Turkish Markets Daily on Nostr: Before Opening Ahead of tomorrow's ECB meeting, manufacturing and service sector PMI ...
Before Opening
Ahead of tomorrow's ECB meeting, manufacturing and service sector PMI data will be monitored in the US and Europe today. On the domestic agenda, Sweden's accession to NATO was approved by the Turkish Grand National Assembly yesterday.
At the start of the day, futures S&P500 index +0.1% and futures MSCI GOP index +0.1% have a limited positive trend. Ahead of the CBRT's Monetary Policy Committee meeting tomorrow, MSCI Turkey index has a negative divergence of 1% compared to MSCI Emerging Markets index on a weekly basis. 5-year Turkey CDS has risen by 10 bp since Friday's close. MSCI Turkey index lost 1% yesterday led by banking stocks and continued its negative divergence on a weekly basis.
At the start of the week, we expect the BIST-100 index to move closer to the 7900-7850 region, which is the first level we expect to stand out in corrections, while we anticipate reaction buying above this region. 8050-8100 region is the resistance range we will follow in the first stage. Unless the 8150-8160 region is exceeded, we consider the rises as a reaction, while we attach importance to the 7850 region for additional volatility risk.
Ahead of tomorrow's ECB meeting, manufacturing and service sector PMI data will be monitored in the US and Europe today. On the domestic agenda, Sweden's accession to NATO was approved by the Turkish Grand National Assembly yesterday.
At the start of the day, futures S&P500 index +0.1% and futures MSCI GOP index +0.1% have a limited positive trend. Ahead of the CBRT's Monetary Policy Committee meeting tomorrow, MSCI Turkey index has a negative divergence of 1% compared to MSCI Emerging Markets index on a weekly basis. 5-year Turkey CDS has risen by 10 bp since Friday's close. MSCI Turkey index lost 1% yesterday led by banking stocks and continued its negative divergence on a weekly basis.
At the start of the week, we expect the BIST-100 index to move closer to the 7900-7850 region, which is the first level we expect to stand out in corrections, while we anticipate reaction buying above this region. 8050-8100 region is the resistance range we will follow in the first stage. Unless the 8150-8160 region is exceeded, we consider the rises as a reaction, while we attach importance to the 7850 region for additional volatility risk.