[ad_1]
The USD / TRY tested today against the 4.60 level, along with the favorable weather in global markets and inflows into emerging markets, while TL gained more than 1% relative to the dollar.
The markets are focused on the new booth that should be announced Monday night
The dollar / TL which was at 4.6760 at 08.59 this morning, rose today to 4.5985 after 17.41 hours after falling back to 4.5985 , trading at 4.6046.
Presidential spokesman Ibrahim Kalin announced that the "Presidential Mission Ceremony" will be held Monday at 6:00 pm after the inauguration ceremony on Monday, "announced the presidential cabinet on July 9.
Banker said: "The euro / dollar parity has climbed above 1.17, and inflows into emerging market currencies have pushed the USD / TL to test below 4.60. When we look inward, the OHAL has an anticipation to be lifted, and Prime Minister Yıldırım has emphasized it today. After the rise in inflation, a rise in interest rates by foreign institution is expected from the BCT. This expectation is positively reflected in TL. 4.55 level is important in Dollar / TL, but the foreign exchange demand below 4.60 can come, making the movement between 4.55-4.60 difficult.
Prime Minister Binali Yıldırım states that the State of Emergency (OHAL)
Consumer prices rose to 15.39% per annum in 2003, the series based on 2003 reaching its highest level in the last 14 years, with an annual increase of 15.39%,
However, in an environment where growth is expected to slow down in the second half, how can the CBRT take a step forward during of the meeting of July 24, while the CBRT is expected to slow down in the second half? critical this morning
On the bond market, a recent uptrend
Last week, up to 16.20% Thursday, the banker said: "The market currently expects a 50-100 basis point increase in interest rates and 75 basis points of price. The compound interest rate of 10-year benchmark, which was 16.98% before the decline in inflation, rose to 17.74%, the historic record yesterday
which was 17.63% on average at the close and 17.65% tested the historic high, but failed. The average closing rate today was 17.70%, while the value at 17.11 was 17.53%
The compound interest rate for two-year bonds was 20%. , 02% today, peaking at 10 years.
Stock Exchange of more than 99,000
BIST 100 Index on the Stock Exchange Istanbul finished the first half of the day with an increase of 1.36% to 98,549.74 pounds. The BIST 100 index in the first half of the day increased by 1,319.67 points compared to the previous close, while the total volume of transactions was achieved at TL 3.6 billion. Endekste positive time continues in the second half of the day. After seeing the 99.264 level with a gain of more than 2%, the index was just below the closing level of 99,000.
"When cabinet members are appointed, trust must be given."
Timothy Ash of Bluebay Asset, after a 20 percent increase in the 2-year bond, notes: "This reflects the combination of many factors.The Treasury revised its July borrowing program -september because of the uncertainty of Erdogan's interest rate on the firm to be announced on July 9. Erdogan's view on interest rates and constant concern about CBRT's ability to meet this challenge, "he said,"
"Now the focus is on the PPK meeting on July 24th, and the day of the meeting. assumption is that the CBRT will have to raise interest again – probably 100 basis points or more – to 19% that even 20 percent the withdrawal should be more cautious … and among them all, as well as the deficit figures of the trade / current balance with the help of rebalancing start in this stabilized TL. But now comes a problem of trust in Turkey, and Erdogan's cabinet member to determine
Borsada continues the "risk of strong selling"
The bulletin, shared by Şeker Yatırım, says: "The high rate of bond interest rates should be maintained and the CDS High-level risk pricing for TL assets continues. "
" There is a stronger prospect compared to other assets of TL after BIST has a strong negative separation before the election and that equity valuations reach very attractive levels. However, we must not forget that the rise in interest rates will lead to a decline in stock market valuations over the medium term. Therefore, it is advantageous to continue the cautious approach in determining the short-term positions taken at BIST by the short-term positions of loss interruption levels in the nature of reactions and the rise of reactions. The small volume of the rise in BIST suggests that the uptrend has not yet been so strong and that there is a new momentum for a strong momentum after the rebound. BIST is expected to continue to rise in response to BIST after the elections began to move with a higher correlation with foreign countries due to diminishing trade war concerns and the continued rise in reaction from foreign stock markets . Although it is not very strong, we expect BIST to continue its positive trend in the second half due to the fact that foreign purchases are taking place in its current rise and the strong positive trend in foreign markets. "
Source link
