Data and Expectations Before the Market Opens

Fundamental Indicators at Market Opening

The recent flow of data and central bank expectations in global markets continue to be decisive for pricing. In the US, the increase in non-farm payrolls for November reached 64,000, exceeding expectations of 50,000. However, the October data was revised downward beyond expectations. The unemployment rate rising to 4.6% and the slowdown in hourly earnings indicate a gradual cooling in the labor market.

Fed and Eurozone Monetary Policies

The remarks of Fed Chairman Powell regarding employment data and the slowdown in job creation support expectations that interest rate cuts may continue into 2026. In the bond market, alongside this outlook, US interest rates are retreating, while the dollar index maintains its weak trend. In the Eurozone, although PMI data shows a decline in the manufacturing sector, the indices remaining above the 50 level sustain positive growth expectations for the last quarter of the year.

Effects on Oil and Precious Metals

In the foreign exchange market, the global weakening of the dollar following the Fed's interest rate cut continues to support the EUR/USD pair. Commodity prices fluctuate in line with geopolitical developments and monetary policy expectations. Following the US's decisions regarding Venezuelan oil, oil prices showed a short-term reactionary increase. In precious metals, the Fed's easing process supports gold; spot gold is maintaining a strong trend above the $4,300 level.

Asian Markets and Local Stock Exchange Developments

In Asian markets, Japan's export data exceeds expectations, and the strong demand for semiconductors supports risk appetite. The increasing interest in domestic technology companies in China is also positively impacting stocks. In Borsa Istanbul, pricing has recently been dominated by technical levels. The breakout of the medium-term descending channel resistance at the 11,160 level strengthened the technical outlook in the BIST 100 index. After attempts to rise towards the 11,500 level, the index faced profit-taking and completed the day above the 11,300 band.

Market Expectations and Analyses

In the overall outlook, stability above the 11,160 level indicates an upward trend in the medium term. If the 11,500 level is surpassed, the historical peak of 11,605 may come into focus. In potential pullbacks, the 11,280–11,120 range is being monitored as a short-term support zone. Additionally, sustainability above the 16,500 level in the banking index may allow for the targeting of the previous peak of 16,850.

In conclusion, it can be stated that the fundamental indicators and developments to be considered at the market opening harbor significant opportunities for investors. It is critical for investors to be cautious to minimize potential risks.