Global markets closed last Friday with a rise of up to 3 percent in the New York stock markets, following the surprise employment increase from the USA and the decrease in the unemployment rate. With the atmosphere of optimism that prevailed from Friday, green screens, albeit limited, are seen in US futures and Asian stock markets. In Asia, increases exceeding 1 percent in the Japanese and Taiwanese stock markets stand out. There are increases in the US futures range of 0.20-0.30 percent.
Domestically, there is no very important agenda other than the Treasury’s 2-year benchmark bond auction. In the previous auction, the average interest was 9.65 percent. While Dollar/TL started at 6.77, Euro/TL opened at 7.64.
OPEC+’s extension of production cuts supports oil prices
OPEC+’s decision to extend the 9.7 million barrel/day production cut until the end of July and the fact that countries such as Iraq and Nigeria, which produced more than the quota in May, will compensate for this in the July-September period, support oil prices. In May, China imported 11.3 million barrels/day.
China’s crude oil imports reaching an all-time high in May is also a factor that supports prices. After rising to $43.41 a barrel this morning, the barrel of Brent oil is traded at $43.11, an increase of 81 cents compared to yesterday and Friday. West Texas Intermediate crude was up 62 cents at $40,174 a barrel on NYMEX.
Moody’s: Turkey has many options
Moody’s did not publish a credit rating assessment for Turkey on Friday, which was on its calendar. However, Moody’s evaluated Turkey with two different reports. In the first of the reports, Moody’s stated that Turkey’s credit rating of B1 with a negative outlook reflects a balance, while in the second it stated that “Turkey has many options to overcome current external challenges.”
Foreign trade deficit in China exceeding expectations
China’s foreign trade balance gave a surplus above expectations, with a decrease in exports below expectations and a decrease in imports above expectations. China’s imports from the USA decreased by 13.5 percent in May compared to the same period last year. In the same period, exports to the USA decreased by only 1.2 percent.
China’s foreign exchange reserves increased contrary to market expectations and reached over 3.1 trillion dollars.
Source: https://www.dunya.com/finans/haberler/kuresel-piyasalarda-yeni-hafta-olumlu-basladi-haberi-472177
