Fed and Employment Data Steering Markets: Critical Assessments by Dr. Nuri Sevgen

The U.S. Dollar Index (DXY) is trading at 100.80, down 0.52% over the past 24 hours. While the RSI at 37.97 approaches oversold territory, the MACD line remains below the signal line in negative territory. Price action below the 20- and 50-day moving averages suggests continued short-term weakness. Headlines emphasize that employment data and Fed guidance are critical for markets, implying persistent downside pressure on the dollar index. However, the low RSI level indicates that a short-term rebound cannot be entirely ruled out.

NDX fell 1.32% in the last session, with RSI declining to 37, approaching oversold territory. MACD remains below the signal line and in negative territory, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages, reflecting a weak technical outlook. Headlines suggest ongoing uncertainties regarding the Fed and employment data, which could increase selling pressure in the near term. However, the RSI nearing oversold levels may signal a potential corrective bounce, though the overall trend remains bearish.

The USDTRY pair may follow a sideways trajectory in the short term. The RSI at 59.4 is neither in overbought nor oversold territory, offering no clear directional signal. Although the MACD line remains above the signal line, the gap is very narrow, indicating weak momentum. The price is above both the 20-day and 50-day moving averages, but the distance from these levels suggests limited upward strength. While the news headline references the Fed and employment data, the absence of concrete data or policy changes means no decisive market impact is expected.