While a mixed course was observed in the global stock markets as inflation pressure and new types of coronavirus (Kovid-19) cases increased the uncertainties regarding monetary policies, the eyes were turned to the intense data agenda, especially the meeting minutes of the US Federal Reserve (Fed) and growth in the USA.
Although the strong course of inflation in the USA has led policy makers to take precautions, the risk perception continues to rise with the increasing number of cases and supply problems, especially in the Kovid-19 outbreak.
US President Joe Biden, who wants to find a solution to the increase in fuel prices in the USA, announced yesterday that fuel prices in the USA will decrease with the introduction of 50 million barrels of crude oil from the strategic oil reserve.
Noting that India, Japan, South Korea, the United Kingdom and China have also agreed to make available the oil in their reserves, Biden said, "This coordinated action will help us deal with the shortage of supply, thereby reducing prices." said.
Noting that the problems related to the Kovid-19 outbreak caused disruptions in the supply chain, Biden said that this situation caused "scarcity" concerns and contributed to price increases.
Despite Biden's statements, the price of Brent oil per barrel increased by 3.7 percent to $ 81.7 yesterday, while analysts reported that the plan had technical difficulties and did not meet expectations.
The busy data agenda draws attention in the USA, which will be on holiday from tomorrow due to Thanksgiving.
Analysts stated that inflationary effects will be observed in the data to be announced throughout the day, and that clues regarding monetary policy will be sought in the Fed minutes.
While the price of an ounce of gold continued the decline of Jerome Powell's re-candidacy to the Fed Chairman yesterday, receding to $1,790 levels, the US 10-year bond yield increased to 1.64%, maintaining its upward trend due to inflation concerns.
The dollar index continues to hover at 96.6, the highest level in the last 16 months.
Yesterday, the S&P 500 index gained 0.17 percent and the Dow Jones index gained 0.55 percent in the New York stock market, while the Nasdaq index fell 0.50 percent. Today, it is seen that the selling trend is dominant in index futures contracts.
While the Kovid-19 epidemic in Europe continues to be at the center of the agenda, the uncertainty after the increasing number of cases causes selling pressure in the stock markets.
Yesterday, DAX 30 index decreased by 1.11 percent in Germany, CAC 40 index decreased by 0.85 percent in France and FTSE MIB 30 index decreased by 1.62 percent in Italy, while FTSE 100 index increased by 0.15 percent in England.
The euro/dollar pair is currently trading at 1.1244, just above the lowest level since July 2020.
In Asia, the Central Bank of New Zealand increased the policy rate by 25 basis points to 0.75 percent today, while the bank's monetary policy stance remained hawkish.
Close to the close, the Shanghai composite index in China gained 0.4 percent and the Hang Seng index in Hong Kong gained 0.6 percent, while the Kospi index in South Korea decreased by 0.20 percent. In Japan, which was on a public holiday yesterday, the Nikkei 225 index depreciated by 1.5 percent, although the manufacturing industry Purchasing Managers Index, announced today, rose from 53.2 to 54.2.
Analysts stated that today, the Fed's meeting minutes will be followed, as well as the intense data agenda, mainly capacity utilization and real sector confidence index in the country, growth in the USA and durable goods orders abroad.
Stating that the developments regarding the Kovid-19 outbreak continue to be at the center of the agenda, analysts said that 1,800 points are in the position of resistance and 1,720 points are in the support position in the BIST 100 index from a technical point of view.
The data to be followed in the markets today are as follows:
10.00 Turkey, November capacity utilization and real sector confidence indices
10.00 Turkey, November sectoral confidence indices
12.00 Germany, November Ifo business climate confidence index
16.30 US, weekly jobless claims
16.30 US, Q3 Gross Domestic Product (GDP)
16.30 US durable goods orders for October
18.00 US, October personal income and expenses
18.00 US, November University of Michigan consumer confidence index
18.00 US, new home sales for October
22.00 US, Fed's meeting minutes
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