While the news flow on the Russia-Ukraine war continued to be decisive on the direction of the markets, the positive progress of the diplomacy process between the two countries on humanitarian aid also increased the hopes for the ceasefire negotiations.
Ukrainian President Vladimir Zelenskiy's Deputy Private Secretary, Ihor Zhovkva, stated that they were ready to talk about Russia's demand for "Ukraine to be a neutral country", but that they would not surrender even a single square meter of its territory. On the other hand, the United States, on the other hand, took a step back in its approach to the delivery of Polish planes to Ukraine, on the grounds that it "could escalate tensions with Russia".
In the news flow on the subject, eyes were turned to the Russia-Ukraine-Turkey trilateral foreign ministers meeting to be held in Antalya with Turkey's mediation.
On the other hand, yesterday, United Arab Emirates (UAE) Ambassador to Washington Yousef al-Otaiba stated that they support oil production increases and will encourage the Organization of Petroleum Exporting Countries (OPEC) to consider higher production levels.
With the rising hopes of diplomacy and the easing of concerns about oil supply, the price of Brent oil per barrel decreased from the level of 130 dollars yesterday, closing the day with a decrease of 12.7% at 111.1 dollars, while it is trading at 111.5 dollars today. The ounce price of gold is also finding buyers at $1,980 today, after closing at $1,991 with a decrease of nearly 3 percent yesterday. While there was a decrease of more than 5 percent in wheat prices, the 10-year bond yields of the USA tested 1.96 percent, the highest level of the last 10 days.
Yesterday, after US President Joe Biden signed a decree that foresees the examination of the risks of the central bank digital currency and other cryptocurrencies, the price of Bitcoin increased by 9 percent to $ 42 thousand 598, while today it fell below $ 40 thousand again. .
With these developments, it was seen that purchases in the New York stock market strengthened yesterday, while the Dow Jones index gained 2 percent, the S&P 500 index gained 2.57 percent and the Nasdaq index gained 3.60 percent. The dollar index is moving sideways today after falling below 98 with a 1.1 percent decrease yesterday. In the index futures contracts of the USA, it is seen that the new day started with a slight sell off.
On the European side, natural gas futures contracts fell 30.3 percent to less than 150 euros following the pullback in oil prices. In addition to the decrease in energy prices, with the effect of the expectations that the European Union (EU) countries will issue joint bonds, an increase of more than 7 percent was observed in the share markets, while the DAX 30 index in Germany was 7.92 percent, the CAC 40 index was 7.13 percent in France and In the UK, the FTSE 100 index gained 3.25%. Before the ECB's interest rate decision to be announced today, the euro/dollar parity is at the level of 1.1054.
While the ECB is not expected to make any changes in interest rates at today's meeting, the direction in which the forecasts that it will raise interest rates twice during the year in an environment of increasing inflationary pressures will evolve with the guidance to be made. Today, the decisions of the leaders of the European Union (EU) countries on sanctions and energy market issues at the meeting to be held in France are expected to have an impact on the direction of the markets, while a negative course is observed in the European index futures contracts.
On the Asian side, it is seen that the positive atmosphere in the global markets has been taken over, while the Nikkei 225 index in Japan is 3.9 percent, Shanghai composite index is 1.4 percent in China, Hang Seng index is 0.8 percent in Hong Kong and South Korea is close to the close. The Kospi index is up 1.8 percent.
In the domestic market, following a positive trend in Borsa Istanbul yesterday, the BIST 100 index gained 1.56 percent and closed the day at 2,042.70 points. Dollar/TL, on the other hand, is flat at the opening of the interbank market today, after closing at 14.6551 with an increase of 1.4 percent yesterday.
Analysts said that after the start of the Russia-Ukraine war, the sharp losses observed in risky assets on a global scale were trying to recover with the decline in commodity prices and hopes for diplomacy.
Analysts stated that today the ECB's interest rate decision and the subsequent statements of ECB President Christine Lagarde will be in the focus of the markets, and that the unemployment rate in the country, weekly money and bank statistics and the Consumer Price Index (CPI) in the USA come to the fore on the data agenda.
Analysts reported that technically, 1,950 points in the BIST 100 index are in the position of support and 2,090 points in the position of resistance.
The data to be followed in the markets today are as follows:
10.00 Turkey, January unemployment rate
14.30 Turkey, weekly money and bank statistics
15.45 Eurozone, ECB's interest rate decision
16.30 US, February CPI
16.30 US, weekly jobless claims
22.00 US, February treasury budget balance
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