions that relax the markets related to banks. Risk appetite may recover in the markets. There are no significant data streams to be announced in the US today.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1924 |
| Resistance 2 | 1897 |
| Resistance 1 | 1882 |
| Support 1 | 1839 |
| Support 2 | 1812 |
| Support 3 | 1797 |
BRENT OIL
Oil prices started the new week flat. On the agenda of global markets, there is the news that Silicon Valley Bank (SVB), which declared bankruptcy in the USA, and New York-based Signature Bank, were appointed trustees. These developments can affect the course of the markets and cause volatility. For now, its impact on oil prices has been limited. In his statement, Aramco CEO stated that he is cautiously optimistic that the oil market will remain firmly balanced in the short to medium term. Saudi Arabia and Iran are starting diplomatic relations again, and China seems to be acting as a mediator in this regard. For today, developments regarding banks in the USA will be followed.
S&P500
Global markets are focused on the bank crisis in the USA. After the bankruptcy of Silicon Valley Bank, news came at the weekend that Signature Bank was shutting down. Officials in the US announced that all depositors in both banks will get their money back. US stock markets were negative on Friday. Finance, Industry and Raw Material sectors were the prominent sectors in the declines. The Dow Jones index closed the week with 1.07%, S&P 500 index 1.45% and NASDAQ index 1.76%. When we look at today, the US futures are recovering after the US Treasury Department, FED and FDIC stepped in on banks.
