While the number of casualties and cases are being monitored in the coronavirus outbreak, the eyes of the markets are on the statements made for the opening of the world economies… World stock markets, which started the week with this expectation, are looking for direction. In Asian stock markets, Japan is in the minus while Chinese stock markets are slightly up. US futures are trading around 0.20 percent negative.
In Turkey, eyes are on the interest rate decision to be announced on Wednesday, April 22. Foreks survey predicted that the interest rate will be cut by 50 basis points. While 4 of the 20 economists participating in the survey did not expect a change in interest rates, 16 economists expressed the expectation of a discount at different rates.
Premiums in Borsa Istanbul exceeded 1 percent
In parallel with the calm opening of the week in global markets, the BIST 100 index in Borsa Istanbul started the week at 98 thousand 661 points, up 0.49 percent. With the purchases following the opening, the index carried its gains above 1 percent at the end of the first half hour.
USD/TL retreated to 6.87
The dollar/TL exchange rate, which rose to 6.94 in the morning hours, started to decline with the opening of Turkish markets. As of 10:35 am, the dollar/TL exchange rate fell to 6.87. Euro/TL is at 7.47 levels…
Oil prices, the most active topic of recent weeks, have been falling sharply due to the expiration of May contracts. Brent oil fell below 27 dollars and NYMEX US crude oil fell below 16 dollars.
Gold prices are also at 1680 levels with slight minuses…
Swap deals are closely monitored
Whether Turkey will be able to open a swap channel with global markets is one of the most important topics followed by the markets. While the possibility of IMF for the swap line is weakening, Central Bank Governor Murat Uysal said that they are holding talks with central banks to strengthen our existing cooperation and establish new swap agreements.
President Recep Tayyip Erdoğan held a phone call with US President Donald Trump. The two leaders agreed to continue their close cooperation against the threat posed by the coronavirus outbreak to public health and our economies, as required by the spirit of solidarity required by NATO alliance.
Analysts said that if the CBRT makes a swap agreement, foreign exchange liquidity will increase and the pressure on exchange rates may ease, while the BRSA’s moves give confidence in terms of access to financing, and all these may have a supportive effect on the markets.
Source: https://www.dunya.com/finans/haberler/dolar-687ye-kadar-geriledi-borsa-artida-haberi-468184
