ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Focuses on U.S. CPI Data
Yesterday, the minutes of the Federal Open Market Committee's (FOMC) monetary policy meeting dated September 20-21, in which interest rates were raised by 75 basis points for the third time, were published. It was written in the minutes that the Committee decided that they should adopt a more restrictive policy stance and maintain this stance for a while in order to achieve the target of reducing high inflation. In addition, eyes will be on the US consumer price index (CPI) today. A higher-than-expected figure may put the technology index under pressure with the possibility that the US Federal Reserve (FED) may continue its aggressive tightening pace. It should also be noted that before the CPI, the investor risk appetite is low. Technically, if the technology index, which will defend the downward movement as long as it remains below the psychological 11 000 level, falls below the level of 10 650 permanently, the support of 10 500 may come to the fore. In the possible transition above the psychological 11 000 level, 11 140 resistance can be followed.
