ANALYSIS
NQ100 Finds Support from PPIApr 14
Downside Risks in Pounds Still Extremely Strong
The dollar loosened slightly in international markets after the US economy shrank by %0.6 in the second quarter-final reading, confirming a technical recession. However, yesterday, it should be underlined that downside risks in the pound strengthened after the Bank of England (BoE) announced that it would postpone its planned bond sales and purchase long-term temporary assets. In this sense, the range of 1.1085 – 1.1200 is critical in the price outlook of the parity. As long as the mentioned strong resistance range is maintained, the probability of the parity going down to 1.0720 support behind 1.0850 will remain on the table. 1.0595 can be followed if it is below 1.0720.
