Forex -
| Time | locale.important | locale.country | locale.event | locale.forecast | locale.previous | locale.actual |
|---|---|---|---|---|---|---|
| 10:00 | United Kingdom (GBP) | Business Investment (QoQ) (Q3) | 1.2% | 1.8% | 1.9% | |
| 10:00 | United Kingdom (GBP) | Current Account (Q3) | -22.9B | -24.0B | -18.1B | |
| 10:00 | United Kingdom (GBP) | GDP (QoQ) (Q3) | 0.1% | 0.4% | 0.0% | |
| 10:00 | United Kingdom (GBP) | GDP (YoY) (Q3) | 1.0% | 0.7% | 0.9% | |
| 16:30 | Canada (CAD) | GDP (MoM) (Oct) | 0.1% | |||
| 16:30 | Canada (CAD) | GDP (MoM) (Oct) | 0.1% | 0.1% | ||
| 16:30 | Canada (CAD) | RMPI (MoM) (Nov) | 0.4% | 3.8% | ||
| 18:00 | United States (USD) | CB Consumer Confidence (Dec) | 112.9 | 111.7 | ||
| 21:00 | United States (USD) | 2-Year Note Auction | 4.274% |
Forex -
According to reports, Xerox Holdings (XRX.O) is nearing a deal that values printer and printing software manufacturer Lexmark International at $1.5 billion, including debt. The report notes that an announcement regarding the acquisition of Lexmark is expected to be made on Monday morning. It is expected that Xerox will finance the deal through a combination of its available cash and committed debt financing.
Aksigorta, as a traditional partner of ITU Core, has added another support to the assistance it provides to startups. Every year, Aksigorta revitalizes successful initiatives with innovative and life-enhancing business ideas. This year, it supported startups developing artificial intelligence technologies in the fields of building and infrastructure health and safe driving at the Big Bang Startup Challenge.
In this context, the company provided grant support to Sensed AI, an innovative observational company in its field. Specializing in urban and agricultural monitoring, Sensed AI offers regular information about the physical integrity and health of buildings and critical infrastructures. The initiative stands out by making remote sensing-based structural and environmental health analyses accessible. Aksigorta also extended similar support to SmartIR, a developer of artificial intelligence technologies that provides deep insights for safety and operational efficiency by analyzing the physiological and behavioral aspects of objects and people, granting each initiative a total of 300,000 TL, amounting to a total of 600,000 TL.
Elif Horasan, Aksigorta's Director of Strategy and Change Management, emphasized the importance of supporting initiatives that will produce next-generation solutions through their partnership in the program. She stated they are focused on being inspired by Insurtech initiatives, collaborating, and working together. "Under our company's strategy unit, we have a dedicated team focused on this area. This team researches initiatives that offer solutions to the industry’s needs and problems and develops collaboration opportunities. As the Gold Partner of ITU Core, we listen to over 100 initiatives each year and evaluate collaboration opportunities," she noted, adding that Aksigorta will continue to support ventures in developing scalable business models as part of their goal to create a sectoral ecosystem in this field.
Forex - Minister of Trade Ömer BOLAT will participate in the 2024 Smuggling Data Evaluation Meeting at the Command Control Center of the General Directorate of Customs Enforcement on December 24. The meeting will take place at the Ministry of Trade and will start at 10:00 AM.
Forex -
The DAXEUR pair may exhibit a calm trend as the new year approaches following the decisions of global central banks. Due to the Christmas holidays in Europe and the USA, it might be a low-volume week in the markets. Growth data from the UK and Canada, as well as data from the US such as durable goods orders, new home sales, and unemployment claims, are expected to be announced. However, due to the holiday season psychology, the impact of these data on the markets may remain limited.
From a technical perspective, the DAX40 index is trading below the resistance zone of 20095 - 20280. Remaining below the 50 and 100 period moving averages indicates that the index is trying to align with a negative expectation. In downward movements, the 20000 and 19900 levels can be monitored as support, with 19800 standing out as the main support zone. The RSI indicator is around 40 levels and shows a negative outlook. For the index to return to a positive trend, it needs to make sustained movements above the averages; in such a case, the 20650 level might come into play again. The index is displaying a horizontal trend, with a 0.05% decrease compared to the previous day.
US natural gas futures are maintaining an upward trend due to increasing global demand expectations and risks to Europe's energy supply from Russia. Trump's warnings for increased natural gas and oil purchases from Europe also support prices. Additionally, the PCE inflation in the US falling below forecasts puts pressure on the dollar while increasing interest in commodities like natural gas. The trend in European and US stocks should be monitored throughout the day.
Technically, as long as the NGCUSD pair manages to stay above the 3.400 – 3.430 support levels, the possibility of an upward movement persists. Holding above these levels could target the 3.535 and 3.580 resistance levels. However, in the event of a potential decline, breaking the 3.400 – 3.430 support could bring the 3.370 and 3.330 levels into focus. The RSI indicator is displaying a positive outlook, supporting a possible rise. It is observed that there is strong upward momentum in the pair with a 3.44% increase compared to the previous close.
Brent crude gained positive momentum after the PCE inflation data in the US fell below expectations, supporting the probability of a rate cut in the Fed's March meeting. This situation gave an upward momentum to oil prices. Additionally, statements by Trump suggesting that Europe needs to buy large amounts of oil and natural gas to maintain trade balances are also putting upward pressure on prices. Movements in European and US stock exchanges continue to be an important indicator for the course of oil prices.
From a technical perspective, Brent is maintaining an upward outlook by holding above the support levels of 72.75 and 72.40. As long as it stays above these levels, the resistance levels of 73.30 and 74 can be targeted. As shown in the chart, the RSI indicator is just below the 50 level and exhibits a neutral trend. If it falls below the 72.40 level, the 72 and 71.50 levels can be monitored as support, respectively. Oil prices show an increase of 0.52% compared to the previous day.
