EURUSD
While interest rate expectations deteriorated due to increasing concerns after the banking crisis, the ECB increased interest rates by 50 basis points yesterday. In the text of the resolution, it was predicted that inflation would remain at a very high level for a long time. It was stated in the text that uncertainty requires a data-driven approach. Chairman C. Lagarde emphasized that the bank has tools in its hands in case liquidity is required. The number of people who applied for unemployment benefits for the first time in the USA fell to 192 thousand, below expectations. According to the announced data, the fastest decline in applications since July was recorded. Inflation in the Euro Zone and the data to be announced in the USA remain important.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.0732 |
| Resistance 2 | 1.0684 |
| Resistance 1 | 1.0648 |
| Support 1 | 1.0563 |
| Support 2 | 1.0515 |
| Support 3 | 1.0479 |
GBPUSD
In his speech to the parliament on the British government's "Spring Term" budget, Minister Hunt stated that his government's government support through energy companies will continue to reduce household bills, and noted that household energy bills will be kept at the level of 2,500 pounds per year for the next three months. Minister Hunt stated that according to the estimates of the Budget Responsibility Office (OBR), the economy may shrink by 0.2 percent at the end of this year, but the economy will not contract for two consecutive quarters, so that the country's economy will not enter a technical recession.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.2250 |
| Resistance 2 | 1.2188 |
| Resistance 1 | 1.2149 |
| Support 1 | 1.2048 |
| Support 2 | 1.1987 |
| Support 3 | 1.1948 |
XAUUSD
In global markets, developments in the banking sector and changing expectations for the Fed's meeting also had an impact on ounce gold prices. During the week, although there was a limited decrease below the 1900 $ ounce level, it managed to rise again above the 1900 $ level. It has been hovering above the $1900 level in recent days. The dollar index is trading in the range of 104.06-104.44 this morning. Data will be followed in the USA today. It can be expected that the data to be announced will have an impact on pricing, albeit limited. Fed meeting will happen next week and the uncertainty continues to affect.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1958 |
| Resistance 2 | 1945 |
| Resistance 1 | 1932 |
| Support 1 | 1906 |
| Support 2 | 1894 |
| Support 3 | 1880 |
BRENT OIL
Oil prices are trading with buyers this morning. Developments in the banking sector and option closings had an impact on the course of oil prices this week. Oil prices fell by about 10 percent during the week. It seems that he has been trying to recover for the last two days. Saudi Arabia announced that it has increased its prices to its European and Asian customers. This shows that they trust the market and think that oil demand will be good. Next week, the OPEC+ technical committee meeting is expected. While the recent volatility is expected to be addressed, there is no expectation of a new decision.
S&P500
U.S. Stocks closed the day higher yesterday after major U.S. banks including JPMorgan, BofA and Citi deposited $30 billion in First Republic Bank to calm markets. The Dow Jones index rose 1.17%, the S&P 500 index rose 1.76% and the NASDAQ index rose 2.48%. It can be said that there is a horizontal outlook in the US futures on the new day. It can also be stated that there is no significant data flow that will affect the markets today, and secondary data will be announced.
