BIST 30 Futures Open with 0.3% Decline
The Istanbul Stock Exchange Futures and Options Market (VIOP) started the week with a decline in August futures contracts based on the BIST 30 index, opening at 12,175.50 points, down by 0.3%.
On Friday, the index contract ended the regular session with a 0.06% decrease, closing at 12,218.50 points. During the evening session, the index contract traded flat.
Global Market Insights
Analysts note that global equity markets began the week on a positive note, driven by upcoming monetary policy decisions from central banks in the US, Japan, and the UK, along with a busy macroeconomic data calendar. As the fight against global inflation nears its end, this week’s meetings are expected to provide insights into the future direction of these central banks’ policies.
In the US, economic activity has shown resilience, with inflationary pressures easing. This has bolstered the “soft landing” scenario, boosting risk appetite among investors. The Federal Reserve is widely expected to maintain its policy rate at 5.25-5.50% for the last time on Wednesday. Signals from the policy statement, economic projections, and remarks from Fed Chair Jerome Powell will be crucial in determining the direction of asset prices.
Market pricing suggests the Fed might cut rates three times by the end of the year. Additionally, the employment report due on Friday could reduce uncertainty regarding the Fed’s rate-cutting plans.
Source: Trthaber / Prepared by Irem Yildiz