While the European Central Bank (ECB) did not change its interest rate decision at yesterday's monetary policy meeting, the tone of ECB President Christine Lagarde, who made statements after the decision, was evaluated as "hawk" by investors.
The Bank of England (BoE), on the other hand, increased interest rates by 25 basis points in yesterday's meeting, while the ECB's 40 and BoE's 100 basis points increase in the bond markets began to price until the end of the year.
Yesterday, with the profitability of the balance sheets announced in the USA falling below expectations, the selling trend in the New York stock market led by technology stocks deepened, while the situation reversed after the markets closed.
Profitability, which was above expectations in the balance sheets announced by companies such as Amazon and Snap, caused a significant change in investor perception in the futures markets, while Snap's rise in futures contracts reached 60 percent.
American e-commerce giant Amazon's revenue increased by 9 percent in the last quarter of last year to 137.4 billion dollars. The profit per share of the e-commerce giant, which was $ 14.09 in the fourth quarter of 2020, increased to $ 27.75 in the same period of last year.
The data in the employment report to be published today, on the other hand, is expected to be determinative on the direction of the markets, as it has a significant weight in the monetary policy decisions of the US Federal Reserve (Fed).
While the picture regarding monetary policies is starting to become clearer, it is noteworthy that the upward trend in oil prices has gained momentum. In the US, West Texas Intermediate (WTI) crude oil rose above $90 a barrel for the first time since 2014 as demand for petroleum products increased against limited supply. The barrel price of Brent oil is also trading at $91.1, the highest level since October 2014.
Yesterday, the S&P 500 index fell 2.44 percent, the Nasdaq index fell 3.74 percent and the Dow Jones index fell 1.45 percent in the New York stock market. In the US, index futures contracts are on the move with buyers on the new day.
It is seen that the volatility in asset prices has increased significantly after yesterday's central bank decisions in Europe.
With the ECB's faltering, the selling pressure in the bond markets of the countries in the region increased, while Germany's 10-year bond yield increased to 0.14 percent and France's 10-year bond yield to 0.55 percent, the highest level since March 2019.
Euro/dollar parity also carries the upward trend for the fifth day in a row and finds buyers at 1.1470, the highest level since 13 January.
The tension between Russia and Ukraine continues to be the main factor that erodes the risk appetite in the region.
Yesterday, DAX index lost 1.57 percent in Germany, FTSE 100 index lost 0.71 percent in England, CAC 40 index lost 1.54 percent in France and FTSE MIB 30 index lost 1.09 percent in Italy. European indices are positive in futures today.
In Asia, a positive trend is observed in line with the upward trend of the futures markets in the USA. While Hong Kong joined South Korea, which returned from the New Year holiday yesterday, the rise in the Hong Kong stock market, which was closed during the week, exceeded 3 percent.
Near the closing, the Nikkei 225 index in Japan gained 0.61 percent and the Kospi index in South Korea gained 1.38 percent.
While the domestic inflation data was the focus of the agenda yesterday, the Consumer Price Index (CPI) increased by 11.10 percent monthly and 48.69 percent annually in January. Economists participating in the expectations survey of AA Finans predicted that the CPI would increase by 10.09 percent monthly in January.
While the BIST 100 index depreciated by 2.21 percent and regressed to 1,957,690 points yesterday, the Dollar/TRY is trading at 13.57 at the opening of the interbank market, after increasing 0.7 percent to 13.5688 yesterday.
Analysts pointed out that the balance sheet disclosures of companies traded in Borsa Istanbul started to intensify and stated that stock-based volatility may increase in this period.
According to the financial results announced yesterday, Yapı Kredi's consolidated net profit in 2021 exceeded expectations with 10.5 billion liras.
Analysts stated that the real effective exchange rate in the country, factory orders abroad, non-farm employment, unemployment and average hourly earnings data in the employment report in the USA will be followed today. and said that 1,880 points are in the support position.
The data to be followed in the markets today are as follows:
10.00 Germany, factory orders for December
13.00 Euro Zone, December retail sales
14.30 Turkey, January real effective exchange rate
16.30 US, January employment report
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