While the USA long-term bond yields are moving in an upward trend with the predictions that the Fed may increase interest rates next year, the speeches of the Fed officials will continue to search for clues about the future of monetary policy in the USA.
With the macroeconomic data announced yesterday, the expectations that the economy continued to expand after the new type of coronavirus (Kovid-19) epidemic and that normalization was close brought purchases in the stock markets.
Although there was a decline in the Purchasing Managers Index (PMI) data for the manufacturing industry and services sector announced around the world compared to the previous month, the data pointed out that the economies are still in the expansion zone.
With these developments, the S&P 500 index gained 1.21%, the Dow Jones index gained 1.48 percent and the Nasdaq index gained 1.04 percent. In the New York stock market, index futures contracts follow a horizontal course in the new day.
On the European side, while the Bank of England (BoE) left the policy rate at 0.1 percent yesterday, the Ifo indices to be announced in Germany are on the agenda of investors.
While European stock markets followed a buying-weighted course in line with the global stock markets excluding England, DAX index gained 0.88 percent in Germany, CAC 40 index gained 0.98 percent in France and MIB 30 index gained 1.41 percent in Italy. In the UK, the FTSE 100 index lost 0.07 percent. It is seen that index contracts in futures followed a mixed course in the new day.
Euro/dollar parity is trading at 1.1740 parallel to the previous close.
In Asia, the Evergrande crisis continues to have an impact on the direction of equity markets. The Chinese government warned Evergrande yesterday that it should not default in the payment of its bond debts, while warning local governments of a possible default.
Analysts reported that Evergrande has not yet made a statement regarding the bond payments of more than $100 million yesterday, and that the issue remains at the center of the agenda.
On the other hand, while the liquidity injections of the People's Bank of China (PBoC) continue to erode the pressures in the stock markets, according to the data released today, the Consumer Price Index in Japan decreased by 0.4 percent annually in August, while the leading manufacturing industry PMI was 51 in September from 52.7. down to .2.
With these developments, Shanghai composite index depreciated by 0.23 percent in China, Hang Seng index depreciated by 0.10 percent in Hong Kong and Kospi index depreciated by 0.15 percent in South Korea, while in Japan, which was not traded yesterday due to the public holiday, The Nikei 225 index rose 2 percent today.
In Turkey, the focus of the agenda was the Monetary Policy Committee meeting of the Central Bank of the Republic of Turkey (CBRT). Contrary to expectations, the CBRT lowered the policy rate by 100 basis points to 18 percent.
BIST 100 index in Borsa Istanbul, which followed a selling course after the decision, closed the day at 1,401.46 points, 0.43 percent below the previous closing. The dollar/TL, which saw its peak with 8.8013 yesterday, closed at 8.7679, 1.32 percent above the previous closing. Dollar/TL is traded at 8.7830 level at the opening of the interbank market today.
Analysts stated that in addition to the speeches of Fed members, capacity utilization, real sector confidence index and sectoral confidence indices in the country, Ifo business environment confidence indices in Germany and new house sales in the USA will be followed today, technically the BIST 100 index will be 1,390. He noted that the level of support is in the position of support and resistance at 1,420 points.
The data to be followed in the markets today are as follows:
10.00 Turkey, capacity utilization in September
10.00 Turkey, September real sector confidence index
10.00 Turkey, September sectoral confidence indices
11.00 Germany, September Ifo business climate confidence indices
17.00 the USA, August new home sales
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