The NDX/USD pair is entering a period in December where lower trading volumes are expected in the markets due to the Christmas holiday. However, growth data from the UK and Canada, along with key data from the US such as durable goods orders and unemployment claims, could create volatility in the markets during this period. With Asian markets starting the week positively and US PCE inflation falling below expectations, a generally optimistic atmosphere prevailed, leading to positive closings in US indices. However, the attention is drawn to the fact that US index futures started the week with losses. This scenario, combined with global economic data, may influence the direction of the indices.
Technically, as long as the NASDAQ 100 index stays above 21600, it seems to have the potential to continue its upward trend. Staying above the 21 and 89-period moving averages indicates that the index could move towards resistance levels of 21800, 21900, and 22000. However, if movements below these levels are observed, pullbacks towards support levels of 21500 and 21400 may be possible. The RSI indicator is at the level of 192.1 and presents a positive outlook. It is also important to note that the index gained 0.90% in value compared to the previous day. This situation could indicate the continuation of a possible upward trend.
The USD/TRY pair is moving with the effect of the Christmas holiday in global markets and the anticipation of the CBRT's Monetary Policy Decisions. The Dollar/TL may exhibit TL-based partial mobility in line with the CBRT's interest rate decision and the messages it will deliver for the future. Looking at the performance of developing country currencies against the US Dollar, we see that the Turkish Lira has a neutral stance. The pair is trading near the level of 35.19 and may remain at these levels due to developments in the domestic market.
Technically, USD/TRY is trading above the 34.98 support level on the 4-hour chart, and staying above this level may allow for the continuation of upward movement. In upward movements, resistance levels at 35.21, 35.28, and 35.33 should be monitored. If the pair stays permanently above the 35.33 level, it could strengthen its current trend-oriented movement. The RSI indicator is at the 48 level, displaying a neutral outlook. Considering a 0.12% decline compared to the previous day, the pair may show a tendency to consolidate in the 34.98 – 35.33 range.
The fact that the PCE inflation announced in the US was below expectations led to a weakening in the dollar index, which supported the recovery efforts of gold. The positive start of the Asian markets and the increase in consumer confidence in the US, painting an optimistic picture, are boosting risk appetite in global markets. Additionally, finding a temporary solution to the debt ceiling issue in the US is also reflecting positively on the markets. However, the release of CB consumer confidence data and the course of European and US stock exchanges could affect the direction of gold.
Technically, as long as the XAU/USD pair remains below the resistance levels of 2633.00 – 2640.00, there seems to be an impression of ongoing downward pressure. In intraday declines, the levels of 2612.00 and 2605.00 can be monitored as support. The chart is being monitored on an hourly timeframe, with the RSI indicator at level 53, showing a neutral outlook. The pair has risen by 0.22% compared to the previous day. For an increase in upward potential, pricing above the 2640.00 level and hourly closings are important. In this scenario, the levels of 2650.00 and 2660.00 could emerge as resistance.
Oil futures began to show an upward trend following the PCE inflation data released on Friday, which supported the possibility of an interest rate cut by the Fed at its March meeting. Additionally, Trump's warning that Europe needs to purchase large-scale oil and natural gas from the US to balance trade with America also contributed to this rise. It is noted that the course of European and US stock markets may also impact oil pricing.
In the WTIUSD chart, as long as prices remain above the 69.70 support, the upward movement continues. The resistance levels of 70.00 and 70.50 are closely monitored during the rises. However, in a decline scenario, closures below the 69.40 support might bring the levels of 69.00 and 68.50 into focus. The RSI indicator is at the level of 56, displaying a neutral outlook. Currently, there is a daily decrease of 0.65% in WTIUSD.
The EUR/USD pair is trading in a period expected to be calm, as global markets experience a slower week due to the Christmas holiday. The release of significant economic data, especially from Europe and the US, may influence the pair's volatility. A holiday mood and dormancy are anticipated in the markets following the interest rate decisions by the ECB, Fed, BoE, and BoJ. However, growth data from the UK and Canada, along with durable goods orders and unemployment claims from the US, could potentially create movement in the pair. The weakening trend observed in the dollar index may support potential rises in the EUR/USD pair.
From a technical perspective, the EUR/USD pair is trading close to the 1.048 resistance level on the daily chart. If the pair surpasses this level, movement towards the 1.0545 level might be observed. On the downside, the 1.0385 and 1.033 support levels are significant. Notably, the 1.033 support level is being monitored as a critical level. The RSI indicator is currently in a neutral position at the 49 level, indicating an indecisive course for the pair. It is noted that the pair registered a 0.12% decrease compared to the previous day. In light of this data, it is considered that the EUR/USD pair may experience fluctuations between the specified support and resistance levels in the short term.
We are entering a week expected to be calm in the markets due to the Christmas holiday. Economic indicators such as the upcoming growth data from the UK and durable goods orders from the US could impact price movements. However, it should be noted that such data might have a limited effect on traders due to the Christmas holiday mindset. As the weak response and strong trend theme continue on the Dollar Index, this situation might also influence the movements of the GBP/USD pair.
Looking at the chart, we can say that the GBP/USD pair is trading in a 1-hour time frame. The pair continues to trade below the strong resistance level of 1.2610, and the current negative trend may persist as long as there is no sustained move above this resistance level. Levels of 1.2565, 1.2525, and 1.2485 are being monitored as support. The RSI indicator is at 45, and the market exhibits a slightly negative outlook. If the pressure on the pair continues, testing the 1.2485 level could be an important indicator of whether the current trend will continue. The pair has experienced a 0.09% decline compared to the previous day.
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