EURUSD
While the import price index for January in Germany recovered with a decrease of 1.2% on a monthly basis, the increase was announced as 6.6% on an annual basis. Before the inflation data to be announced tomorrow, expectations that the European Central Bank will increase by 50 basis points this month in order to prevent the rise in inflation have gained strength. Housing prices in the USA continued to decline in the 6th month due to the rise in loan rates. The goods trade deficit in the country increased by 2% on a monthly basis in January, reaching 91.5 billion dollars. In the said period, exports of goods increased by 4.2% to $173.8 billion, while imports of goods increased by 3.4% to $265.3 billion.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.0693 |
| Resistance 2 | 1.0669 |
| Resistance 1 | 1.0621 |
| Support 1 | 1.0621 |
| Support 2 | 1.0550 |
| Support 3 | 1.0526 |
Daily Pivot Levels
GBPUSD
The UK and the European Union (EU) agreed on the "Windsor Framework Agreement" to find a solution to trade problems under the Northern Ireland Protocol. EU Commission President von der Leyen stated that the Windsor Framework Agreement is a new page and said, "This agreement offers long-term solutions and we believe that these solutions will answer the concerns of the people of Northern Ireland." said. Von compiler stated that the Windsor Framework Agreement started a stronger period in EU-UK relations. The GBP/USD pair is priced at 1.2049 as of this morning.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.2227 |
| Resistance 2 | 1.2184 |
| Resistance 1 | 1.2101 |
| Support 1 | 1.1976 |
| Support 2 | 1.1933 |
| Support 3 | 1.1850 |
Daily Pivot Levels
XAUUSD
Although the price of ounce of gold decreased to the level of $ 1804 yesterday, it has moved above the level of $ 1830 again today. The partial withdrawal of the dollar index supports the upward movement of the gold price. Until the Fed meeting to be held on March 21-22, it can be expected to maintain the cautious course under ounce. It contains data to be released from the USA today. The impact of the data on the ounce gold price may be limited. During the day, statements may also come from Fed officials. Their rhetoric also affects the course of the markets. This morning, the dollar index is flat between 104.82-105.09. Risk appetite in global markets is trying to recover.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1863 |
| Resistance 2 | 1847 |
| Resistance 1 | 1836 |
| Support 1 | 1810 |
| Support 2 | 1794 |
| Support 3 | 1783 |
Daily Pivot Levels
BRENT OIL
Oil prices are trading slightly this morning. In the recent period, horizontal and cautious trends have been dominant. While the opening of China supports prices, the increase in stocks and the continuation of the tightening steps of the central banks cause prices to retreat. Therefore, the prices seem to be balanced. In his statement, the Polish Prime Minister stated that Poland will stop importing crude oil from Russia in February or March. Weekly inventories announced by API increased by 6.2 mn barrels. It had increased by 9.9 mn barrels in the previous week. An increase in stocks is interpreted negatively for prices. However, a volatility was not felt in API-induced prices. DOE weekly stocks will be released today.
S&P500
US stock markets finished the day in negative territory yesterday. The Public Services, Energy and Health sectors were the prominent sectors in the declines. The Dow Jones index fell 0.71%, the S&P 500 index fell 0.30% and the NASDAQ index lost 0.10%. US futures display a sideways-positive outlook on the new day.
