USA
ABD Başkanı Donald Trump, ABD Merkez Bankası Başkanı Jerome Powell’ı politik olmakla suçladı. Trump, yeni Fed başkanı için dört aday olduğunu ve yakında açıklayabileceğini belirtti. ABD ISM Hizmet PMI, Temmuz ayında 50,1 seviyesine gerileyerek piyasa beklentilerinin altında açıklandı. Veri, hizmet sektörünün durgunlaştığını ve mevsimsel ve hava koşullarının iş dünyasını negatif etkilediğini gösterdi. Ülkede dış ticaret açığı ise haziranda %16 azalışla 60,2 milyar dolara gerileyerek Eylül 2023’ten bu yana en düşük seviyesini gördü. Rusya’dan petrol satın aldığı gerekçesiyle Hindistan’a yönelik tarife tehditlerini de sürdüren Trump, bu ülkeden ithal edilen ürünlere getirilen tarife oranını 24 saat içinde “önemli ölçüde” artıracağını ifade etti. ABD Başkanı Donald Trump, Moskova’da Rus yetkililerle görüşmeler yapacaklarını ve bu müzakerelerden çıkacak sonuca göre Rusya’ya uygulanacak yaptırımlar konusunda karar vereceğini belirtti. Ayrıca Trump, Çin ile ticarette anlaşmaya “çok yaklaştıklarını” söyledi. Powell’ın faizleri indirme konusunda geç kaldığına ilişkin eleştirilerini yineleyen Trump, Fed başkanlığı görevine gelebilecek olası isimlere değinerek, Bessent’in mevcut görevinde kalmak istediğini dile getirdi. Diğer yandan Trump, yarı iletkenler ve çiplere yönelik yeni gümrük vergilerini en erken önümüzdeki hafta açıklayacağını söyledi. Dünkü kapanışta Dow Jones endeksi %0,14 azalışla 44.111,74 puana geriledi. S&P 500 endeksi %0,49 azalarak 6.299,17 puana ve Nasdaq endeksi %0,65 kayıpla 20.916,55 puana indi. ABD Başkanı Donald Trump’ın tarifelere ilişkin yeni açıklamaları ön planda kalmaya devam ederken, makroekonomik veri tarafında akışın sakin olduğu Fed yetkililerinin açıklamaları takip edilebilir.

Europe
In the Eurozone, the services PMI, which was 50.5 in June, rose to 51.0 in July, its highest level in the last six months. In Germany, Europe's largest economy, the composite PMI rose from June to 50.6. The services PMI also rose in July, reaching 50.6. Both exceeded market expectations. Eurozone retail sales data is expected to be released today.

 

Türkiye
The CPI-based real effective exchange rate decreased by 0.66 points to 69.36 in July compared to the previous month, marking its lowest level in 10 months. Treasury and Finance Minister Mehmet Şimşek announced that the amount of funding provided by the government for 2025 exceeded $7 billion. While data flow was relatively weak yesterday, it remains quiet today. There was no significant domestic data flow throughout the week.

 

EUR/USD
The Eurozone services PMI, which was 50.5 in June, rose to 51.0 in July, its highest level in the last six months. In Germany, Europe's largest economy, the services sector
PMI da Temmuz’da artış göstererek 50,6 seviyesine çıktı. ABD ISM Hizmet PMI, 50,1 seviyesine gerileyerek beklentilerin altında açıklandı. Ülkenin dış ticaret açığı ise haziranda %16
decreased to $60.2 billion, reaching its lowest level since September 2023. While US President Donald Trump's new statements on tariffs are being followed, Russia
Tariff threats against India continue due to its oil purchases. The price of the pair is between the averages, and resistance levels are 1.1600, 1.1624, and 1.1660.
Support levels to watch are 1.1540 – 1.1503 and 1.1480. Intraday technical levels include:
Supports: 1.1540 -1.1503 – 1.1480
Resistances: 1.1600 – 1.1624 – 1.1660

 

