- Worse than expected USA PPI data results didn't affect the US stock markets and dollar index. The markets closed at their all time highs by moving bit by bit. On the other hand, the primary focus of the day, which is the US real income, CPI, and employment data, continues to support the US dollar against all major currencies. If the results are better than expected, the "rate hike" and "balance sheet" act of FED will be on the agenda again for the September.
- The US is having problems with the Federal Budget, which gave a deficit. On the other hand, Trump tries to implement a tax reform to decline the corporate tax level to %15 from %35, which is going to be more straightforward. However, the budget is already over the limit, and the US secretary does not support this idea of Trump.
- Due to the missed expectation of Chinese data, the Asian markets having a day in the red zone. The profit taking action takes places in the most of the Asian markets, which cause the 10-Year Japanese government bonds' yields to rise by about %40.
- A %0.14 to %0.15 negative opening is expected from BIST 100 due to the sales in the Asian markets. In the case of continuatıes of the sales, the 50 days EMA level of 106.493,72 will be the primary support.
- USD/TRY has more room to increase until the announcement of the US data. If the data are announced better than expected, 3.49 TL level, where the 50 days and 200 days EMA meet, will be the resistance.
- For EUR/TRY, the news flow between the EU and Turkey, are going to be followed. The conditions are never worse. EU stated that Turkey seems to have another path where there is no EU.
- Today, central bank announcements will be watched for TL markets. Turkey is giving the highest rate among emerging markets (%12). The two digits inflation problem and to courage the investors for TL, Turkish Central Bank might leave the rates as they are.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.