ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD Continues to Cling to the Rising Channel
According to the data announced by the European Statistical Office (Eurostat) last week, the expectations that the European Central Bank (ECB) will continue its aggressive tightening path continue to support the euro, after the consumer price index (CPI) broke a record with 10.6% on an annual basis in October. As a matter of fact, some ECB Board Members are giving continuation messages for interest rate hikes. In addition, according to the data of the European Statistical Office (Eurostat), the eurozone's current account deficit of 8.1 billion euros in September, below the expectations of 20.3 billion euros, also has an impact. On the other hand, the hopes that the US Federal Reserve (FED) can evaluate an interest rate hike of 50 basis points rather than 75 seem to moderate the dollar. From this point of view, if the EURUSD parity, which is seen to be clinging to the ascending channel formation, is permanently above the 1.0335 level, it may lead to the 1.0400 resistance. 1.0225 and 1.0170 supports can be followed in possible retracement movements.
