On the market today, eyes are on Fed Chairman Powell's speech. He is expected to speak about the recently rising borrowing costs. Fed Interest Rate will be announced within 2 weeks. This is Powell's final speech before explaining. He had ignored so far the rising bond yields and inflation figures, stating that he saw the potential for economic growth.
President Joe Biden accepted some restrictions on the economic support package. As a result of restrictions, US citizens must have some qualifications to benefit from the new support package. It seems that a stricter process will be followed than the previous support package. This development warmed the moderate Democrats to the point.
In the US, the Non-Manufacturing Purchasing Managers Index and Non-Farm Employment Change data fell below expectations, weakening the dollar yesterday. If the Unemployment Benefit Applications data, which will be announced today, does not meet the expectations, the pressure to sell may increase.
News that the distribution of AstraZeneca vaccine will increase on the Euro side and Germany's announcement on Monday that it will reduce restrictions created an optimistic atmosphere in the Eurozone. EURUSD closed the day flat in the 1.2050 region.
GBPUSD, on the other hand, is in the trend support region at 1.3950. In the budget announced by Rishi Sunak last day, it was observed that the support to the economy increased and additional budget was allocated to help businesses damaged by the corona. The statement created an optimistic atmosphere on the Sterling side.
On the Australian side, there was a record $ 10 billion budget surplus. After the news, AUDUSD rose above 0.78.
The pressure is high on the ounce gold side. The price is trying to hold above $ 1700. The rise of US treasury bonds increases the selling pressure on ounce gold prices.
WTI was on the rise ahead of today's OPEC + meeting, to over $ 61 a barrel. Against Russia's readiness to increase oil production, it is among the rumors that Saudi Arabia is not very friendly to this idea.
On the Bitcoin side, the price started to retreat after testing the 52,650 level the other day. It has difficulty holding above the 50,000 level.
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