The June futures contract was traded at 5,442.50 in the opening session, 0.3 percent above the previous normal session closing.
The index contract, which followed a selling course yesterday, closed the regular session at 5,428.75 points, 0.9 percent below its previous closing. The index contract partially compensated for its losses in the evening session and rose to 5,450.00 points.
Analysts stated that global stock markets followed a negative course before the US inflation data to be announced today, and said that the news flow regarding the ongoing debt crisis continues to remain in the focus of investors.
Stating that the Consumer Price Index (CPI) data to be announced in the USA today may affect the expectations regarding the decisions to be taken by the US Federal Reserve (Fed) at the June meeting, analysts stated that the possibility of a 25 basis point increase in interest rates in money markets continues to gain strength. Accordingly, the projections for the Fed to raise interest rates by 25 basis points next month rose to 25 percent.
While the verbal guidance of Fed members and macroeconomic data exceeding expectations were influential in this development, New York Fed President John Williams said yesterday that he expects inflation to fall to around 3.25 percent this year before returning to the bank’s long-term target of 2 percent in the next 2 years. .
Analysts stated that today, industrial production and unemployment rate in the country and inflation data in the USA abroad will be followed, and noted that, technically, the 5.500 and 5.550 levels are resistance and 5.400 and 5.350 points are support in the index contract.