While the global stock markets continued their buying-heavy course yesterday, the New York stock market followed a horizontal course.
Despite Biden's approval of the nearly $1 trillion infrastructure package that constitutes the first phase of his economic plan in the US, continued inflation pressures are causing sales in bond markets to increase.
The 10-year bond yield of the USA reached its highest level since October 27, with 1.6290 percent yesterday, and the price of gold at $ 1,870 per ounce since June 14.
Analysts noted that inflation pressure caused a change in investor behavior and stated that many investors started to resort to investment instruments that could protect themselves from inflation.
Noting that the retail sales data to be announced today contains clues about consumer behavior, analysts reported that verbal guidance by the US Federal Reserve (Fed) officials may also increase the volatility in asset prices.
The lack of an explanation as to whether the US will touch the oil in its reserves supported oil prices. The barrel price of Brent oil is trading at $82.2 with an increase of 1 percent in the new day, after a 4-day downward trend, while the dollar index is at the level of 95.5.
Yesterday, the indices in the New York stock market were flat, while the index futures contracts seem to be maintaining a calm course today.
On the European side, the agenda began to be determined by political disagreements.
Ursula von der Leyen, President of the European Union (EU) Commission, announced that the EU will expand its sanctions against Belarus, including airline companies, due to the migrant crisis with Poland.
Kremlin spokesman Dmitriy Peskov said that Russia can help as a "negotiator" regarding the migrant crisis on the Belarus-Polish border.
British Prime Minister Boris Johnson stated that they want to continue negotiations with the European Union (EU) in order to solve the problems regarding Northern Ireland, but it would be "completely legitimate" for them to suspend the Northern Ireland Protocol, which caused controversy.
On the other hand, European Central Bank (ECB) President Christine Lagarde stated that inflation may remain at high levels for a long time if the increase in energy prices or supply restrictions continue.
Concerns about the new type of coronavirus (Kovid-19) epidemic in the region also continue to increase.
Yesterday, FTSE 100 index gained 0.05 percent in England, DAX 30 index gained 0.34 percent in Germany, FTSE MIB 30 index gained 0.49 percent in Italy and CAC 40 index gained 0.52 percent in France.
The euro/dollar parity is currently at 1.1382, an increase of 0.2 percent compared to the previous close, after falling by 0.7 percent to 1.1361, the lowest level since July 2020.
While measures are being increased in the Kovid-19 epidemic in China, the problems in the real estate sector continue to exist. Although the companies traded in the equity markets partially eased after China announced that it could loosen credit channels for the real estate sector, the issue has not been completely resolved. Finally, the allegations that Kaisa company could not pay its bonds continue to increase the risk perception.
On the other hand, the meeting between China and the USA at the level of heads of state is effective in keeping the risk appetite high.
With these developments, the Nikkei 225 index gained 0.05 percent in Japan and the Hang Seng index gained 1.3 percent in Hong Kong, while the Shanghai composite index in China and the Kospi index in South Korea rose by 0.1 percent and 0.2 percent in South Korea. lost value.
After completing the day at 10.0639 with an increase of 0.80 percent in the international market yesterday, the Dollar/TL peaked at 10.0937 at the opening of the interbank market today.
Analysts stated that today, the housing price index in the country, unemployment in the UK, growth in the Euro Area and retail sales, industrial production and capacity utilization data in the USA will be followed.
Stating that the verbal guidance of the Fed officials and the bond markets with increased volatility will also be in the focus of investors, analysts stated that technically, 1.720 and 1.740 levels in the BIST 100 index are resistance and 1.660 points are support.
The data to be followed in the markets today are as follows:
10:00 England, unemployment in September
13.00 Euro Area, 3rd Quarter Gross Domestic Product
14.00 Turkey, September housing price index
16.30 US, October retail sales
17.15 US, October industrial production
17.15 US, October capacity utilization
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