The effects of increasing energy imports in the markets on economic policies, especially on the exchange rate that bankers describe as publicly controlled, are also closely monitored.
A NEW BOTTOM IS SEEN IN TL
on different trading platforms Dollar/TL is the new intraday high level 19.17 he saw. It continues to be traded at the 18.57 band again.
The expectation that the CBRT will reduce the interest rate to single digits before the end of the year is widespread. Concerns continue in the market whether high energy import costs will disrupt the foreign exchange balance in the upcoming winter period. Economy management, on the other hand, says that the market has expressed these concerns at various times, such as the summer KKM redemption period, but the realizations show that these concerns are not necessary.
According to the CBRT data, as of last week, the bank’s gold reserves were 39 billion dollars, its foreign exchange reserves were 68, and its total reserves were 107 billion dollars.
The 780 million dollar portion of the South Korean swap agreement was transferred to the Central Bank (CBRT) accounts last week.
In addition to swap agreements, the CBRT has recently increased its reserve currency deposit accounts. Erdogan also said that “friendly countries support” at the time of this increase in reserves. The markets are also watching whether Rosatom will transfer new funds for the 20 billion dollar nuclear power plant project in the coming period.
NON-AGRICULTURAL EMPLOYMENT IS EXPECTED TO INCREASE
An important part of the data that the US Federal Reserve (Fed) takes into account the most, along with inflation, in determining the monetary policy will be published today. In this context, signals will be obtained from the non-farm employment, unemployment and average hourly earnings data for September as to whether the Bank’s aggressive steps lead to a cooling in the labor market. Expectations regarding the aforementioned data indicate that the increase in non-farm employment will decline from 315 thousand to 250 thousand and the unemployment rate will remain constant at 3.7 percent.
.