While the increasing inflation pressure around the world has led major central banks to monetary tightening on a global basis, verbal guidance regarding the policy change remains important.
After the European Central Bank (ECB) President Christine Lagarde's surprisingly changed her policy stance last week, the statements she made yesterday relatively removed the uncertainties.
Lagarde, who did not eliminate the possibility of an interest rate hike, however stated that the asset purchases must be terminated before the rate hike can begin.
Lagarde noted that if there is an interest rate increase, it will be gradual, and that communication will be provided in advance as necessary.
While it was seen that the selling pressure increased with Lagarde's speech in the European bond markets, Germany's 10-year bond yield continued to rise to 0.22 percent.
While the US 10-year bond yield rose to 1.95%, the uneasiness regarding the inflation data to be announced on Thursday in the USA is effective in the pricing in question.
The ongoing tension between Russia and Ukraine continues to be another factor that increases the risk perception in pricing in the markets.
As the diplomatic traffic on the subject accelerated, German Chancellor Olaf Scholz and US President Joe Biden met in Washington yesterday, while Russian President Vladimir Putin and French President Emmanuel Macron met in Moscow.
Although it was emphasized in the statements made after the talks that the solution to the Ukraine crisis should be political, it is noteworthy that the tension regarding the issue is still high.
Yesterday, the S&P 500 index depreciated by 0.37 percent and the Nasdaq index by 0.58 percent, with the increasing selling pressure in the New York stock market close to the closing, while the Dow Jones index closed the day with a flat course. Index futures contracts in the USA are flat on the new day.
While the verbal guidance of the Committee members increased after the hawking of the ECB in Europe, the speeches of two ECB officials became the focus of investors today.
On the other hand, the Polish Central Bank is expected to raise the policy rate by 50 basis points to 2.75 percent at its meeting today.
The euro/dollar parity, after ending the uptrend for six days in a row, is still in a downtrend today, and is currently finding buyers at 1.1420.
Yesterday, the DAX index in Germany increased by 0.71 percent, the FTSE 100 index in the UK by 0.76 percent and the CAC 40 index in France by 0.83 percent, while the FTSE MIB 30 index in Italy depreciated by 1.03 percent. European indices are also mixed in futures today.
In Asia, low risk appetite in parallel with the increasing selling pressure in the US markets near the end of the year draws attention, while the increasing tension between China and the USA seems to play a leading role in this situation.
The statements that China has not fulfilled its obligations arising from the trade agreements signed during the period of former US President Donald Trump strengthen the concerns that the tension between the two countries may increase.
While the USA's additional permission annotation for imports from some Chinese companies also supports the risk perception, it is seen that the selling pressure in China's bond market has increased.
While Japan's 10-year bond yield is 0.21%, approaching the upper limit of the Bank of Japan (BoJ) 0.25%, revealing the possibility of intervention by the BoJ, Australia's 10-year bond yield is 2.13 percent. It rose to its highest level since March 2020.
According to the macroeconomic data released in the region, the balance of payments in Japan fell short of expectations with a deficit of 370.8 billion yen in December.
Close to the closing, Nikkei 225 index gained 0.20 percent in Japan, Shanghai composite index fell 0.44 percent in China, Kospi index decreased by 0.25 percent in South Korea and Hang Seng index decreased 1.56 percent in Hong Kong. .
Domestically, the BIST 100 index, which rose yesterday, led by industry and transportation shares, closed the day at 1,997.58 points with a value gain of 2.77 percent.
Dollar/TL is trading at 13,6150 at the opening of the interbank market today, after closing at 13.5915 with an increase of 0.2 percent yesterday.
While share and sector-based divergences continue due to company balance sheets that continue to be announced, today's news flow regarding the contacts of Treasury and Finance Minister Nureddin Nebati in London is also in the focus of investors.
While the data agenda seems calm at home today, foreign trade data in the USA will be followed in addition to the verbal guidance of the ECB officials abroad.
Analysts stated that developments related to Ukraine may have an impact on asset prices, and said that technically, 2.030 level in the BIST 100 index is in the position of resistance and 1.980 points in the position of support.
The data to be followed in the markets today are as follows:
16.30 USA, December foreign trade balance
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