What Happened?
• White House Spokesperson Leavitt stated that US President Trump is not happy with Russia's recent attacks on Kiev, saying, "The President wants this war to end, but perhaps both sides of this war are not yet ready to end the war."
• German Chancellor Merz said that direct talks between Russian President Putin and Ukrainian President Zelenskiy will not take place, despite the Trump administration's continued pressure for a peace agreement.
• According to the Financial Times, the Canadian government does not expect Trump to completely remove the customs duties imposed on the country.
• Fed Board Member Waller stated that he would support a 25 basis point cut in interest rates in September.
• The Financial Crimes Enforcement Network, a division of the U.S. Treasury Department, warned financial institutions about Chinese money laundering networks that pose a significant threat to the country's financial system.
• Lisa Cook filed a lawsuit against Trump.

EURUSD
Markets followed the survey released by the European Commission. According to this survey, the consumer confidence index in the Eurozone stood at -15.5 in August. This data was -14.7 in July. Meanwhile, the minutes of the European Central Bank's monetary policy meetings were reviewed. The minutes indicated that officials generally assessed the risks to inflation as balanced and that the outlook for consumer prices remained intact. The European Central Bank's monetary policy committee meeting will take place in mid-September. Market expectations are generally that the bank will not change interest rates at this meeting. On the final trading day of the week, markets will be watching the CPI data from Germany, the eurozone's leading economy. The data will be released at 3:00 PM Turkish Time (GMT+3). All eyes will then turn to the US. Global volatility will also increase with the release of the Personal Consumption Expenditures Index at 3:30 PM Turkish Time (GMT+3). If we examine the EURUSD parity technically, the levels 1.1700 – 1.1746 – 1.1788 can be followed as resistance points, and the levels 1.1631 – 1.1583 – 1.1525 can be followed as support points.

Resistance 1–1.1700
Resistance 2– 1.1746
Resistance 3– 1.1788
Support 1– 1.1631
Support 2– 1.1583
Support 3– 1.1525

OIL
Looking at the weekly performance of oil on the last trading day of the week, prices were slightly above the week's opening level. Midweek, markets followed economic data on crude oil inventories from the US. The data revealed that crude oil inventories in the country had decreased slightly above expectations. Meanwhile, expectations for an interest rate cut at the Fed's September meeting increased with the release of economic data and statements from the US. This, in turn, fueled expectations that this could positively impact global growth and global oil demand. Markets are also closely monitoring global developments. While the Russia-Ukraine war hasn't been a major topic of discussion in recent weeks, news on the issue can influence pricing. From a technical perspective, the 65.03, 66.58, and 67.71 levels can be monitored as resistance levels, while the 62.99, 61.50, and 59.92 levels can be monitored as support levels.

Resistance 1–65.03
Resistance 2–66.58
Resistance 3–67.71
Support 1–62.99
Support 2–61.50
Support 3- 59.92

Gold
Gold, which has made gradual upward movements during the week, started the last trading day of the week approximately 1.5 percent above the week's starting level.
Expectations for a September interest rate cut from the Fed were strengthened by announcements and economic data from the US, which also supported the ounce of gold. All eyes on the new day
It will be in the US. The core personal consumption expenditures index, to be released at 3:30 PM Turkish time, could lead to increased global volatility. This data, a leading indicator of inflation, will also shape expectations regarding the Fed's future interest rate policy. A technical analysis of the XAUUSD chart reveals resistance levels at 3425, 3450, and 3470, while support levels at 3400, 3380, and 3360 can be monitored.

Resistance 1– 3425
Resistance 2– 3450
Resistance 3 – 3470
Support 1–3400
Support 2–3380
Support 3–3360

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.