ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD:Parity on Recovery Path
Recently, we have seen that the parity is under pressure due to the aggressive tightening messages from the US Federal Reserve (Fed) members regarding the monetary policy, the US 10-year Treasury yields, and the strong outlook of the dollar. However, in the minutes of the European Central Bank's (ECB) monetary policy dated April 13-14, published today, most Governing Council Members are of the opinion that net asset purchases should end sooner rather than in the third quarter, and interest rates will rise shortly thereafter. They pointed out that the possibility should be evaluated. With these explanations, it was seen that the parity headed towards the recovery path. Technically speaking, if the pair that made the intermediate trend change can break above the critical 1.0600 level permanently, it could regroup its losses up to 1.0640 resistance. In possible downside easing, 1.0500 and 1.0465 supports will be followed.
