Analysts’ Views
Analysts say that uncertainties in global stock markets continue and that it is becoming difficult to find direction. Donald Trump’s increasing chance of becoming president in the US is increasing concerns that trade wars and geopolitical risks may rise again. Fed Chair Jerome Powell’s statements regarding interest rate cuts are also increasing uncertainty in the markets.
Attack on Trump and Its Effects
The attack on Republican presidential candidate Trump at a rally in Pennsylvania has affected the course of the presidential race. Analysts believe that the attack has increased Trump’s chances of becoming president. This situation is expected to affect the economic policies of the US. The possibility of trade wars coming back to the agenda may cause increased selling pressure in the stock markets of some countries.
Fed’s Interest Rate Cut and Its Effects
Fed Chair Powell’s interest rate cut statements have affected pricing in money markets. It is now considered certain that the bank will cut interest rates at least twice by the end of the year. Inflation data and economic indicators also support interest rate cut expectations. Powell’s statements may reduce uncertainty in the markets.
Daily Data and Technical Analysis
Analysts state that today the budget balance, ZEW expectation indices in Germany and the Eurozone, and retail sales data in the US will be monitored. From a technical perspective, the resistance levels in the BIST 100 index are 11,200 and 11,300 points, while the support levels are 11,000 and 10,900.
