Global markets remain positive

While global markets are positive today, domestic ones

Retail sales rose 3 percent on the month in January, above expectations, following data indicating that the slowdown in US inflation eased in January.

Following data that pointed to a resilient economy that could give the US Federal Reserve (Fed) room to raise interest rates, although the initial reaction in stocks was lower, indices began to rise with the reaction purchases that approached the closing.

US EXCHANGES RISE

With these developments, the Dow Jones Index gained 0.11 percent, the S&P 500 Index gained 0.28 percent and the Nasdaq Index gained 0.92 percent on the New York Stock Market yesterday.

The dollar index is at 103.7 today, after closing at 103.9 up 0.7 percent yesterday. The US 10-year bond yield also stabilized at 3.80 percent after testing 3.82 percent. US index futures contracts started the new day with buyers.

EUROPEAN EXCHANGES ALSO WATCHED BUYERS

According to data announced yesterday by the European side, annual inflation in the United Kingdom continued to slow for the third consecutive month and reached 10.1 percent in January. While industrial production in the euro zone fell 1.1 percent monthly and 1.7 percent annually in December, the foreign trade deficit exceeded expectations at 8.8 billion euros.

Following the inflation data, which eased concerns that the Bank of England could raise interest rates above expectations, the UK’s FTSE 100 index yesterday topped 8,000 points for the first time in its history.

With these developments, the DAX 40 index rose 0.82 percent in Germany, the FTSE 100 index rose 0.55 percent in the United Kingdom and the CAC 40 index rose 1.21 percent in France. While the euro/dollar, which dipped to 1.0660 yesterday, is just above 1.07 today, index futures contracts in Europe started the day with a new buyer.

ASIAN SIDE SEEN POSITIVELY

On the Asian side, after the lifting of the strict Covid-19 measures by China, the strengthening of the demand for credit and the increase in air transport caused the strengthening of optimistic expectations for the economy.

On the Japanese side, the news flow about Kazuo Ueda, who was nominated for the head of the country’s central bank, remains at the center of the agenda. While Ueda is expected to deliver a speech in the lower house of parliament on February 24, the presidential candidate’s signals regarding monetary policy stance are critical.

With these developments, it was seen that the new day started positively in the Asian stock markets, while the Shanghai Composite Index in China increased 0.1 percent, the Nikkei 225 index in Japan increased 0.8 percent and the index Hong Kong’s Hang Seng rose by 1.6 percent.

BORSA ISTANBUL RISES HARD

The BIST 100 index closed the day at 4,950.47 points with a gain of 9.88 percent, with the effect of the measures taken, especially support for the repurchase of shares, in the Borsa Istanbul, which opened for trading yesterday after a week off.

Dollar/TL is trading at 18.8540 at the open of the interbank market after closing at 18.8503 with an increase of 0.06 percent compared to the previous closing level yesterday.

On the other hand, the US-listed iShares MSCI Turkey exchange-traded fund (ETF) gained more than 9 percent yesterday after its rise of 8 percent the day before.

Analysts noted that expectations and comments on the central bank’s monetary policies vary with data releases, saying the fluctuating course of global stock markets may remain on the agenda for a while.

Expressing that the interest in TL’s assets is expected to continue with the effect of the measures taken in the country, the analysts noted that they will continue to follow the flow of news about the earthquakes in Kahramanmaraş.

Analysts pointed out that today’s data agenda highlights the country’s weekly monetary and banking statistics, the Producer Price Index (PPI), housing starts and construction permits in the US. (BRITISH AUTOMOBILE CLUB)