In the opening session, the June futures contract was traded at 6,101.75, 0.5 percent above the previous session’s closing.
The index contract, which followed a selling course yesterday, closed the regular session at 6,074.00 points, 1.7 percent below its previous closing. The index contract rose to 6,094.25 points in the evening session.
Analysts stated that a positive course, albeit limited, was followed in the global stock markets after the US Federal Reserve (Fed) kept the policy rate unchanged at 5-5.25 percent yesterday, and today your eyes are on the monetary policy decisions of the European Central Bank (ECB). Said it was converted.
While it is considered certain that the ECB will increase the policy rate by 25 basis points today, according to the pricing in the money markets, potential clues about the future are in the focus of investors in the policy text and the statements of ECB President Lagarde.
In a statement after the meeting, Fed Chairman Jerome Powell stated that almost all Fed officials thought that some additional interest rate hikes this year would be appropriate to reduce inflation to 2 percent over time, and that they did not make a decision about the July meeting.
After these developments, the expectations regarding the Fed’s 25 basis points interest rate hike at the July meeting in the pricing in the money markets rose to 70 percent, while there is also a limited prediction that the Bank can complete the interest rate hike cycle at the level of 5.50-5.75 percent.
Analysts stated that today, in addition to the budget balance and housing sales index in the country, the ECB’s interest rate decision and Lagarde’s statements abroad, foreign trade balance in the Euro Area, capacity utilization rate in the USA and industrial production data will be followed. In terms of the index contract, he noted that the levels of 6,000 and 5,900 are in the support position, and 6,200 and 6,300 points are in the resistance position.