Markets will follow this data

While global markets follow a mixed course, domestic industrial production and current account balance data will be followed today.

While negotiations on the economic support package for the new type of coronavirus (Kovid-19) epidemic in the USA continue, the latest macroeconomic data and official statements increased expectations for further support.

President of the US House of Representatives Nancy Pelosi stated that she is waiting for the economic support package to be approved before the unemployment programs expire.

On the other hand, according to the data released yesterday, although the number of people who applied for unemployment benefits for the first time in the USA decreased to 793 thousand in the week ending February 6, it was above the market expectations and the levels before the epidemic.

With these developments, the Dow Jones index decreased by 0.02 percent, while the S&P 500 index rose by 0.17 percent and the Nasdaq index rose by 0.38 percent. Thus, S&P 500 and Nasdaq index continued to close records.

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A positive course was observed in the European stock markets yesterday, excluding France. With the effect of the financial results of the company, while the stock and sector-based movements became evident in the stock markets, it was noteworthy that the euro / dollar parity increased on the 5th day in a row. The pair gained 0.1 percent yesterday and closed the day at 1.2133.

Yesterday, while the FTSE 100 index gained 0.07 percent in England, the DAX 30 index gained 0.77 percent in Germany and the FTSE MIB 30 index gained 0.18 percent in Italy, the CAC 40 index in France fell 0.02 percent.

On the Asian side, while the official holiday in China, Hong Kong and South Korea continues today, the Nikkei 225 index lost 0.2 percent in the Japanese stock market, which was opened today after yesterday’s holiday.

The BIST 100 index, which tested over 1,550 points, which analysts described as resistance yesterday, as in the previous two trading days, started to decline with sales that increased its effect on bank stocks. BIST 100 index closed the day at 1,545.59 points with a 0.10 percent loss in value. The dollar / TL, which continued its downward trend yesterday, closed the day at 7.0255 with a 0.5 percent decrease compared to the previous close, after declining to the 7.00 limit. Dollar / TL is traded at the level of 7.0340 at the opening of the interbank market today.

Analysts stated that the developments regarding the economic support package in the USA remained in the focus of investors, and that the current account balance and industrial production index at home, growth in the UK and the consumer confidence index in the USA will be followed today.

The analysts stated that the 1.550-1.570 band is still in a critical resistance zone in the BIST 100 index technically, and the 1.525 and 1.505 levels stand out as support.

Economists who participated in AA Finans’s surveys expect the current account to have a deficit of $ 3 billion 600 million in December 2020. Economists expect the calendar adjusted industrial production index to increase by 8.8 percent in December 2020 compared to the same period of the previous year.

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

10:00 Turkey, December current account balance and the industrial production index
10.00 UK, December industrial production index
10.00 UK, 4th quarter Gross Domestic Product
18.00 USA, University of Michigan February consumer confidence index


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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