Critical Developments You Need to Know Before the Market Opens

Market Analysis and Important Developments

Geopolitical risks and the decisions made by central banks continue to have an impact on global markets. The U.S. seizure of a Venezuela-linked 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 exceeding the $60 level, while WTI tested the $57 band.

Increase in Precious Metals

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

U.S. Economy and Growth Data

In the U.S., the inflation data released last week came in below expectations, while the strong financial results from major technology companies bolstered risk appetite. U.S. indices started the week positively, with particularly strong performances in industrial, financial, raw material, and energy stocks. However, the low trading volumes due to the holiday week are 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 are reacting to this decline in the yen, with the USD/JPY pair retreating to the 156 level. European markets, on the other hand, are experiencing a more subdued trend due to the Christmas week. The European Central Bank's (ECB) upward revisions of inflation and growth forecasts, along with expectations for defense-infrastructure spending, continue to be important in the medium term.

Developments in Domestic Markets

The BIST 100 index closed the first trading day of the week with a slight loss at 11,311 points. The trading volume, which reached 134 billion TL, was noteworthy. Financial leasing and factoring stocks showed strong increases, while brokerage firm stocks faced selling pressure. The banking index, however, continued its upward trend. In the short term, market fluctuations around technical levels are expected, as there is no clear flow of news.