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Weekly activity in the markets remains effective in the new week.
Although the dollar / TL, which renewed its historical maximum, surpassed 7.83 on the first trading day of the new week, it did not remain at these levels. The dollar is at the 7.78 level.
Last week, the Central Bank of Turkey (TCMB), contrary to market expectations, increasing the policy rate by 200 basis points to 10.25 percent and the Banking Regulation and Supervision Agency (BDDK), which was lowered to the 7.5112 level after banks decided to increase their derivatives transaction limits within the scope of normalization steps. dollar / TLit closed Friday at 7.6648, an increase of 0.5 percent compared to the previous close.
The Euro / TL also renewed its all-time high during the day and rose to the 9.15 band. The rate is trading from 9.07 in the following minutes.
British pound United Kingdom with the European Union until October Brexi You are gaining value in the hope that you can secure a trade deal. The pound, which was at its highest level in 19 days against the euro, gained 0.7 percent against the US dollar. During the day The Sterling / TL, which rises to the 10.10 TL band, is at 10.01 right now.
THE EYES ARE YES
On the economic agenda, eyes turned to the New Economy Program (YEP) and the central government budget for 2021.
The YEP, which is the economy’s roadmap, is expected to be announced by Finance Minister Berat Albayrak this week.
THE DATA AGENDA IS INTENSIVE IN OCTOBER
The data calendar will also be busy in October. Export figures for September and inflation data will be announced in early October.
Unemployment figures will be announced on October 12, billing, retail sales and industrial production rates on October 13 and budget realization results for September on October 15. The consumer confidence index will be determined on October 22.
The Central Bank’s Monetary Policy Committee will meet on October 22 and announce its decision on the interest rate. Central Bank Governor Murat Uysal will also announce the latest Inflation Report of the year on October 28.
WHAT WILL THE MARKETS FOLLOW TODAY?
Analysts affirmed that today the data agenda is calm at the national level, and abroad, the speech of the president of the European Central Bank, Christine Lagarde, and the data of the Dallas Fed manufacturing index in the USA will be followed. USA
Stating that the latest decisions of the Central Bank and BRSA support the markets, analysts said that especially geopolitical developments reduce the appetite for risk, and the flow of news about the new type of corona virus vaccine (Covid- 19) remains at the center of the agenda.
BAZAR MARKET ECONOMICS: IS SPICE OUTDOOR RELIABLE?
