ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD Retreated Below 1.0000
Yesterday, the European Central Bank (ECB) increased interest rates by 75 basis points for the second time, giving some support to the euro as the first reaction. However, the support for the euro ended when the bank did not put on the agenda a planned downsizing of the balance sheet. As a matter of fact, after the meeting, ECB President Lagarde pointed out that they expect the regional economy to slow down significantly for the rest of the year. In addition, the 2.6% growth of the US economy in the third quarter strengthened the dollar, increasing the pressure on parity. Technically, if the EURUSD parity, which started to move downwards with the end of the minor uptrend, passes below 0.9900 permanently, the 0.9860 level can be put on the agenda. In possible upward movements, 1.0020 resistance will be followed closely.
