G-7 Leaders to Discuss Bond Sell-Off and Rising Yields

The DXY is trading at 99.28, remaining above its 20- and 50-day moving averages. The RSI at 67.8 is approaching overbought territory but is not yet overbought, preserving short-term upside potential. Although the MACD line is just below the signal line, it remains in positive territory, indicating that momentum has not weakened. The G-7 leaders' meeting to discuss the wave of bond sales and rising yields could increase demand for the US dollar and support the DXY. However, the elevated RSI level and the MACD's proximity to the signal line suggest that the upside may be limited.

Although the USDTRY pair's RSI at 67 is approaching overbought territory, it has not yet entered that zone, and the upward momentum remains intact. The MACD has fallen below the signal line, signaling a potential short-term weakening, yet the price continues to trade above the 20- and 50-day moving averages. The G-7 leaders' discussion of the bond sell-off wave and rising yields could put pressure on emerging market currencies, but this may not directly alter the direction of USDTRY. In the short term, a sideways trend or a limited correction appears more likely.

The G-7 leaders' plan to discuss the bond sell-off wave and rising yields could increase market concerns over interest rate hikes. This creates a negative environment for non-yielding assets like gold. Technically, the RSI being in oversold territory at 18.9 may trigger short-term bargain buying, but the MACD remaining below the signal line and in negative territory indicates the downtrend persists. The 2.5% decline in the last session and the price trading well below the 20-day moving average confirm strong selling pressure. The short-term downtrend is expected to continue.

The G-7 leaders' upcoming discussion on the bond sale wave and rising yields could trigger interest rate hike concerns in the markets. NDX closed below its 20-day moving average (29,341), with the RSI at 45.7, indicating a weak zone. The MACD line remains below the signal line, suggesting negative short-term momentum. This news may further deepen the existing technical weakness, potentially causing the index to retreat toward the 29,000 level.