At the start of the new day, the highlights of the markets and the economic agenda…
Amendments were made to the Regulation on Principles and Rules to be Applied in Retail Trade. With the regulation made in Article 12/B of the Regulation, which imposes a general limitation on installment sales, installment limits were introduced for automobiles according to their value. Accordingly; 60 months for vehicle sales with a final invoice value of 120 thousand liras or less, 48 months for vehicle sales between 120 thousand-300 thousand, 36 months for vehicle sales between 300 thousand-750 thousand liras and 24 months for vehicle sales over 750 thousand liras.
…::LATEST SITUATION IN THE MARKETS::.
While the most important agenda item of the week in domestic and foreign markets will be the Central Bank decisions, Treasury auctions and US data will be closely monitored today.
Domestic exchange rates: The Turkish Lira is following a calm course against the dollar and the euro on the second day of the week. The dollar / TL, which fluctuated in the 7.50-7.60 band at the beginning of the week, is valued at 7.53-7.54 as of this morning. The euro/TL, which draws similar graphics, is trading just above 9 liras.
Foreign markets: Asian stock markets rose, following gains in the main indices on Wall Street. The MSCI index, which tracks Asia-Pacific stock markets outside Japan, rose around 0.7 percent, supported by a 1.2 percent rise in the Australian stock market. Japan’s Nikkei index rose 0.6 percent, while China’s locomotive index and Hong Kong’s Hang Seng indexes also rose around 0.7 percent.
Gold Gold prices recovered ahead of tomorrow’s US interest rate decision. The spot gold price rose above $1,735 this morning in the market, where the Fed’s messages on dealing with inflation and concerns about rising bond yields are expected.
Oil The assessments that 21 countries in Europe suspending the use of AstraZeneca COVID-19 vaccine will lead to a delay of the vaccination program for 1 month had a negative impact on oil prices. With the effect of expectations that oil stocks in the USA increased, the price of Brent oil fell to 68 dollars a barrel this morning.
.::LATEST NEWS IN TURKEY AND THE WORLD::.
“We have decided to continue the current practice in our cities for a while longer and to closely follow the developments,” President Erdoğan said at a press conference following yesterday’s cabinet meeting on COVID-19 measures. Erdoğan also announced that the short-time working program will end at the end of March.
US President Joe Biden said that within the framework of the coronavirus aid package, 100 million aid checks worth $ 1,400 will be distributed to Americans in the next 10 days and the 100 million vaccination target they have set will be reached in the same period.
Japan’s Ministry of Economy, Trade and Industry announced that industrial production increased by 4.3 percent on a monthly basis in January, while it decreased by 5.2 percent on an annual basis.
AGENDA OF THE DAY
TURKSTAT will publish wage earner statistics and Central Bank of the Republic of Turkey (CBRT) will publish private sector debt data (10.00).
CBRT will announce the house price index for the first month of the year in the afternoon. House prices rose by 1.7 percent mom and 30.3 percent yoy in December (14.30).
The Ministry of Treasury and Finance will organize 2 bond auctions. 2-year and 5-year fixed coupon bonds will be resold. In the previous 2-year bond auction, the average interest rate was 14.99 percent and 13.50 percent for 5-year bonds.
Retail sales and import prices will be announced at the same time in the US (15.30). In the first month of the year, retail sales increased by 5.3 percent and core retail sales excluding automobiles by 5.9 percent. Industrial production figures will follow the two data (16.15).
Other data releases of the day in the US will be business inventories, NAHB Housing Market Index (17.00), API oil stocks (23.30). There is also a 20-year bond auction on the calendar.
In Europe, ZEW Economic Sentiment Index will be the most important data of the day. The index for Germany was realized as 71.2 last month.
EU Economic and Financial Affairs Council Meeting will be held.
