Global markets focused on the inflation data to be announced in the USA. While global markets followed a positive trend last week with the evaluations of US officials and the data announced in the country indicating that economic activity has slowed down, this week's attention is on the inflation data to be announced in this country and the evaluations of US Federal Reserve (Fed) Chairman Powell. Macroeconomic data released in the USA last week increased the possibility of the Fed reducing interest rates in September. According to the data announced in the country, non-agricultural employment increased by 206 thousand people in June, exceeding expectations, while the unemployment rate increased from 4 percent to 4.1 percent. Average hourly earnings, which the Fed carefully monitors, increased by 0.3 percent, within expectations. Average hourly earnings increased by 0.4 percent in May. Although employment increased more than expected in June, downward revisions in April and May data and the slowing pace of growth in average hourly earnings provide additional evidence that the US labor market is softening. U.S. payroll figures released Friday strengthened the case for the Federal Reserve to shift its focus to interest rate cuts. On the agenda of the new week, after employment data, there is Inflation data from the USA. We will see whether the idea that the Fed may make 2 interest rate cuts in the actions it will take will occupy the agenda or whether the concern about the rigidity of inflation will put pressure on the Fed.
Asian stocks rise as Taiwan Semiconductor Manufacturing rises rose as it helped push the region's benchmark stock index higher. MSCI Asia Pacific stock index rose as much as 0.4% and Morgan Stanley cut its price target for the business. After its upgrade, heavyweight TSMC reached a new peak.
While a positive trend prevailed in European stock markets last week, according to the exit poll conducted in England, the Labor Party gained a majority in the House of Commons with 410 MPs in the general elections. In France, the second round of the early election decision taken after the far right came first in the European Parliament (EP) elections will be held on Sunday. The possibility that the far-right party may not gain an absolute majority in France is a risk on European stock markets. It supported his appetite. The euro fell slightly on concerns about France's post-election finances. The euro's losses were cushioned by the announcement that no French political party had won the majority needed to take power in Sunday's runoff election. The result is every It could limit the dominance of the left-wing New Popular Front coalition and Marine Le Pen's National Rally Party, both of which demand higher government spending.
EURUSD parity is at $ 1.0850 levels on the new day. When I evaluate the Euro-Dollar parity in the short term, 1.0860 and 1.0915 levels can be followed in a positive outlook. Otherwise, if the negative outlook comes to the fore, the 1.0760 - 1.0710 region may be followed below the 1.0805 level. Inflation data from the USA is on this week's agenda.
As of this morning, Ounce Gold is trading at $ 2383.84. When we evaluate the ounce gold price, the continuity of the course above the 2380.95 level will be important. Above the said level, levels 2392 - 2407 - 2420 - 2450 can be followed gradually. Otherwise, in a negative scenario, there may be sales pressure towards the averages. For pricing that may occur below the $ 2380 level, support points of 2367 - 2340 - 2319 - 2300 can be noted.
Bitcoin, bankrupt Mt. It fell along with other cryptocurrencies due to concerns about possible sales of the token by creditors of the Gox exchange. In China, the central bank has sought to exert greater control over market interest rates by announcing additional open market operations and tightening the band within which short-term rates can fluctuate. I wish you a profitable day.
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