Latest USD/TL exchange rate
Eyes on ECB data for global markets
While global markets are seeing positive trends as investors are increasingly pricing in interest rate cuts by the U.S. Federal Reserve this year and the performance of chipmaker Nvidia, the European Central Bank’s (ECB) interest rate decision and comments from European President Christine Lagarde today have captured investors’ attention.
Positive trends prevailed in European stock markets yesterday, but the ECB interest rate decision and Lagarde’s verbal guidance will be followed closely today.
Analysts reiterated that a 25 basis point cut from the ECB was a certainty, but said there remained uncertainty about what further steps the ECB might take.
Domestic situation
Speaking at the Global Investment Days event organized by the International Investors Association (YASED) in Ankara, Finance and Treasury Minister Mehmet Şimşek said Turkey’s vulnerability was decreasing and there was no need to worry, adding: “From next month, inflation will start to fall very sharply. This is our path. We have entered a disinflationary period. The transition period is over.”
“At this point we are not including any tax on crypto or stock market profits. There may be very limited fees and taxes imposed on a transactional basis,” Simsek said.
Domestically, weekly monetary and banking data will be tracked, while abroad the ECB interest rate decision and President Lagarde’s verbal guidance, as well as an intensive data agenda, will be tracked.
Here are some notable figures for today’s market:
12.00 Eurozone April Retail Sales
14.30 Turkiye, weekly currency and banking statistics
15.15 Eurozone, ECB June interest rate decision
15:30 US weekly jobless claims
15.30 US foreign trade balance in April
15.45 Eurozone, Speech by ECB President Lagarde
