Global Markets and Fed Expectations
Ahead of the Fed's September meeting, interest rate expectations, recent movements in foreign exchange, commodities, and cryptocurrency markets, along with stock market data, are being evaluated.
In global markets, as the Fed's September meeting approaches, expectations for an interest rate hike have dropped to 50 percent; while gold and bitcoin gained value, the BIST 100 index on Borsa İstanbul declined, and TÜİK announced inflation data.
Fed Decisions and Interest Rate Expectations
Federal Reserve Board Governor Christopher Waller stated that if economic data shows inflation pressures are easing, he could support keeping interest rates steady at the September meeting.
Commodities, Foreign Exchange, and Cryptocurrencies
While the U.S. 10-year Treasury yield remained at 4.78 percent, spot gold traded at $4,474, and bitcoin tested $82,000 for the first time since May, stabilizing at $81,000.
International Political Developments
U.S. Vice President JD Vance stated that the Fed should lower interest rates, while noting that all options are on the table regarding Iran and that Canadian Prime Minister Mark Carney is ready for an agreement with the U.S.
Asian and European Stock Markets
While Asian stock markets followed a positive course driven by purchases in technology stocks, the Producer Price Index in Europe recorded a monthly increase of 1.6 percent in July.
Borsa İstanbul and Inflation
The BIST 100 index on Borsa İstanbul closed down 0.84 percent at 13,932.46 points, while according to TÜİK data, annual inflation in August came in at 31.51 percent.