Critical Developments You Need to Know Before the Market Opens

Market Analysis and Important Developments

Geopolitical risks and the decisions of central banks continue to be impactful in global markets. The U.S. seizure of a Venezuela-related oil tanker, combined with uncertainties in the Middle East, has increased investors' search for safe havens. This situation has led to a rise in oil prices, with Brent crude surpassing the $60 level and WTI testing the $57 range.

Increase in Precious Metals

Under a similar risk perception, precious metals have also gained value. During the Asian session, gold approached $4,500 per ounce, reaching new record levels, while silver began to challenge the $70 threshold. This trend is increasing investors' interest in precious metals.

U.S. Economy and Growth Data

In the U.S., recently announced inflation data fell short of expectations, while strong financial results from major tech companies reinforced risk appetite. U.S. indices started the week positively, particularly with industrial, financial, raw materials, and energy stocks standing out. However, trading volumes have been low due to the holiday week, which is noteworthy. Today's release of third quarter growth data, core PCE, and daily durable goods orders is closely monitored by investors.

Asian and European Markets

In Asia, the depreciation of the Japanese yen is noteworthy. Japanese officials have reacted to this decline in the yen, with the USD/JPY pair falling to around 156. European markets, meanwhile, are experiencing a quieter trend due to the Christmas week. The European Central Bank’s (ECB) upward revisions of inflation and growth forecasts and expectations regarding defense-infrastructure spending remain important in the medium term.

Developments in Domestic Markets

The BIST 100 index closed the first trading day of the week at 11,311 points with a limited loss. The trading volume of 134 billion TL was notable. Financial leasing and factoring stocks saw a significant increase, while brokerage stocks faced selling pressure. The banking index continues its upward trend. In the short term, market fluctuations are expected around technical levels, as there is no distinct flow of news.