While the strengthening of the expectations that the banking crisis in the USA is over, increases the risk appetite, the projections regarding the monetary policy of the US Federal Reserve (Fed) for the next period remain uncertain.
According to the macroeconomic data announced in the country, the average interest rate for 30-year mortgages (housing loans) in the USA fell to the lowest level in 6 weeks with 6.45 percent last week.
Recalling that the housing market in the USA is one of the areas most affected by possible economic contractions and that it affects credit expansion throughout the country, analysts stated that the results desired by the Fed have not been observed in the housing market so far.
With these developments yesterday, the S&P 500 index gained 1.42 percent, the Dow Jones index by 1 percent and the Nasdaq index by 1.79 percent in the New York stock market. Index futures contracts in the USA started the new day with a mixed course.
While the upward trend in European stock markets is carried to the third day, the macroeconomic data to be announced in the region today is expected to have an impact on the direction of the markets.
Analysts stated that European Central Bank (ECB) President Christine Lagarde reminded that they will take data-based decisions in her statements after the last monetary policy meeting.
Analysts, who stated that the inflation data in Germany will be followed closely, noted that today the bank is priced in the money markets to increase interest rates by 25 basis points with a 70 percent probability at the next meeting.
Yesterday, the DAX 40 index rose 1.23% in Germany, the FTSE 100 index rose 1.07 percent in the UK, the MIB 30 index in Italy rose 1.56 percent and the CAC 40 index in France rose 1.39 percent. Index futures contracts in Europe started the new day with a rise.
While a mixed course stands out in Asian stock markets today, news flow regarding Alibaba Group continues to be influential on the direction of the markets.
The company’s senior manager Daniel Zhang said in a statement that Alibaba’s main business lines will be sold over time, which eroded the risk appetite.
While the Nikkei 225 index lost 0.5 percent in Japan near the closing, the Kospi index in South Korea rose 0.7 percent, the Shanghai composite index in China rose 0.6 percent and the Hang Seng index in Hong Kong rose 0.5 percent.
Domestically, the BIST 100 index in Borsa Istanbul, which was buying-heavy yesterday, finished the day at 4,943.18 points, 2.74 percent above the previous closing.
After closing at 19.1386 with an increase of 0.1 percent yesterday, the Dollar/TRY is trading at 19,1500 at the opening of the interbank market today.
Analysts today, mainly the economic confidence index and the meeting summary of the Central Bank of the Republic of Turkey (CBRT), the Consumer Price Index (CPI) in Germany and the 4th quarter Gross Domestic Product (GDP) in the USA, abroad. Stating that the intense data agenda will be followed, he noted that technically, 5,000 and 5.100 levels in the BIST 100 index are in the resistance position, and 4.850 and 4.750 points are in the support position.