27.04.2020 Market Analysis Forex

ECONOMIC DATA AND FINANCIAL RESULTS WILL CONTINUE TO KEEP THE MARKETS  27.04.2020 Market Analysis Forex In the world, the downward trend in corona virus cases continues. While the number of active cases has been decreasing in Italy for the last few days, the number of people who lost their lives, according to the data on Sunday, has decreased to 260 to 200 after a long time. In Spain, while the number of new cases was 2870 on Sunday, it was observed that this number decreased compared to Saturday and the lowest death rate of a month was reached. In Germany, however, the controlled view continues in the number of cases. It is remarkable that there is a decline in the number of people who lost their lives while the total number of cases approached 1 million in the USA. According to the latest developments, countries are preparing to gradually open their economies and gradually lift the restrictions. Italy Italian Prime Minister Giuseppe Conte announced yesterday that they are aiming to open businesses in the manufacturing and construction industry from May 4th. However, businesses such as restaurants and bars where people gather together will remain closed for a while. Conte said schools will remain closed until September. Germany allowed small retailers under 800 meters to reopen as long as they complied with social distance and hygiene measures. In Turkey, the outlook continues to go positively. According to yesterday's data, while the number of new cases was 2357, the number of people who lost their lives decreased to 100 and became 99. While the proportion of patients in intensive care was 2.27%, the recovery rate continued to increase with 26.45%.   As it is known, the most important development of the last week took place in oil prices and the May contracts decreased by -40 dollars a day due to factors such as excess supply and storage problems. Although some recovery was observed in the rest of the week, it was observed that the weak course continued. Making statements on this subject at the weekend, OPEC President Muhammed Arkab predicted that the price of oil in barrels will rise to 40 dollars in May and June with the implementation of the decision of OPEC member countries to restrict production. The group, known as OPEC +, was decided to reduce the daily crude oil production amount to 10 million barrels between 1 May and 30 June, to 8 million barrels between 1 July and 31 December and 6 million barrels per day between 1 January 2021 and 30 April 2022. Meanwhile, Saudi Aramco started to reduce production earlier this week, before the deadline of 1 May, when the new targets of OPEC + will come into effect. Last week, the $ 484 billion incentive package, which passed through the parliament after the Senate, was approved by Donald Trump. The bill, which allocates $ 320 billion to small business owners and financially challenged citizens who have stopped their operations due to the epidemic, envisions allocating an additional budget of 75 billion dollars for hospitals, 60 billion dollars for emergency disaster loans for small businesses and some other items. Economic data and financial results to be announced in the new week will continue to show the degree of economic damage caused by the virus. In the USA this week, the first reading of the first quarter GDP will be followed closely by inflation data in the EU. The US economy is expected to shrink by 4% in the first quarter. FED and ECB interest decisions will also be expected this week. A change in interest rates is not expected. This week, 140 companies in the SP500 are expected to release their financial results. In Asia this morning, indices continue the day with rising. With the BoJ's promise to buy unlimited government bonds and accelerate risky asset purchases yesterday, the Nikkei index is rising around 2%, while the other indices are buying. US futures are also moving slightly.   USDTRY The real sector confidence index, which was announced domestically on the last trading day of the previous week, was 66.8 in April due to the virus effect in April, and the capacity utilization rate in the manufacturing industry decreased by 13.7 points compared to the previous month to 61.6 percent. declined. During the day, US orders for durable goods fell 14.4 percent in March when the outbreak began, while consumer confidence fell to 71.8 in April. US President Donald Trump approved an additional $ 484 billion budget bill passed through Congress to combat the new type of coronavirus outbreak. At the end of the day, as a result of the dollar's failure to maintain its strong stance, it was observed that the exchange continued its upward limited movement. Health Minister Fahrettin husband yesterday, a total of 110 thousand 130 cases in Turkey, the loss of life was announced that 2 thousand 805 rose. Technically, it was observed that the exchange rate remained decisive at 6.96. If the upward trend in the exchange rate continues with the upward trend, the 6.99, 7.02 and 7.05 levels are important resistance levels to follow. 6.94, 6.91 and 6.89 support levels can be followed in the downward movement of the possible sales and the downward trend in the exchange rate.   EURTRY On the fourth trading day of the week, the April 23rd National Sovereignty and Children's Day and the 100th opening anniversary of the Turkish Grand National Assembly, the April Manufacturing PMI Index announced in the Euro Area ranged from 44.5 to 33.6 and the Service PMI Index from 26.4 to 11. Had dropped to 7. The real sector confidence index announced domestically on the last trading day of the week was 66.8 in April with the effect of the virus, the lowest level since February 2009, and the capacity utilization rate in the manufacturing industry decreased by 13.7 points to 61.6 percent compared to the previous month. The IFO business world index announced in Germany fell to a record low of 74.3 in April, while European Union leaders agreed to assist EU member states in the economic downturn. While the destructive effects of the corona virus continue in the global markets, it is observed that the cross continues its upward limited movement at the end of the day with the developments followed. Technically, it was observed that the cross continued to be decisive at the 7.55 level. If the upward trend continues as long as it remains above the 7.52 support level, the levels of 7.57, 7.60 and 7.63 are important resistance levels to follow. 