ANALYSIS
NQ100 Finds Support from PPIApr 14
Pound Cannot Find Demand Against Euro
In the face of high inflationary pressures, the President of the European Central Bank (ECB), Christine Lagarde, underlined that they will not allow inflation to be fueled, and gave the signal for the continuation of interest rate hikes. With the effects of this, we see that the euro has been gaining value against the pound. On the pound side, there is pressure from the recession projections for the last quarter at the monetary policy meeting where the Bank of England (BoE) increased interest rates by 75 basis points yesterday. From this point of view, the level of 0.8785 will be followed closely in the EURGBP parity, which is headed for a minor uptrend with the end of the downtrend. If it can be crossed over here permanently, the upward steps can continue up to 0.8825 resistance. In possible retracement movements, 0.8690 and 0.8640 supports may come to the fore.
