20/12/2022 Evening Reports

Markets Moved With Japan's Interest Rate Decision...

While the Bank of Japan (BOJ) did not change the interest rate at -0.10% as expected at the meeting held today, it increased the yield band for Japanese Government Bonds from 25 basis points to 50 basis points. After the decision, BOJ Chairman Kuroda said that they will not hesitate to loosen monetary policy further if necessary, and that today’s decision will be made. He said that there was no interest rate increase, that it was appropriate to continue the loose monetary policy and that they did not intend to increase interest rates or tighten policy.

In Turkey, the Consumer Confidence Index for December, announced today, dropped from 76.6 to 75.6. In December, the Index of Thoughts on Spending on Durable Goods rose to 92.6 from 91.9, while the Index of Expectation for the General Economic Situation fell from 80.5 to 77.3.

Housing Starts decreased by 0.5% and Construction Licenses decreased by 11.2% for November, which we followed in the USA. The figures were 1.427 million and 1.342 million, respectively, on a per unit basis. It was stated that the decrease in the data was due to rising material prices and rising housing loan rates.

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    Support Level: 74.95-73.25-72.50 Resistance Level: 75.74-76.70-78.25

    CRUDE

    CRUDE Watching on Rising Price Trend…

    Crude Oil trades on the rising price trend that we watch hourly. As long as this trend is maintained, 75.74 and 76.70 can be viewed as resistance. In pullbacks, the falling price trend can be followed as an important support. If this trend is broken, downside trades can gain momentum. Let us remind you that weekly crude oil stocks will be announced at 00:30 (GMT+3) tonight.

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    Support Level: 132.33-130.81-129.10 Resistance Level: 133.70-134.51-135.01

    USD/JPY

    USD/JPY After BOJ Decision, It Dropped To 131.99 Level…

    While the Bank of Japan (BOJ) did not change the interest rate at -0.10% at the meeting held today as expected, it increased the yield band for Japanese Government Bonds from 25 basis points to 50 basis points. After this decision, the USDJPY parity decreased to the level of 131.99. Recovery is also seen with purchases from this level. In the continuation of the recovery, 133.70 and 134.51 can be viewed as resistance, while 132.33 and 130.81 can form support in pullbacks.

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    Support Level: 1.0598-1.0510-1.0460 Resistance Level: 1.0640-1.0705-1.0765

    EUR/USD

    EUR/USD – 1.0598 Support Tested…

    Housing Starts decreased by 0.5% and Construction Licenses decreased by 11.2% for November, which we followed in the USA. After the data, 1.0598 support was tested in the EURUSD parity. There was a slight recovery with the support received from this level. In the continuation of the recovery, 1.0640 and 1.0705 can be viewed as resistance. In the pullbacks and pricing below the 1.0598 level, 1.0510 and 1.0460 can form support.

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