7.52, 7.50 and 7.47 support levels can be followed in the downward trend in the possible sales and the exchange rate trend.  US President Donald Trump approved an additional $ 484 billion budget bill passed through Congress to combat the new type of coronavirus outbreak. While the devastating effects of the corona virus continue in the global markets during the day, the pair is followed by the upward movement. Technically, it has been observed that the pair continues to be decisive at the 1.0840 level. If it remains above the 1.08 support level, 1.0880, 1.0920 and 1.0960 levels are important resistance levels to follow, respectively. In case of downward movement of the pair, 1.0800, 1.0760 and 1.0720 support levels can be followed.    XAUUSD On the fourth day of the week, it was followed that Ons Gold maintained permanence above the level of $ 1700, while the attention was followed by the focus of the governments and central banks on expectations regarding new incentives to eliminate the effects of the virus. On the last trading day of the week, the strong demand of the US Dollar created pressure on Gold during the Asian session, while it was observed that the precious metal continued its limited losses at the end of the day. Technically, it was observed that Ons Gold continued to be decisive at the level of $ 1721. If Ons Gold continues its upward movement with increasing demand, 1728, 1736 and 1743 levels are important resistance levels to follow. In case of a possible downward move, 1714, 1706 and 1699 support levels can be followed in the short term.     GBPUSD On the fourth trading day of the week, April PMI Indices were followed in the UK and the USA. Retail Sales data in the UK fell 5.1% in March, on the last trading day of the week. In the US, orders for durable goods fell 14.4 percent in March when the outbreak began, while consumer confidence fell to 71.8 in April. US President Donald Trump approved an additional $ 484 billion budget bill passed through Congress to combat the new type of coronavirus outbreak. While the destructive effects of corona virus continue in global markets during the day, it has been observed that the pair continues its upward limited movement with the developments followed. Technically, it was observed that GBP / USD continues to be determinant at 1.2430 level. As long as the uptrend in the parity continues as long as 1.2350 support level remains above, 1.2480, 1.2540 and 1.2600 are important support levels to follow. 1.2350, 1.2300 and 1.2240 support levels should be followed in the downward movement of the potential sales and the downward trend in the parity.   USDJPY On the fourth trading day of the week, April PMI Indices were followed in Japan and the USA. The National CPI data announced in Japan on the last trading day of the week increased by 0.4 percent on an annual basis. In the US, orders for durable goods fell 14.4 percent in March when the outbreak began, while consumer confidence fell to 71.8 in April. US President Donald Trump approved an additional $ 484 billion budget bill passed through Congress to combat the new type of coronavirus outbreak. It was observed that the USDJPY parity was continuing its downward movement with the developments followed at the end of the day. Technically, it was observed that USD / JPY parity continues to be determinant at 107.20 level. If the downward trend continues as long as it remains below the 107.40 resistance level, 107.00, 106.80 and 106.60 levels are important support levels to follow. If the upward trend in the pair is likely to be upward with possible purchases, resistance levels of 107.40, 107.60 and 107.80 can be followed.  BRENT OIL On the fourth trading day of the week, it was followed that it remained under pressure due to the continuing global supply abundance originating from the coronavirus. At the end of the day, it was observed that Petrol continued to collect limited with the developments followed. On the last trading day of the week, it was observed that the attention continued to move horizontally at the end of the day, with the attention turned to production cuts in response to the falling demand due to coronavirus measures. Technically, it was observed that Brent Oil continued to be decisive at the level of $ 21.00. 20,20, 19,40 and 18,50 are important support levels to follow if the downtrend in Petrol continues, as long as it remains below the 21.90 resistance level. 21,90, 22,80 and 23,80 support levels can be followed in the upward movement of the trend with possible purchases.   GAUTRY On the fourth trading day of the week, the April 23rd National Sovereignty and Children's Day and the 100th opening anniversary of the Turkish Grand National Assembly were celebrated, while the limited withdrawal was followed by the data announced in the USA, while on the Ons Gold side, it was followed by the rise in incentive expectations. Gram Gold continued its upward movement as a result of the developments followed during the day and increasing demand for secure assets. On the last trading day of the week, it was observed that Gram Gold continued its horizontal movement at the end of the day with the strong stance in Ons Gold and the dollar observed by the exchange rate. Technically, it was observed that Gram Gold continued to be decisive at the 386 level. 390, 393 and 396 are important support levels to follow if the upward trend continues with the purchases that may come as long as the 383 support level remains above. 383, 380 and 377 support levels should be followed in the downward movement of the potential sales and the trend in Gram Gold.   Trusted Forex Companies