What Happened?
• President Erdoğan: (Trump – Putin meeting) The talks held in Alaska have given new momentum to the search for an end to the Russia – Ukraine war.
• At the joint meeting held after the Trump-Putin meeting, Putin was the first leader to speak. Stating that the meeting was extremely important, Putin stated that the central issue was the Ukraine crisis, saying, “If the Ukraine issue is to be resolved, the root causes of the conflict must be eliminated.”
• Trump: We've made real progress. There are still a few key issues we don't fully agree on yet. It's not a deal until it's agreed upon.
• US President Trump called on Ukrainian President Zelenskiy to give up Crimea and joining NATO.
• According to media reports, it was claimed that Trump wanted to hold a Russia-Ukraine-USA trilateral summit by August 22.
• White House Trade Advisor Navarro: If India wants to be treated as a strategic partner of the US, it must start behaving like one.
• US-India trade talks scheduled for August were canceled.
• Barclays thinks the Fed, which sets interest rates, remains divided on whether to cut rates in September

 

EURUSD
The parity started the new trading day with a mixed trend. Starting the first trading day of the week at 1.171, the parity maintained its fluctuating outlook in the following trading hours. Continuing its price movements at the highest levels of August, the parity gained approximately more than 2 percent since the beginning of the month. The Trump-Putin meeting, which was closely followed by European and global markets, was held. Although the meeting was made with an opening towards ending the war between Russia and Ukraine, no ceasefire was mentioned in the joint press statement. US President Donald Trump said, "It's not a deal until an agreement is reached." Considering the Alaska meeting, where the talks were postponed to a second round, it did not sign any concrete steps. Following the meeting, Europe, in a statement made over the weekend, stated that they would support holding a trilateral summit. Geopolitical risks and economic data flow will be closely monitored. Technically; 1.1732 – 1.1788 – 1.1832 as resistance points; The levels 1.1678 – 1.1629 – 1.1573 can be followed as support points.

Resistance 1– 1.1732
Resistance 2– 1.1788
Resistance 3– 1.1832
Support 1– 1.1678
Support 2– 1.1629
Support 3– 1.1573

OIL
A selling trend prevailed in oil on the first trading day of the week. Crude, which started the new trading day with a selling trend, started at 62.09 levels and lost nearly 1 percent at the opening, retreating to 61.64 levels. The closely followed agenda on the oil front was undoubtedly the Putin-Trump meeting. The press release regarding the meeting held on Friday, August 15th was made approximately 3 hours later. Stating that they reached an agreement on important issues in the meeting, Trump also underlined that there is no agreement yet. Looking at the oil front, it is observed that the downward trend continues. Oil, which has failed to break the previous peaks, continues its August performance with a loss of over 10 percent. Following the Trump-Putin meeting, President Trump will also meet with Ukrainian President Zelensky and the decisions and statements he makes following the talks could cause volatility on the oil front. Geopolitical risks, additional tariffs and economic data flow will be closely monitored. Technically in Crude; The levels 63.09 – 64.39 – 66.29 can be followed as resistance points, while the levels 61.47 – 59.92 – 57.83 can be followed as support points.

Resistance 1–63.09
Resistance 2–64.39
Resistance 3–66.29
Support 1–61.47
Support 2–59.92
Support 3- 57.83

Gold
Gold, which started the new trading day of the week on a slightly positive note, opened at 3,334 ounces. After retreating to $3,323 in the following trading hours, gold exhibited an upward trend near the opening of Asian markets. Safe-haven gold, which has been on a volatile trajectory recently due to the impact of US-Russia talks, continues to maintain its volatile trend. No announcement regarding a ceasefire was made during the US-Russia talks, while a meeting between the Ukrainian President and President Trump is expected in the coming days. As we know from US President Donald Trump's previous statements, he emphasized that Ukraine would need to sacrifice some territory to end the war. However, this demand was firmly rejected by both Ukraine and Europe. The lack of an agreement could continue to buoy gold in the coming period. The return on gold per ounce has remained above 1.5% since August. Geopolitical risks and economic data flow will be closely monitored in this safe-haven currency, where both declines and increases have been limited in the past few months. In terms of technical outlook, gold, which had a weak day in terms of the economic calendar, can be followed as resistance levels at 3360 – 3376 – 3390, and support levels at 3340 – 3325 – 3310.

Resistance 1– 3360
Resistance 2– 3376
Resistance 3 – 3390
Support 1–3340
Support 2–3325
Support 3–3310

Warning:

Investment information, comments and recommendations provided herein are not within the scope of investment consultancy. Investment consultancy services are provided by authorized institutions on a personalized basis, taking into account the risk and return preferences of individuals. The comments and recommendations contained herein are of a general nature.. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making investment decisions based solely on the information contained herein may not produce results that meet your expectations.

This report has been prepared by us using sources we consider accurate and reliable. It is intended to assist investors in making their own investment decisions and is not intended to influence their decisions regarding the purchase or sale of any investment instrument. No connection can be established between the investment decisions made by investors and the opinions, information, or data contained in this report, and neither the company's employees nor ALGO YATIRIM are responsible for any errors or losses that may arise as a result of such decisions.