Fed uncertainty continues in global markets

Global markets continue to seek direction with uncertainties regarding the monetary policies of central banks, especially the US Federal Reserve (Fed).

Macro data signals from around the world continue to complicate pricing.

THE FED CONTINUES UNCERTAINTY

While the intensifying data calendar from today is expected to have an impact on the direction of markets, investors are also closely watching statements from central bank officials.

Analysts noted that US housing market data will be followed today, noting that the fact that the market in question remained tepid despite the Fed’s steps was one of the factors that forced the Bank to hold “hawk”.

Analysts, drawing attention to the importance of the real estate market in the US economy, reported that due to the country’s credit system, rapid activity here affects people’s disposable income.

MONITORED US EXCHANGES WITH SELLER

While the Fed is forecast to raise the policy rate by 25 basis points with a 76 percent probability in pricing in money markets, uncertainties remain about the Bank’s final interest rate.

Yesterday, the S&P 500 index fell 0.29 percent, the Nasdaq index fell 0.75 percent and the Dow Jones index fell 0.03 percent on the New York Stock Exchange. US index futures contracts started the new day with a buy-weighted course.

EUROPEAN EXCHANGES RISE

Although yesterday a mixed course emerged in Europe, the statements of the officials of the European Central Bank (ECB) continue to be “hawkish”.

ECB member Martins Kazaks said the Bank should continue to raise interest rates despite the weakening economy.

Yesterday, the UK’s FTSE 100 Index and Germany’s DAX 40 Index fell 0.11%, while France’s CAC 40 Index rose 0.29% and Italy’s MIB 30 Index rose 0.12%. . Index futures contracts in Europe started the new day higher.

ASIAN EXCHANGES SEE MIXED

While a mixed course in Asia was highlighted today, the government’s announcement that it would continue to support the economy in China eroded risk perception.

In his remarks today, Chinese Premier Li Qiang said growth in the second quarter will be stronger than in the first quarter, noting that China will continue to work to support the economy and open up the Chinese market to the outside world.

While Japan’s Nikkei 225 index fell 0.6 percent and South Korea’s Kospi index 0.1 percent near the close, China’s Shanghai Composite Index rose 1.1 percent and the index Hong Kong’s Hang Seng rose 1.7 percent.

A RECORD IN BIST AND DOLLAR/TL

The BIST 100 index on Borsa Istanbul, which was packed with domestic market buying yesterday, ended the day at 5,732.86 points up 2.69 percent, while posting the highest daily close ever, brought his highest level record at 5,749.66 points.

The dollar/TL is trading at 26.01 at the opening of the interbank market today, after closing yesterday at 25.91 with an increase of 2.4 percent.

On the other hand, the markets will be open for mid-day trading as it is the day before today.

Analysts said that Building Permits, New Home Sales, Durable Goods Orders, Consumer Confidence Index and Richmond Fed Industrial Index data will be tracked in the US today and, technically, 5,850 and 6,000 levels on the BIST 100 index are resistance 5,700 and 5,000 He noted that 1,600 points are in the support position. (AA)