All eyes are on the data from the USA

Core personal consumption expenditures in the USA fell by 0.2% on a monthly basis, against expectations by 0.3%, indicating that the pressure on expenditures caused by the loss of momentum in the inflation increase has eased. Evaluations increased in the markets that the necessary conditions were met in inflation indicators for the FED to loosen the monetary policy. In addition, the ISM manufacturing index, which was announced below expectations in November, pointed out that manufacturing industry activity in the country declined for the first time in the last 2.5 years.

All eyes are on the data from the USA

Unemployment claims in the US in the week of November 26 came in 10K below expectations.
The DXY index, which shows the value of the US dollar against other developed country currencies, took its lowest value since the end of June with 104.7. The news about easing in the Covid-19 measures from China is welcomed positively.

Non-Farm Employment data will be received by the USA today at 16.30 Turkish time, the expectation is 200K. A data higher than expected may cause negative activity in the markets.
In addition, the unemployment rate will be announced from the USA on the same hour, the expectation is 3.7%. If the data is above the expectation, it may cause positive activity for the market. Bitcoin, which has seen pullbacks after two days of rising, has fallen below an important level of $ 17000 in the morning and shows activity at $ 16955.

When the four-hour chart is examined;

If it stays below the -17,000 level and continues to retreat, $16700 can be expected to work as support, followed by the upper band of the channel at $16400. If it fails to hold on to these levels, a pullback can be seen up to $15700, the middle band of the channel. With an upward movement, it will be important to price above the $17000 level again. If $17,000 is exceeded, the key resistance level of $17815 can be met, followed by $17330 in the continuation of the uptrend. For cryptos that move sideways negatively during the day, the Non-Farm Employment data from the USA today can determine the direction. A day when volatility will be high is waiting for us.