ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD:Parity May Deepen the Dissociations
The consumer price index (CPI), published for the Euro Zone, reached a record level of 8.1 percent on an annual basis in May. European Central Bank (ECB) member Robert Holzmann gave some support to the pair when he said that the bank strengthened the policy rate by 50 basis points in July. After the meeting between US President Joe Biden and US Federal Reserve (Fed) Chairman Jerome Powell yesterday, the parity began to unravel, with the hopes that the FED would not reduce the monetary tightening momentum in order to reduce inflation at its 41-year peak, with the strengthening of the dollar's outlook. From this point of view, the parity, which ended the minor uptrend it followed for about 3 weeks, may decline to the 1.0630 support if it leaves the 1.0670 level behind permanently. In the upside scenario, there will be 1.0760 strong resistance.
