BORSAGUNDEM.COM
According to Powell’s statements yesterday As selling in US equity markets accelerated, bond market price formation began, with rates rising 50 basis points in three sessions through July. While the market sell-off has continued into the present, Borsa Istanbul’s decline exceeded 3 percent. The BIST 100 Index’s 7-week rally appears to have ended with today’s selling. During this period, the index hit an all-time intraday high of 2,562.28 points and broke the closing record at 2,556.81 points.
A slight upward trend can be seen in exchange rates. Today at 18:00 Dollar/TL is trading at 14.75 and Euro/TL at 15.90.
Powell: A rate hike of 50 basis points will be on the table
BORSA ISTANBUL
Analysts said the intense data agenda, particularly manufacturing and services PMIs, to be released globally today will be followed, as well as statements by ECB President Christine Lagarde and Bank of England (BoE) Governor Andrew Bailey , are the focus of investors at the ongoing IMF meetings.
Analysts said that 2,600 points in the BIST 100 index are in the resistance position from a technical perspective and that the 2,490 and 2,440 levels will come to the fore as support.
The BIST 100 index on Borsa Istanbul closed the day down 3.30 percent at 2472.50 points.
While the BIST 100 index declined 84.31 points compared to the previous close, the total transaction volume stood at 52.9 billion TL.
The index recorded the lowest 2465 points and the highest 2561 points throughout the day.
Stocks most traded by foreigners
GLOBAL MARKETS
United States of America
Statements about the policy steps to be taken by the Fed in the wake of mounting inflationary pressures in the US continue to affect asset prices. Speaking at the panel on the global economy at the International Monetary Fund’s (IMF) spring meeting yesterday, Powell said a 50 basis point rate hike is on the Fed’s May 3-4 table. Noting that inflation is already very high and monetary policy is still supportive compared to the past, Powell noted that it is appropriate to act a little faster.
The New York stock market, which started the day with buyers, fell after Powell said. The S&P 500 index fell 1.48 percent, the Nasdaq index fell 2.07 percent and the Dow Jones index fell 1.05 percent. Index futures contracts in the USA also started the new day with a decline.
The New York stock market started the last trading day of the week with a decline
At the opening, the Dow Jones index lost almost 200 points and fell 0.56 percent to 34,598.72 points. The S&P 500 index fell 0.40 percent to 4,375.90 points, while the Nasdaq index was flat at 13,173.44 points.
The Fed is expected to hike interest rates by 200 basis points in 4 months.
EUROPE
On the other hand, there was a mixed performance in European stock markets, which closed before US stock markets intensified in selling. The direction of European Central Bank (ECB) President Christine Lagarde and the news flow on the Russia-Ukraine war remain at the center of the agenda. In his speech yesterday, Lagarde explained that there are structural differences between the European economies and the US economy and that the two economies are moving at different speeds and that they will monitor future macroeconomic data to make a decision on rate hikes.
Yesterday the DAX 30 index in Germany rose 0.98 percent and the CAC 40 index in France rose 1.36 percent, while the FTSE 100 index in England rose 0.02 percent and the FTSE MIB 30 index in Italy down 0.29 percent. Index futures contracts in Europe started the new day with sellers.
The European stock markets started the last trading day of the week with a minus
After the opening, the leading index Stoxx Europe 600 fell by 0.88 percent to 457.5, while the DAX 30 index in Germany fell by 1.04 percent to 14,352 points. In the UK, the FTSE 100 index fell 0.53 percent to 7,587 points, in France the CAC 40 index fell 1.18 percent to 6,636 points, in Spain the IBEX 35 index fell 0.52 percent to 8,769 points and in Italy, the MIB 30 index fell 0.52 percent to 24,540, down 1.07.
Will there be a rate hike in Europe?
ASIA
While the selling trend in the US stock markets continued into the new day with the Asian stock markets, the Chinese stock market started to rise near the close and diverged positively. While the restrictions in practice due to the novel coronavirus (Covid-19) epidemic in China are gradually being eased, albeit slowly, a certain number and priority employees of the company are allowed to go to work. Analysts noted that the move in question is important for normalization and that Chinese authorities’ call for major investors to buy shares has also eased selling pressure in stock markets.
With these developments, China’s Shanghai Composite Index was down 0.8 percent near the close, Japan’s Nikkei 225 Index was down 1.6 percent, South Korea’s Kospi Index was down 0.8 percent and Hong Kong’s Hang Seng Index was down 0 Percent.
