SAFAKNA, TURKEY. While recessionary pressures intensified in the US continue to influence investor decisions, it is seen that demand for long-term assets in the bond markets increased, while the stock markets continued their downward trend until the fourth trading day.
Analysts noted that the main uncertainty in pricing is related to the question of where the US Federal Reserve (Fed) will stop raising interest rates next year, and said that the intense macroeconomic data calendar, which will last until Friday, will have an impact on the direction of the markets.
Analysts, drawing attention to the importance of the data published today on the US housing sector, stated that possible deviations from expectations in the published data may introduce volatility to the markets.
Yesterday, the New York stock market followed a selling trend, while the S&P 500 shed 0.90%, the Nasdaq fell 1.49% and the Dow Jones fell 0.49%. Futures for indices in the US also started the new day with a decline.
On the European side, despite a limited buying trend yesterday, European Union (EU) member states have agreed to apply a maximum price of 180 euros per megawatt hour to natural gas.
Analysts noted that the decision under consideration could raise tensions with Russia and said steps Russia would take on the issue would be closely monitored.
Klaus Müller, head of the Federal Grid Agency (Bundesnetzagentur), which regulates Germany’s energy market, warned that gas shortages could occur in the country in January and February.
On the other hand, according to data released yesterday in Germany, the December Ifo business index in Germany was above expectations with a figure of 88.6.
The developments saw the DAX 40 index up 0.36 percent in Germany, the FTSE 100 index up 0.40 percent in the UK and the CAC 40 index up 0.32 percent in France, while the FTSE MIB index in Italy was flat. changes. Futures for indices in Europe started the new day with a decline.
With the Bank of Japan (BoJ) monetary policy decisions in Asia and rising cases of the novel coronavirus (Kovid-19) in China, stock markets are following a sell-led course.
Although the Bank of Japan kept its policy rate unchanged at -0.10 percent, it increased the range used by Japan to manage the 10-year yield curve by 25 basis points.
Analysts said the decision in question indicates that the bank may change its monetary policy following pressure on prices.
With the decision of the Bank of Japan, the dollar/yen parity fell by 2.7 percent to 133.3, while the yield on Japan’s 10-year bonds exceeded 0.4 percent.
The People’s Bank of China (PBOC) also left its annual lending rate unchanged at 3.65%.
On the other hand, an increase in the number of Covid-19 cases in the country continued to increase uncertainty about the economy, reducing risk appetite.
On these developments, the Nikkei 225 index in Japan fell 2.6 percent, the Shanghai composite index in China fell 1.4 percent, the Kospi index in South Korea fell 1 percent, and the Hang Seng index in Hong Kong fell 1.9 percent. percent.
Domestically, the BIST 100, which followed a strong buying streak yesterday, closed the day at a record high of 5,391.91, up 3.41 percent, to hit its high of 5,403.98.
The dollar/Turkish lira pair, which closed the day yesterday at 18.6499 with the exchange rate unchanged, is trading today at 18.640 at the opening of the interbank market.
Analysts said they would watch the country’s consumer confidence today, Germany’s producer price index (PPI), U.S. building permits and housing starts, and Eurozone consumer confidence, technically at 5,430. in the BIST 100 index. He noted that the 5500 levels are in the resistance position, and 5340 and 5250 points are in the support position. WORLD
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