The fluctuation in exchange rates last week is also reflected in the new week. Dollar/TL, which moved in an upward trend on Friday, started the new week with a depression. As of 10.30, dollar/TL is traded at 32.7440, with a decrease of 0.1 percent. At the same time, euro/TL decreased by 0.1 percent to 35.0450, and sterling/TL decreased by 0.3 percent to 41.4900.
Fed and Interest Rate Cuts
While uncertainties about interest rate cuts by the US Federal Reserve (Fed) continue, analysts emphasize that signals of a slowdown in the economy are important for the bank to reduce interest rates. Verbal guidance and statements of Fed officials are closely followed by investors. Minneapolis Fed President Neel Kashkari stated that there should be no rush to reduce interest rates.
US Economic Data Agenda
This week, important data such as retail sales, industrial production and unemployment benefit applications will be announced in the USA. Analysts think that these data may have an impact on the Fed’s interest rate policies. New York Fed industrial index data, which will be followed today, are being watched closely. Technically, in the dollar index, 106 and 107 levels are stated as resistance, and 105 and 104 levels are stated as support.
