Macroeconomic data and company financial results affect asset prices before the US Federal Reserve’s (Fed) monetary policy decisions to be taken next week.

While it is considered certain that the Fed will increase the policy rate by 25 basis points on July 26, the uncertainty regarding the steps to be taken by the Bank after this meeting continues.

Analysts said that after the decline in the number of first-time jobless applicants yesterday, question marks increased more, and the unexpected decline in weekly jobless claims in the USA pointed to a stronger employment report.

On the other hand, analysts stated that the lagged effect of monetary policy decisions is among the main question marks among investors.

Analysts emphasized that the signals to be taken from the decision text of the meeting next week and the statements of Fed Chairman Jerome Powell will have an impact on the direction of the markets.

On the other hand, the shares of Tesla, whose gross profit margin decreased to 18.2 percent in the second quarter of the year, decreased by close to 10 percent, while the shares of Netflix, whose income was below the expectations of analysts, fell by more than 8 percent.

The shares of the US pharmaceutical company Johnson & Johnson, which reported earnings above expectations in its balance sheet, increased by more than 6 percent.

Also yesterday, the Fed announced the launch of its new system for instant payments, “FedNow”.

While the number of first-time unemployment claims applicants in the USA fell to 228 thousand in the week ending July 15, it fell to the lowest level in two months, while second-hand home sales in the country decreased by 3.3 percent monthly in June to a 5-month low.

In the US, Philadelphia Fed Manufacturing Index came in at minus 13.5 in July, below expectations, showing that the contraction in the sector continues.

The ounce price of gold, which finished the day at $1,970 with a decrease of 0.4 percent yesterday, is currently moving horizontally.

The barrel price of Brent oil, on the other hand, is 0.8 percent above the previous close, at $ 80.2.

Yesterday, the S&P 500 in the New York stock exchange lost 0.68 percent, the Nasdaq index depreciated by 2.05 percent, while the Dow Jones index closed with an increase of 0.47 percent. Index futures contracts in the USA started the new day with a flat course.


Europe

While a positive trend is evident in the European stock markets, the focus of the markets is the interest rate decision to be announced by the European Central Bank (ECB) next week.

While it is considered certain that the ECB will increase interest rates by 25 basis points at this month’s meeting, the Bank is expected to increase interest rates by 50 basis points in total until the end of the year.

Developments regarding the Grain Corridor Agreement continue to be at the center of the agenda in Europe.

According to the data released yesterday, the Producer Price Index (PPI) in Germany decreased by 0.3 percent monthly in June and increased by 0.1 percent annually. Consumer confidence index in the Eurozone, on the other hand, was minus 15.1.

DAX 40 index in Germany finished the day with 0.59 percent, CAC 40 index in France 0.79 percent, FTSE 100 index in England 0.76 percent and MIB 30 index in Italy with 0.36 percent gain.


Asia

In Asian stock markets, a mixed course is followed after the inflation data announced in Japan.

Last month, annual inflation in Japan was 3.3 percent, above expectations.

Analysts said that inflation is above the Bank of Japan’s (BoJ) 2 percent target, adding that the bank is not expected to change its monetary policy, but speculation that it may make policy adjustments at its meeting next week may increase.

Close to the closing, Nikkei 225 index in Japan lost 0.4 percent and Shanghai composite index in China lost 0.2 percent, while Kospi index in South Korea gained 0.2 percent and Hang Seng index in Hong Kong gained 0.5 percent.


Domestic markets

Moving in an upward trend in the domestic market yesterday, the BIST 100 index in Borsa Istanbul gained 1.69 percent, closing the day at 6,682.11 points, the highest daily closing of all time, and brought its highest level record to 6,700.36 points.

Dollar/TL is traded at 26,8450 at the opening of the interbank market today, after closing at 26.7626 with a decrease of 0.1 percent yesterday.

The Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee (PPK) increased the one-week repo auction rate, which is the policy rate, by 250 basis points to 17.50 percent yesterday.

In the announcement of the CBRT, it was stated that “From foreign direct investments, significant improvement in external financing conditions, the ongoing increase in reserves and the balancing in the current account account with the support of tourism revenues will contribute strongly to price stability.”

The CBRT also increased the daily limit of banks for rediscount credits of exporters by 5 times, while requiring 15 percent required reserves to be set for exchange-protected accounts.

Also yesterday, the Capital Markets Board (CMB) approved the initial public offering of Asce Gayrimenkul Yatırım Ortaklığı at TL 12.60 per share.

Analysts stated that the data agenda will be calm both at home and abroad today, and noted that technically, 6,700 and 6,800 levels in the BIST 100 index are resistance and 6,600 and 6,500 points are support.

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