Investing.com – In focus of global markets The Fed’show much interestWhile there is a subject of discount, it will be announced today Non-Farm Employmentdata has become much more valuable.
Data released in the US yesterday increased concerns about recession again. There was a weak outlook in the US stock market yesterday due to these concerns. S&P 500, fell by 0.3% yesterday NasdaqIt remained flat with a change of 0.05%. Dow Jones, closed the day with a 0.15% loss. Small-scale companies Russell 2000, was the index that declined the most, dropping by 0.6%. However, there was a weakening in the data on the labor force DXYAnd bondcontinued to suppress interest rates.
On the last trading day of the week, market participants are focused on the US Non-Farm Employment data to be announced today at 15:30 GMT. This month’s employment data has become extremely valuable as it coincides with the Fed’s interest rate cut process. Because the Fed’s focus from inflationIt is expected that interest rates will be adjusted according to the non-farm payrolls data as it shifts to the workforce. Following the latest information, the expectation of a 50 basis point cut from the Fed this month has increased to 43%. In non-farm payrolls, In ADPAs it is, receiving weak information is expected to support a 50 basis point rate cut. While further rate cuts by the Fed are a positive approach for the market, on the other hand, a higher rate cut would mean that the bank is accepting a recession, and on the other hand, it is seen as worrying.
Following today’s US employment data, Fed members John WilliamsAnd Christopher WallerTheir speeches will be followed. Fed Governor Waller and New York Fed President Williams’ post-employment opinions will be closely followed as they are the first.
Domestic agenda
The OVP was on the agenda this week in the country. Vice President Cevdet Yılmaz, yesterday Medium Term ProgramIn his presentation, he announced the basic macroeconomic targets such as inflation, employment and growth for the period 2025-2027. While the growth expectation for 2024 was reduced from 4% to 3.5%, the inflation expectation for 2024 was increased from 33% to 41.5%. The current account deficit target was reduced from 3.1% to 1.7% for this year.
According to the TCMB information announced yesterday, a decrease was recorded in bank reserves in the week of August 29. Net reserves excluding swaps fell below $20 billion after 8 weeks. Total reserves also fell from $150 billion 413 million to $149 billion 373 million.
While the decline in exchange rate protected TL deposit and participation accounts continued, these accounts decreased from 1 trillion 619.2 billion TL to 1 trillion 594.4 billion TL.
Fitch is expected to release its assessment of Turkey after the markets close today. The expectation is that Fitch will upgrade Turkey’s rating.
In Borsa Istanbul BIST 100While starting the day horizontally at 9,935 points dollar/TLIt is trading at 34.03 in the morning hours, up 0.2%. Euro/TLWhile the process is seen at the border of 37.9 grams of goldAs of now, it is finding buyers at 2,757 TL with a 0.35% increase.
