ANALYSIS
NQ100 Finds Support from PPIApr 14
Dissolutions May Intensify in EURUSD
In Germany, Europe's leading economy, producer inflation reached an all-time high of %45.8 on an annual basis in August. Energy prices have been the main driver of the increase in PPI, as reported by the Federal Statistical Office (Destatis). As a matter of fact, yesterday, the German Central Bank (Bundesbank) remarking the energy crisis, pointing out that there are increasing signs that the economy is about to enter a recession. Under this outlook, it is observed that the euro also has difficulty in finding demand. Together with the dollar strengthened before the Federal Open Market Committee (FOMC) meeting in global markets, if parity can end minor channel formation by breaking 0.9945 support, it can update the bottom level of 20 years with 0.9800 behind 0.9885. The range of 1.0080 – 1.0155 above will continue to be a strong resistance zone.