Asian stocks slumped without China
In China, the Shanghai Composite Index rose 0.2 percent to 3,087 points and in South Korea, the Kospi Index fell 0.9 percent to 2,705 points. While the Nikkei 225 index in Japan closed at 27,105 points, down 1.6 percent, the Sensex index in India stood at 57,608 points, down 0.5 percent and the Hang Seng index in Hong Kong at 20,611 points with a minus of 0.3 percent.
Inflation rose in Japan
MONEY MARKET
On the open market in Istanbul, the dollar costs 14,7130 lira, the euro 15,9540 lira. the day began.
At yesterday’s closure The selling price of the dollar was 14.7030 lire and the selling price of the euro was 15.9558 lire.
USD/TL, after starting with an ascent to date from 11.10 a.m It is trading at 14.7310, up 0.17 percent from the previous close. at the same time euros/tsp down 0.25 percent from 15.9190, pounds sterling/TL It is selling at 19.0230, down 0.70 percent.
dollar index It has stabilized at the 100.9 level in these minutes, up 0.3 percent from the previous close.
euro dollar Conversely, parity finds buyers at 1.0805 down 0.25%.
Midday: On the free market in Istanbul, dollars are sold at 14,7400 liras and euros at 15,9240 liras.
As of 1 p.m. in the international markets, the euro/dollar parity is 1.0800, the sterling/dollar parity is 1.2870 and the dollar/yen parity is 128.5.
End of the day: On the free market in Istanbul, dollars are sold at 14,7507 liras and euros at 15,9056 liras.
At 18.00 in the international markets, the euro/dollar parity is 1.0780, the sterling/dollar parity is 1.2840 and the dollar/yen parity is 128.34.
dollar keeps rising
CRYPTO COINS
Bitcoin was up as much as 4 percent yesterday ahead of Powell’s statements. However, the cryptocurrency pioneer ended the day on the downside as the selling came after Powell said a 50 basis point rate hike was “on the table.” Today try to recover bitcoin, As of 6:00 p.m., it is trading at $39,900, down 1.44 percent. ether minus 0.18 percent 2980, BNB It is trading at $409, up 1.16 percent.
COMMODITY MARKET
OIL
barrels of Brent Oil, It is trading at $107.12 on the international markets.
The barrel price of Brent oil, which rose to $109.80 yesterday, ended the day at $108.33. barrel price of Brent oil, from today 09:10 It stood at $107.12, down 1.12 percent from the close. In the same minutes, a barrel of West Texas-style crude found buyers at $102.56.
Potential rate hikes in the US, quarantine in China due to the rise in Covid-19 and weak global growth impacted the price decline.
Midday: The barrel price of London Brent crude is trading at $106.2, down 1.9 percent.
End of the day: The barrel price of London Brent crude is trading at $106, down 2.07 percent.
Oil prices fall despite supply shortages
GOLD
Yesterday, Gold’s gram price, which fell in tandem with the drop in the ounce price, ended the day at 922.7 liras, down 0.1 percent.
gram price of gold, after starting the new day with an increase from 10:45 a.m It is trading at 925 lira, up 0.2 percent from the previous close. at the same time quarter gold 1,517 lire, Republic of Gold It is also sold for 6,198 lire.
Yesterday, after US Federal Reserve (Fed) Chairman Jerome Powell signaled that a 50 basis point rate hike in May is on the table and that the bank can act a little quicker given high inflation, the day ended at $1,951.3 with a minus of 0.3 percent. ounce price of goldIt is currently trading at $1,953.5, up 0.1 percent from its previous close.
Analysts explained that technically $1,935 per ounce of gold is in the support position and $1,970 in the resistance position.
Midday: While the price of gold in grams is trading at 919 lira, quarter gold is selling at 1506 lira and Republican gold at 6007 lira.
Gold is trading at $1,943 an ounce, down 0.4 percent in international markets.
End of the day: While the gram price of gold is sold at 918 lira, quarter gold is sold at 1505 lira and Republican gold is sold at 6004 lira.
An ounce of gold is trading at $1935, down 0.79 percent in international markets.
Gold is preparing to end the week in losses
FUTURE MARKETS
The index contract, which tracked a buy-weighted price yesterday, closed the regular session at 2,883.75 points, up 1.3 percent from its previous close. The index contract fell 0.6 percent to 2,867.00 points in the evening session with statements from Federal Reserve (Fed) Chairman Jerome Powell.
In Borsa Istanbul Futures and Options Market (VIOP) The contract, based on the BIST 30 index for April futures, stabilized at 2,865 points after starting the day on a decline.
The April futures index contract is trading at 2,865.00, down 0.7 percent from the previous session’s close after hitting a low of 2,855.00 on the open. Analysts reported that technically there are 2,850 and 2,800 points in the support position and 2,880 and 2,900 points in the resistance position in the index contract.
The index contract in VIOP started the day on a decline
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