Markets will follow these developments!

In global markets, while developments regarding the economic support package planned to be implemented in the USA remain at the focus of the agenda, a positive course is observed in Asian stock markets at the opening of the new week.

This week, the US $ 1.9 trillion economic support package, the G7 leaders summit to be held online on February 19, and the macroeconomic data to be announced will determine the direction of the global markets.

While the slowdown in the rate of increase in cases in the new type of coronavirus (Kovid-19) epidemic and optimism regarding the economic support package of the USA supported the share markets last week, the rising trend in the bond interest rates, despite the fact that inflation data, especially the USA and China, remained below the estimates.


US 10-year bond yields reached the highest level since March 2020 with 1.20 percent. The ounce price of gold followed a fluctuating course in the range of $ 1,800-1,850 last week, while oil prices continued to rise above $ 63.

According to the data released on Friday in the USA, the consumer confidence index of the University of Michigan dropped to 76.2 in February, the lowest level in 6 months, but the New York stock market followed a positive course.

Dow Jones index gained 0.09 percent, S&P 500 index 0.47 percent and Nasdaq index rose 0.50 percent, breaking the closing records. In the USA, where the minutes of the US Federal Reserve (Fed) meeting to be published on Wednesday this week will be followed, the markets will be closed today due to a public holiday.

On the European side, the intense news and data agenda this week will determine investors’ decisions. The fact that former European Central Bank (ECB) President Mario Draghi took office in Italy by taking an oath with his cabinet continued to positively affect the markets, while the euro / dollar parity gained 0.6 percent last week to 1.2119.

On Friday, the DAX index rose 0.06 percent in Germany, the FTSE 100 index rose 0.94 percent in the UK, and the CAC 40 index in France rose 0.60 percent.

Today, Asian stock markets are following buyers after the growth data announced in Japan exceeded expectations. In Japan, the 4th quarter Gross Domestic Product increased by 3 percent compared to the previous quarter and by 12.7 percent annually, exceeding the estimates. After the data, the Nikkei 225 index gained 1.8 percent in Japan and the Kospi index gained 1.5 percent in South Korea. In China and Hong Kong, no transactions were made in the markets due to the ongoing public holidays.

Domestic BIST 100 index, which lost 0.46 percent on Friday, closed at 1.538.44 points with an increase of 0.74 percent on a weekly basis. The dollar / TL, which decreased to 7.0380 with a decrease of 0.2 percent last week, is traded at the level of 7.0220 today at the opening of the interbank market.

Analysts stated that retains its place in the focus of investors about the developments related to the economic stimulus package in the United States this week, the Central Bank of Turkey in Turkey Monetary Policy Committee meeting and to be published on Friday, after closing of the markets followed the expected international credit rating agency Fitch Ratings on Turkey’s ratings said it would be.

On the agenda of foreign markets, analysts stated that the G7 leaders summit, which will start on Friday, the meeting minutes of the Fed and ECB on Wednesday, and the manufacturing industry Purchasing Managers Index to be announced on Friday, stand out, and the course of oil prices and bond interest should be monitored.

Analysts reported that in the BIST 100 index, the 1.570 level is in the resistance position and the 1.525 and 1.505 levels are in the support position.

The data to be followed in the markets today are as follows:

10:00 Turkey, January home sales
10:00 Turkey, agricultural products in January Producer Price Index
11:00 Turkey in January, the central government budget balance
13.00 Eurozone, December industrial production and foreign trade balance


Source: bigpara- GÜNDEM by

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