Preparing for Market Opening: What You Need to Know

Important Developments Before Market Openings

During this period of seeking direction in global markets, pricing is primarily shaped around central bank expectations, inflation data, and risk perceptions related to the technology sector. Asian stock markets started the day weak due to increasing uncertainties regarding investments in artificial intelligence. The possibility of an interest rate hike ahead of the Bank of Japan's meeting is increasing selling pressure in the Nikkei and other regional indices. Additionally, the approval of arms sales to Taiwan by the U.S. keeps geopolitical risk perceptions alive. This situation has led to a general pullback in the MSCI Asia-Pacific index.

Effects of Monetary Policy in Europe

In Europe, monetary policy decisions are at the forefront. The European Central Bank, along with the central banks of Norway and Ireland, is expected to keep interest rates steady, while the market's main focus is on economic projections and forward guidance. Recent data does not produce a strong signal that would require the European Central Bank to change its current stance. The pressure of U.S. tariffs on European exports and uncertainties keep the region's growth outlook fragile. It is noted that the growth in 2026 is largely dependent on Germany's fiscal stimulus.

Economy and Inflation in the U.S.

In the U.S., policy statements and macro data are closely monitored. Among the important data is the expected 0.3% increase in November CPI figures. These figures are critical for expectations regarding the Fed's interest rate path. Long-term interest rates and mortgage rates are determined by growth and inflation expectations.

Developments in Currency and Commodity Markets

In the currency market, the weakness of the USD is providing support to emerging market currencies. The USD/TRY exchange rate continues to show a gradual upward trend following the TCMB's interest rate cut. Additionally, with the strong performance of gold in ounce and the support from currency rates, the gram gold has surpassed historical highs. Today, the TCMB's MPC summaries and the second meeting of the Minimum Wage Determination Commission will also be watched.

Highlighted Stocks in Technical Outlook

In terms of technical levels, if the BIST 100 index stays above 11,300, targets of 11,500 and 11,605 may come into focus. In the banking index, movements above 16,500 may target the 16,850 level. In this context, notable stocks include Turkish Gold Enterprises (TRALT) and TR Anadolu Metal Mining (TRMET).