Global markets are starting the third day of this week in an optimistic mood. Following yesterday’s bullish close on the New York stock exchanges, US futures are also on the plus side this morning. Green screens are seen throughout Asia, influenced by the positive trend in the USA. The incentive package announced in South Korea and the service PMI in China coming in above expectations are effective in the rise in Asia. South Korea’s KOSPI Index leads with an increase of 2.5 percent.
Domestically, inflation, the most important data of the day, surprised in May and came above expectations. While an increase of around 0.90 percent was expected in the markets, inflation for May was announced as 1.36 percent.
Limited rise in Dollar/TL after inflation
The dollar, which continues to lose value in global markets, is also losing strength against the Turkish Lira. This movement gave way to a limited increase after today’s surprise inflation data. The dollar/TL exchange rate, which fell by 7.5 percent from its peak of 7.27, started at 6.70 this morning after falling below 6.70 last night. After the inflation data, dollar/TL rose above 6.72 levels. Euro/TL is at 7.53 level.
In parallel with the optimism in world stock markets, the BIST 100 index at Borsa Istanbul rose by 0.77 percent to 108,926.20 points at the opening.
Oil prices hit a 3-month high
Brent oil is above $40 again after months. In the oil markets, claims that all countries have agreed to extend the cut for 1 month due to the OPEC meeting and the decrease in oil stocks in the USA are pushing the prices up.
The barrel of Brent oil, after rising to $40.42, is currently trading at $40.05, an increase of $0.48 compared to yesterday. The barrel of US crude oil is at $37.60/barrel, an increase of 79 cents compared to yesterday.
Upward movement in US futures indices
Expectations that economies will begin to open up to ease coronavirus measures and that the recovery will accelerate with the incentives implemented by governments have a positive impact on the US stock markets.
Despite the tensions between the USA and China and the intensification of anti-racist protests in the USA, the upward movement in US futures indices continues. The futures Dow Jones Industrial Average is currently (08:35) trading at 25,822 points, up 121 points compared to yesterday. The S&P 500 futures index is up 10.25 points, 0.33 percent, and the Nasdaq 100 futures index is up 21.75 points, 0.23 percent.
Source: https://www.dunya.com/finans/haberler/dolartl-enfasyon-sonrasi-yukseliste-haberi-471803
