British News Agency

As we enter the last two trading days of the week, the agenda in the markets is intensifying significantly. In this context, the Central Bank of the Republic of Turkey (CBRT) will release the summaries of the September MPC meeting, where it raised the policy rate by 500 basis points to 30% last week. On the macroeconomic data front, the Turkish Statistical Institute (TÜİK) will announce the Economic Confidence Index for September. The composite index, composed of various confidence indices, had decreased by 5.2% to a value of 94.1 in August compared to the previous month.

In the Eurozone, consumer confidence and the preliminary Consumer Price Index (CPI) data for Germany take the lead, while in the US, the most important data point is the second-quarter GDP growth figure. It is expected that this data, on an annualized basis, will be revised from 2.1% to 2.2%. However, given that this is the final revision, the impact may be limited. It is worth noting that the GDP growth figures for the third quarter, to be announced next month, are of greater significance for the markets.

Following the disappointing new home sales figures that raised questions about the health of the economy and were released earlier this week, pending home sales in the US are also among the key data releases of the day. Additionally, as is the case every Thursday, we will be tracking the weekly jobless claims figures. While uncertainties about the Federal Reserve's monetary policy for the remainder of the year persist, Federal Reserve Chairman Powell will participate in a conference and deliver a speech today at 23:00 GMT. It is unclear to what extent the Fed Chair will touch upon monetary policy, but his messages will be closely monitored as always.

TRY: The USD/TRY exchange rate, which continues its slight upward trend, is starting to test above 27.30 for the Turkish Lira. In terms of the Turkish Lira, the most important agenda of the day is the summaries of the MPC meeting in September, where the CBRT raised the policy rate by 500 basis points to 30% last week. As you may recall, the post-meeting statement signaled the possibility of further rate hikes and stated that selective credit and quantitative tightening measures would support the tight monetary policy stance. Therefore, within the scope of this assessment, we will monitor whether more details will be provided in the summaries.

Borsa İstanbul: The BIST-100 index, which started the week on a very strong footing, lost momentum as it approached the 8400 level. Foreign fragility, in particular, acts as a factor limiting further momentum. Although not very successful, we see that the index is trying not to move further away from the resistance zone. At this point, we can say that 8400's importance continues to be maintained in the short term. We maintain our view that closing above this level is necessary for a stronger trend to form. Remaining below this level could lead to increasing pressure.

BIST-30 NEAREST FUTURES VİOP CONTRACT

In the BIST-30 contracts, which closed the day at 8843.5, 8782, 8711, 8649, and 8579 can be followed as support levels. 8906, 8977, 9039, and 9109 constitute the resistance levels.

USD/TRY NEAREST FUTURES VİOP CONTRACT

In the USD/TRY futures contracts, which closed the day at 27.3949, 27.203, 26.984, 26.792, and 26.573 can be followed as support levels. 27.5865, 27.806, 27.9975, and 28.2165 constitute the resistance levels.

Source: ÜnlüCo