Fed Chairman Powell's hints on the future of monetary policy are expected at the Jackson Hole Economic Policy Symposium tomorrow, records in the New York stock market continued yesterday.
Although the global risk appetite seen after the US Food and Drug Administration (FDA) approved the full use of the new type of coronavirus (Kovid-19) vaccine by Pfizer and BioNTech for those aged 16 and over supports the stock markets, it is seen that country and sector-based divergences have also increased. .
On the other hand, while the discussions on when the Fed will start to reduce its asset purchases, the ongoing global inflation threat caused the Central Bank of South Korea to increase interest rates after Russia, Brazil, Czechia and Hungary.
South Korea's Central Bank, at its meeting today, increased the policy rate by 25 basis points to 0.75 percent in line with the expectations.
Analysts stated that the second quarter growth data to be announced in the USA today, before Powell's speech tomorrow, is in the focus of investors, and that a fluctuating course can be observed in the stock markets.
According to data released yesterday in the US, durable goods orders outperformed expectations, even though they decreased by 0.1 percent month on month in July.
With these developments, the Dow Jones index gained 0.11 percent, the S&P 500 index gained 0.22 percent and the Nasdaq index gained 0.15 percent. Thus, the S&P 500 and Nasdaq indices continued their closing records.
Although there were mostly increases in European stock markets, the DAX 30 index in Germany diverged negatively.
According to the data released yesterday, the Ifo Business Environment Confidence Index, which was 100.7 points in Germany last month, dropped to 99.4 points in August, while German companies were reported to be more pessimistic due to the increase in Kovid-19 cases and supply bottlenecks. In addition, Germany's exports to China decreased by 3.9 percent in July compared to the same month of the previous year and decreased to 8.4 billion euros. Thus, Germany's exports to China, its largest trading partner, decreased for the first time since August 2020.
After the data, the DAX 30 index depreciated by 0.28 percent in Germany, the FTSE 100 index increased by 0.34 percent in the UK and the CAC 40 index increased by 0.18 percent in France.
Today, the Kospi index is moving in a downward trend after the South Korean Central Bank's interest rate decision. The Kospi index fell 0.6 percent in the following minutes, while the South Korean won also lost 0.4 percent against the dollar.
While the Nikkei 225 index was flat in Japan near the closing, the Shanghai composite index in China fell by 0.6 percent.
Domestically, the BIST 100 index, which tested 1,470 points, which analysts described as resistance yesterday, went down with the sales that increased its effect at this level and closed the day at 1,453.30, with a depreciation of 0.86 percent compared to the previous close.
Continuing the downward trend yesterday and closing at 8.3796 with a decrease of 0.4 percent, the dollar/TL is traded at 8.3840 at the opening of the interbank market today.
Stating that weekly money and bank statistics in the country, growth and weekly unemployment applications in the USA abroad will be followed today, analysts noted that technically, 1,440 points stood out as support and 1,470 points as resistance in the BIST 100 index.
The data to be followed in the markets today are as follows:
14.30 Eurozone, ECB meeting minutes
14.30 Turkey, weekly money and bank statistics
15.30 US, Q2 Gross Domestic Product
15.30 US, weekly jobless claims
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