While the macroeconomic data released in the US during the week continue to highlight the possibility of a soft landing in the country’s economy, it is estimated that the ongoing balance sheet season in the country may increase the volatility based on shares and sectors.

After the Consumer Price Index (CPI) in the country remained below the market expectations with an increase of 0.2 percent on a monthly basis and 3 percent on an annual basis in June, the Producer Price Index (PPI) was below the projections with an increase of 0.1 percent on a monthly and annual basis in the same period. took place.

Producer inflation in the country has fallen to the lowest level since 2020 on an annual basis.

Analysts said the data on producer prices provided further evidence that inflation in the US was falling and raised expectations that the US Federal Reserve (Fed) will soon end its “hawk” policies.

The statements of Fed officials are also being followed. San Francisco Fed President Mary Daly stated that interest rate hikes will be necessary to reduce high inflation in the country, adding, “It is too early to say that we have won a victory over inflation.” made its assessment. Daly has previously expressed his belief that two more rate hikes will be needed this year.

Known as one of the most “hawkish” Fed members, St. Louis Fed President James Bullard will step down next month. In a statement from the bank, St. Louis Fed’s first vice president and chief operating officer, Kathleen O’Neill Paese, has reportedly assumed the roles of interim president and CEO with immediate effect.

While there were important developments on the crypto money markets side yesterday, the “securities” lawsuit filed for XRP in the USA was concluded in favor of Ripple. After the decision, XRP gained about 70 percent, while Bitcoin made a premium of close to 4 percent.

With these developments, purchases in the bond markets came to the fore yesterday, while the 10-year bond yields of the USA carried the downward trend for the fourth trading day in a row and fell to 3.76 percent.

The ounce price of gold, which is currently at $ 1,961 with an increase of 0.1 percent, carried the upward trend for the 4th consecutive trading day.

The dollar index, which carried the downward trend for the 7th consecutive trading day, fell below 100 and fell to its lowest level since April 14, 2022.

The barrel price of Brent oil rose to its highest level since April 26 with $81.5, amid fears that supply would fall short of demand and recession concerns in the US diminished. The barrel price of Brent oil is currently at $81.2, 0.3 percent below the previous close.

Yesterday, the S&P 500 index rose 0.85 percent, the Nasdaq index rose 1.58 percent and the Dow Jones index rose 0.14 percent in the New York stock market. Index futures contracts in the USA started the new day with a mixed course.


Europe

While a positive trend emerged in Europe yesterday, the European Central Bank’s (ECB) June monetary policy meeting summary indicated that interest rate hikes would continue. In the summary, it was stated that the Bank may consider increasing the interest rates after the July meeting if necessary, and it was noted that data-oriented decisions will be taken in the future as well.

The persistence of the inflation pressure in Europe compared to the USA and the prominent “hawk” tones in the summary of the ECB June monetary policy meeting brought the euro/dollar parity to the highest level since 28 February 2022 with 1.1250.

Yesterday, FTSE 100 index gained 0.32 percent in England, DAX 40 index gained 0.74 percent in Germany, CAC 40 index gained 0.50 percent in France and MIB 30 index gained 0.78 percent in Italy. Index futures contracts in Europe started the new day with a mixed course.

After the slowdown in inflation in the USA, the increased risk appetite carried over to the Asian stock markets, while the Kospi index in South Korea led the rise in the region.


Asia

In Asia, news flows that the Chinese government will support different areas of the economy continue to be in the focus of investors.

Michele Bullock, who serves as Vice-President of the Reserve Bank of Australia, has been replaced by Philip Lowe.

On the other hand, according to the data released today in Japan, industrial production fell by 2.2 percent month-on-month in May, below the expectations, while the capacity utilization rate fell by 6.3 percent in the same period, far from the forecasts.

Near the closing, the Nikkei 225 index rose 0.1 percent in Japan, the Shanghai composite index rose 0.3 percent in China, the Kospi index in South Korea rose 1.2 percent, and the Hang Seng index in Hong Kong rose 0.3 percent.


Domestic markets

BIST 100 index in Borsa Istanbul, which followed a buyerful course in the domestic market yesterday, completed the day at 6,368.35 points with an increase of 0.41%, while achieving the highest daily close of all time, it also brought the highest level it saw to 6,436.83 points.

After closing at 26.0392 with a decrease of 0.4 percent yesterday, the Dollar/TRY is trading at 26.1030, 0.3 percent above the previous closing at the opening of the interbank market today.

On the other hand, yesterday, Capital Markets Board (CMB), Kaleseramik, Çanakkale Kalebodur Seramik Industry from 25 liras per share, Atakey Potato Gıda Sanayi ve Ticaret from 39.50 liras per share, Fuzul Gayrimenkul Yatırım Ortaklığı from 8.90 liras per share. approved its initial public offering.

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