"Data and Expectations Before the Market Opens"

Fundamental Indicators at Market Opening

The recent data flow and central bank expectations in global markets continue to be decisive on pricing. In the U.S., the non-farm payroll increase for November was 64,000, surpassing the expectation of 50,000. However, the October data was revised downward beyond expectations. The unemployment rate rose to 4.6%, and the slowdown in hourly earnings indicates a gradual cooling in the labor market.

Fed and Eurozone Interest Rate Policies

Fed Chairman Powell's emphasis on employment data and the slowdown in job growth support expectations that interest rate cuts could continue in 2026. In the bond market, U.S. interest rates are retreating along with this outlook, while the dollar index maintains its weak trend. In the Eurozone, while PMI data shows weakness in the manufacturing sector, remaining above the 50 level continues to support positive growth expectations for the last quarter of the year.

Impacts on Oil and Precious Metals

In the currency market, the global weakness of the dollar following the Fed's rate cuts continues to support the EUR/USD pair. Commodity prices fluctuate in line with geopolitical developments and monetary policy expectations. In light of the U.S. decisions regarding Venezuelan oil, oil prices showed a short-term reaction rally. In precious metals, the Fed's easing process supports gold; the price of gold is showing a strong performance, remaining above the $4,300 level.

Asian Markets and Local Stock Exchange Developments

In Asian markets, Japan's export data exceeded expectations, and the strong demand for semiconductors supports risk appetite. The increasing interest in local technology companies in China is also positively reflected in stock prices. At Borsa Istanbul, pricing has been dominated by technical levels in recent days. The breakout of the mid-term descending channel resistance at the 11,160 level strengthened the technical outlook for 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

The overall outlook indicates that the sustainability above the 11,160 level shows an upward trend in the medium term. If 11,500 is surpassed, the historical peak of 11,605 may come to the agenda. In case of a pullback, the 11,280–11,120 range is being monitored as a short-term support region. Additionally, the sustainability above the 16,500 level in the banking index could allow for targeting the previous peak of 16,850.

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