ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30:Bond’s Pressure Continues in Index
The complex statements of the members of the Federal Open Market Committee (FOMC) strongly rasped the expectations of a 75 basis point rate hike in the markets for the June meeting. With the opening of the US session, some recovery was observed in the DOW30 index due to the reactions of this area. In addition, the flexibility of the European Union's (EU) oil embargo plan for Russia and the oil prices in Shanghai, known as China's financial center, and the capital Beijing, which have declined with the extension of coronavirus precautions, are also contributing to the issue. However, the pressure of the dollar index, which has reached the peak of 20 years with interest rate expectations on DOW30 is still in question by taking advantage of the sales wave in the global bond market. At this point, as long as the 33 000 resistance, which is an important determinant, is not overcome with permanent closures, the potential will continue to be formed in the index pricing, and if the 32 140 support can be broken, the support of 31 655, which will be the lowest level since March 2021, may be on the agenda.
