Despite the fact that the number of Covid-19 cases in the USA exceeded China and harsh measures were implemented, the positive trend of the stock markets continued yesterday.
In the USA, which rose to the first place in the world, leaving behind China and Italy, with the number of 82 thousand 179 cases in the Covid-19 epidemic, President Donald Trump announced that the US Navy hospital ship named Comfort will arrive in New York Harbor on Monday, as part of the fight against the epidemic. .
Despite these developments, after US Federal Reserve Chairman Jerome Powell’s statements that they could take further steps if necessary to support the markets, the Dow Jones index gained 6.38 percent, the S&P 500 index gained 6.24 percent and the Nasdaq index gained 5.60 percent.
The dollar index, which moved in a downward trend after central banks expanded swap channels, dropped by 1.7 percent yesterday to 99.3.
There were also increases in European stock markets yesterday, in parallel with the increasing risk appetite. While German Chancellor Angela Merkel stated that the Covid-19 epidemic put countries in a more difficult situation than the banking and financial crisis in 2008, the emergency measures prepared by the European Union (EU) Commission due to the epidemic were approved by the European Parliament (EP).
The stock markets, which closed while the AP meeting was ongoing, priced in positive expectations with the increased risk appetite and the relaxation of funding channels. Yesterday, the DAX index in Germany gained 1.28 percent, the FTSE 100 index in the UK gained 2.24 percent and the CAC 40 index in France gained 2.51 percent. Euro/dollar parity continued its upward trend and rose above 1.10 again after a week.
The positive trend in the US and European stock markets continued into the new day with the Asian markets. Although the Sensex index lost 0.5 percent of its value near the closing after the Central Bank of India reduced the policy rate by 75 basis points to 4.4 percent, the Nikkei 225 index in Japan decreased by 2.3 percent, the Shanghai composite index in China decreased by 0 percent, 8 and the Kospi index in South Korea increased by 0.2 percent.
The BIST 100 index, which gained 2.77 percent in value at Borsa Istanbul, which had a positive trend yesterday, parallel to the world stock markets, completed the day at 91,527.59 points. Dollar/TL is traded at 6.3990 at the opening of the interbank market today, after closing at 6.3980 with a 0.3 percent decrease yesterday.
Analysts stated that although concerns about the course of the epidemic and economic activity continue, the incentives implemented one after another by economic managements support the markets.
Analysts stated that today the economic confidence index in the country, personal income and expenditures in the USA and the University of Michigan consumer confidence index data will be followed abroad, and noted that technically, the 92,500 and 95,000 levels in the BIST 100 index stand out as resistance and 88,500 as support.
Analysts said that the 6.37-6.46 band will be followed in dollar/TL.
The data to follow in the markets today are as follows:
10.00 Türkiye, March economic confidence index
15.30 USA, February personal expenses
17.00 USA, March University of Michigan consumer confidence index
Source: https://www.aa.com.tr/tr/ekonomi/kuresel-piyasalar-lojistif-gorunumunu-koruyor/1781320
