VIOP Index Opens Week with 0.2% Increase, Reaching 11,644.00 Points for June Futures Contract

The contract based on the BIST 30 index for June maturity at the Borsa Istanbul Futures and Options Market (VIOP) started the week at 11,644.00 points with an increase of 0.2%.

The June futures index contract was traded at 11,644.00 in the opening session, 0.2% above the previous normal session closing.

The index contract, which followed a selling trend on Friday, completed the normal session at 11,628.00 points, 1.6% below its previous closing. The index contract remained horizontal in the evening session.

In global markets, investors seem to maintain their cautious stance due to uncertainties regarding the future policies of the US Federal Reserve (Fed), while the inflation data to be announced in the US on Wednesday is expected to increase volatility in the markets.

After the uncertainties regarding the Turkish economy eased on Friday, and following the statements made by the Governor of the Central Bank of the Republic of Turkiye (CBRT), Fatih Karahan, during the presentation of the year’s second Inflation Report, Turkiye’s 5-year credit default swap (CDS) continued to improve, with Turkiye’s CDS falling to 273.75 basis points for the first time since February 2020.

Today, all eyes are focused on the savings efficiency package to be announced by Treasury and Finance Minister Mehmet Simsek and Vice President Cevdet Yilmaz.

On the other hand, while the March balance of payments statistics to be announced today are in the focus of investors, economists participating in AA Finance’s expectation survey estimated that the current account had a deficit of $3 billion 837 million in March.

Analysts stated that retail sales in the country and balance of payments data in Germany will be followed today, and noted that technically, 11,600 and 11,500 points in the index contract are support, and 11,700 and 11,800 levels are resistance.

Source: / Prepared by Irem Yildiz

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