Turkish Markets Daily on Nostr: Before Opening On the global front, despite ECB President Lagarde's interest rate cut ...
Before Opening
On the global front, despite ECB President Lagarde's interest rate cut messages, yesterday's higher than expected CPI data in the US and rising oil prices due to geopolitical risks have led to a volatile outlook. On the last trading day of the week, futures S&P500 index -0.1%, futures MSCI GOP index +0.3% with a mixed trend. On the global agenda, 4Q23 corporate balance sheets (JP Morgan, BofA, Citigroup, Wells Fargo) to be announced in the US today will stand out.
In December, S&P upgraded Turkey's rating outlook to positive while Moody's did not make any changes. It should be noted that Moody's rates Turkey one notch lower than S&P and Fitch. Prior to this agenda item, MSCI Turkey index outperformed MSCI Emerging Markets index by 4.9% since the beginning of the week. In the BIST-100 index, 7900 and 8000-8050 are the resistances we follow for the near term.
While approaching the 8000-8050 region, we maintain our view that the rise may lose tempo in the short term. In possible corrections, 7700 and 7600 levels are the short-term support levels we follow.
On the global front, despite ECB President Lagarde's interest rate cut messages, yesterday's higher than expected CPI data in the US and rising oil prices due to geopolitical risks have led to a volatile outlook. On the last trading day of the week, futures S&P500 index -0.1%, futures MSCI GOP index +0.3% with a mixed trend. On the global agenda, 4Q23 corporate balance sheets (JP Morgan, BofA, Citigroup, Wells Fargo) to be announced in the US today will stand out.
In December, S&P upgraded Turkey's rating outlook to positive while Moody's did not make any changes. It should be noted that Moody's rates Turkey one notch lower than S&P and Fitch. Prior to this agenda item, MSCI Turkey index outperformed MSCI Emerging Markets index by 4.9% since the beginning of the week. In the BIST-100 index, 7900 and 8000-8050 are the resistances we follow for the near term.
While approaching the 8000-8050 region, we maintain our view that the rise may lose tempo in the short term. In possible corrections, 7700 and 7600 levels are the short-term support levels we follow.