GBP/USD
The GBP/USD parity, which saw increases in the first half of the year due to the global weakening of the dollar, saw corrections in the second half of July.
In the parity where a fluctuating course is followed in the past few days, it is seen that the 100-day exponential average (1.3318) acts as a strong resistance. On Thursday, August 7, the UK Central Bank
The Bank of the Republic of Turkey (BoE)'s interest rate decision will be closely monitored, and it is anticipated that the BoE may cut it by 25 basis points. As long as the GBP/USD pair remains below 1.3318,
The weak/choppy trend may continue. In this case, the 1.3260-1.3200 range and then the 1.3140 level supported by the 200 EMA indicator can be monitored as support. Reaction
Intraday technical levels will be monitored as follows: 1.3318 and 1.3350 - 1.3435.
Supports: 1.3260 – 1.3234 – 1.3200
Resistances: 1.3318 – 1.3350 – 1.3400

 

XAU/USD
Gold fluctuated between 3.350$ and 3.390$ yesterday, closing the day around 3.380$ with slight gains. Yesterday, the ISM non-manufacturing PMI released in the US was 50.1 in July.
While it did not meet expectations, it remained above the threshold of 50. Following the weak US employment data, the expectation of an interest rate cut at the Fed's September meeting was high in the market.
%87 olasılığın üzerinde fiyatlanmakta. Bu süreçte sarı metalde yükseliş yönlü hareketler izlenmekte. Bugün önemli bir veri akışı bulunmamakta olup, teknik seviyelerin ön plana
We may have a day where it could break out. Intraday technical levels:
Supports: 3390 – 3438 – 3451
Resistances: 3350 – 3327 – 3310

 

XAG/USD
Weak US non-farm payroll data on Friday bolstered expectations for a Fed rate cut, leading to a surge in precious commodities in recent days.
While increases are observed, silver prices are trading sideways this morning, around $37.80 per ounce. Technically, silver is expected to remain above $37.00.
It is important to maintain the rise for continuity. During the rise, the levels 38.00 - 38.25 can be followed as resistance. Recent rises
Following this, possible corrections may lead to pullbacks towards 37.44 - 37.00 levels. Intraday technical levels;
Supports: 37.44 – 37.00 – 36.72
Resistances: 38.00 – 38.25 – 38.60

 

Brent Crude Oil
On the oil supply side, OPEC+ countries increased their daily oil production by 547 thousand barrels in September and Russia-Ukraine negotiations continue to be followed.
US President Donald Trump's tariff threat against India due to its purchases of Russian oil raises supply concerns.
On the demand side, US and China manufacturing PMI data fell short of expectations, while yesterday's US ISM services PMI came in below expectations at 50.1.
The American Petroleum Institute's weekly crude oil inventories decreased by 4.2 million barrels, exceeding expectations. Brent crude futures intraday technical data
as levels;
Supports: 67.51 – 67.14 – 66.65
Resistances: 68.86 – 69.45 – 70.99

 

Crude Oil / WTI
On the oil supply side, OPEC+ countries increased their daily oil production by 547 thousand barrels in September and Russia-Ukraine negotiations continue to be followed.
US President Donald Trump's tariff threat against India due to its purchases of Russian oil raises supply concerns.
On the demand side, US and China manufacturing PMI data fell short of expectations, while yesterday's US ISM services PMI came in below expectations at 50.1.
Meanwhile, the American Petroleum Institute's weekly crude oil inventories decreased by 4.2 million barrels, exceeding expectations. Intraday technical data for crude oil futures
as levels;
Supports: 65.01 – 64.65 – 64.14
Resistances: 66.00 – 66.37 – 67.36

 

Nasdaq (Near Term)
US stock markets, which recovered their losses following the non-farm payroll data on Monday, experienced a volatile trend yesterday. US President Trump's statements and the potential Russia
Developments regarding sanctions remain on the agenda. The Dow Jones Industrial Average fell by 0.14, the S&P 500 by 0.49 and the Nasdaq by 0.65. Technical performance in the Nasdaq index futures contract
Maintaining stability above 23,345 is crucial for the continuation of upward attempts. In this case, the 23,500 - 23,700 region can be tested again. 23,345
Below this level, the 23,000 - 22,400 zone can be followed as support. As intraday technical levels;
Supports: 22,980 – 22,870 – 22,660
Resistances: 23.345 – 23.510 – 23.620

 

Dow Jones (Near Term)
Maintaining the Dow Jones index above 44,000 in the short term is important for the continuation of the increases.
The 44,600 - 44,850 region could be tested in pricing. If the 44,000 region is broken during the pullbacks, the selling trend could resurface. At this point, 43,850 is the first
It will be monitored as a strong support area. Intraday technical levels:
Supports: 44,000 – 43,850- 43,650
Resistances: 44,440 – 44,630 – 44,850

 

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.