The New York Fed manufacturing index showed that the contraction continued in July. The manufacturing index announced by the New York branch of the US Federal Reserve (Fed) was minus 6.6 in July, indicating that the contraction in the sector continued. Market expectations were that the index would reach minus 5.5 in this period. The index, which points to the contraction in the manufacturing sector for the eighth consecutive month, was minus 6 in June. A value above zero in the manufacturing index, which provides information about the outlook in the production sector, indicates growth in the sector, while a value below zero indicates a contraction in the sector.

Fed Chairman Powell pointed out that the latest inflation data "increases confidence somewhat." US Federal Reserve (Fed) Chairman Jerome Powell stated that three data from the second quarter of this year "somewhat increased confidence" that inflation had fallen to 2 percent. Powell made evaluations at the event organized by the Washington Economic Club. When asked about the impact of the assassination attempt on former US President Donald Trump on the markets, Powell said, "It is truly a very sad day for our country." he replied. "Political violence has no place in our society, and I condemn it in the strongest terms," ​​Powell said. said. Answering questions about monetary policy, Powell explained that the US economy has performed very well in the last few years. Powell stated that they could not make any further progress on the inflation side in the first quarter, and said that some more progress was made in the second quarter. He did not provide an answer regarding the timing of the interest rate cut. When asked about the pricing in the money markets regarding the possibility of the Fed's first interest rate cut in September, Powell said, "I will not give any signals one way or another regarding any meeting." said. Reiterating that they will make their decisions from meeting to meeting, Powell also emphasized that these decisions will be based on data.

The price of Bitcoin approached 63 thousand dollars. The price of the cryptocurrency Bitcoin rose above $62,000 due to expectations that his chances of winning the presidential race increased after the assassination attempt on former US President Donald Trump. According to data from analysis company Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, increased by 4.1 percent in 24 hours, reaching 2 trillion 300 billion dollars. Analysts state that the increase in the prices of Bitcoin and other cryptocurrencies occurred due to the expectation that the possibility of winning the presidential race increased after the assassination attempt on Trump, who made positive comments about cryptocurrencies.

Let me tell you that an intense data agenda will be followed, especially the European Central Bank (ECB) interest rate decision, housing starts and construction permits in the USA, growth in China, inflation in the Euro Zone, England and Japan.

EURUSD parity is at $ 1.0889 levels on the new day. When I evaluated the Euro-Dollar parity in the short term, I observed a trend from 1.0665 at the bottom point where the upward movement started, to 1.0925 in the upward transactions. When we look at it as of July, Euro gained 1.63% value against the Dollar this month. I would like to emphasize that my optimism about the parity will continue for a while as a result of the backward movements of the Dollar Index and its departure from the positive trend.

As of this morning, Ounce Gold is trading at $ 2431.46. As long as ounce gold moves above the averages I follow in the short term, I maintain our positive expectations. The 2439.73-2450.10 region above will of course be on my radar. When we look at it as of July, I can talk about a 4.53% increase in gold pricing. In order for the downward trend to come to the fore, the $ 2420.08 and $ 2400.00 support points below will be under my watch. The precious metal has gained 17.89% in value since the beginning of the year. I will continue to monitor the continuation of the 0.88% rise seen as of this week and the critical resistance points. I wish you a profitable week.

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