Yesterday, Borsa Istanbul saw a bullish trend. The BIST 100 index closed the day with a 1.78 percent increase at 10,872.56 points. Analysts stated that global stock markets followed a mixed trend due to the signals received from the intensifying election calendar and macroeconomic data worldwide. Today, investors are focusing on the employment report data to be announced in the US.
Data from the US employment report is expected to ease concerns about tight labor markets. Nonfarm payrolls are expected to have increased by 190,000 jobs last month. This could indicate that the labor market is slowly cooling.
Analyses indicate that today’s employment report could affect the Federal Reserve’s (Fed) policy landscape. If the data comes in line with expectations, pricing in the Fed’s future policy moves could become clearer.
Analysts, who noted that a cautious attitude prevailed in recent statements by Fed officials, underlined that the employment report could facilitate the Fed’s decision-making process. It is emphasized that the signals to be received from the items in the data set have great importance on pricing.
Investors will closely follow the treasury cash balance data and the employment report data to be announced in the US today. From a technical perspective, it is stated that the resistance levels in the BIST 100 index are 11,000 and 11,100 points, while the support levels are 10,800 and 10,700.
