Turkish Markets Daily on Nostr: Before Opening The postponement of Fed rate cut expectations and the news flow ...
Before Opening
The postponement of Fed rate cut expectations and the news flow regarding geopolitical risk appetite caused global equity markets to start 2024 with a weak trend and US bond yields to rise. As of the last trading day of the week, positive expectations for chip manufacturers support reaction buying in a weak outlook. At the start of the day, the futures S&P500 index -0.1% and the futures MSCI GOP index +0.2% have a horizontal trend.
The weakness on the global front caused the recovery in Borsa Istanbul to lose momentum after a positive start to the year. The weekly return on the BIST-100 index is 0.3%, the index continues to fluctuate between 8000-7980 support and 8110-8160 resistance range. On a day with weak data traffic, limited reaction buying can be seen above the support zone. Unless the 8110-8160 zone is exceeded, we do not expect the recovery to gain momentum. In case of a break in the 7980 support zone, the short-term correction pressure towards the 7900-7800 range may increase.
The postponement of Fed rate cut expectations and the news flow regarding geopolitical risk appetite caused global equity markets to start 2024 with a weak trend and US bond yields to rise. As of the last trading day of the week, positive expectations for chip manufacturers support reaction buying in a weak outlook. At the start of the day, the futures S&P500 index -0.1% and the futures MSCI GOP index +0.2% have a horizontal trend.
The weakness on the global front caused the recovery in Borsa Istanbul to lose momentum after a positive start to the year. The weekly return on the BIST-100 index is 0.3%, the index continues to fluctuate between 8000-7980 support and 8110-8160 resistance range. On a day with weak data traffic, limited reaction buying can be seen above the support zone. Unless the 8110-8160 zone is exceeded, we do not expect the recovery to gain momentum. In case of a break in the 7980 support zone, the short-term correction pressure towards the 7900-7800 range may increase.