Key Data and Expectations Before the Market Opens

Fundamental Indicators at Market Opening

The flow of recent data and central bank expectations in global markets continues to be decisive for pricing. In the U.S., the non-farm payroll increase in November was 64 thousand, exceeding the 50 thousand expectations. However, the data for October was revised downwards 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 Interest Rate Policies

Fed Chairman Powell’s emphasis on employment data and the slowdown in job creation support expectations that interest rate cuts may continue in 2026. In the bond market, with this outlook, U.S. interest rates are pulling back, while the dollar index maintains its weak trend. In the Eurozone, although PMI data show a weakening 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

The global weakening of the dollar following the Fed's interest rate cuts continues to support the EUR/USD parity in the currency market. Commodity prices fluctuate in line with geopolitical developments and monetary policy expectations. Following the U.S. decisions regarding Venezuelan oil, oil prices experienced a short-term reactionary surge. In precious metals, the Fed’s easing process supports gold; the price of gold is showing a strong trend above the $4,300 level.

Asian Markets and Local Stock Exchange Developments

In Asian markets, Japan's export data exceeded expectations, while strong demand for semiconductors supports risk appetite. Increasing interest in domestic technology companies in China is also positively reflecting on stocks. In Borsa Istanbul, technical levels have dominated pricing in recent days. Breaking above the medium-term descending channel resistance at the 11,160 level has strengthened the technical outlook for the BIST 100 index. After making 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 general outlook, remaining above the 11,160 level indicates that the medium-term trend is upward. If the 11,500 level is surpassed, the historical peak of 11,605 may come into focus. In case of possible pullbacks, the 11,280–11,120 range is monitored as a short-term support zone. Additionally, a sustained position above the 16,500 level in the banking index could allow targeting the previous peak of 16,850.

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