Istanbul
Global markets were mixed on Wednesday ahead of the release of US inflation data, turning their eyes to future statements from Fed Chairman Jerome Powell after banks said they were not in a hurry to adjust their monetary policy yet. I did.
US President Donald Trump’s policy decision supplies concerns of an already intense trade war after already giving executive orders to put tariffs on major US trade partners, 25% tariffs on steel and aluminum imports This has affected the direction of the global market.
Despite the Fed’s major advances in fighting inflation, concerns that Trump’s decision could trigger inflationary pressure could narrow bank policy space and further complicate price estimations is.
Powell said the US economy is generally strong and has made great strides to achieve banking goals over the past two years, speaking at the Senate Banking, Housing and Urban Affairs Committee on Tuesday, with inflation rates being long It points out that it is close to. The target for a period of 2% is still high.
He stressed that the Federal Open Market Committee has reduced the policy rate by 100 basis points since September 2024, and that the decision is appropriate for already made progress in labor market inflation and cooling. I stated.
“Our policy stance is far less restrictive than ever and the economy remains strong so there is no need to rush to adjust policy stance,” he said.
Meanwhile, Cleveland Industry President Beth Hammack said the inflation rate is high and the rate is unlikely to be reduced for some time because there is too much risk of the inflation outlook. of the Trump administration’s policies.
New York President John Williams said the US’s true gross domestic product growth will be around 2% between 2025 and 26, due to potential economic, trade, immigration and other regulatory policies. It points out that the economic outlook is extremely uncertain.
At the same time, American steel companies’ shares imposed a 25% tariff on steel and aluminum imports after Trump’s executive order. Steel Dynamics stocks rose to 1.5%, Nucor 0.4%, Century Aluminium 5.6% and Alcoa 0.7%, but Cleveland Cliff shares fell 4.6% on Tuesday despite Monday’s gains.
US 10-year futures bonds rose to 4.55%, while the US dollar index rose to 0.1% to 108.
As for gold, it reached $2,943 on Tuesday, falling from the figure, balancing $2,898, a 0.4% decline, after breaking consecutive records amid global uncertainty and concerns over the trade war. Ta.
Brent crude fell 0.3% per barrel at the same time to $76.5.
On the New York Stock Exchange, the Dow Jones rose 0.28%, the Nasdaq fell 0.36%, and the S&P 500 remained on the horizontal course. American Index Futures began on Wednesday with a mixed course.
Meanwhile, positive courses have come to the forefront in Europe. EU Commission Chairman Ursula von der Leyen has announced that US steel and aluminum tariffs will not be answered.
“Taxes are taxes, which are worse for business and for consumers,” she said in a statement, saying that these tariffs are “solid and proportional measures” to protect the economic interests of the EU. He said it meets the
The first contact between the EU and the Trump administration took place in Paris on Monday and Tuesday at the Artificial Intelligence (AI) Action Summit, during which von der Reyen and US Vice President JD Vance held a meeting.
At the same time, Germany recorded a trade surplus of 70 billion euros ($72.5 billion) in the US in 2024.
On Tuesday, the DAX 40 began with 0.58%, FTSE 100 0.11%, FTSE MIB 30 0.81% and CAC 40 0.28% on Tuesday with mixed courses.
As for Asia, the courses that were purchased more, except for China, stood out.
The South Korean government said it would retaliate against Trump’s steel and aluminum tariffs.
South Korean foreman President Choi Sang-mok said on Tuesday that Seoul will respond to “prepared measures” against Trump’s tariffs.
Japanese Economic Minister Yoji Muchio said Tokyo demanded Washington to exempt Japan from tariffs on steel and aluminum.
Bank of Japan Governor Huada said the impact of Trump’s trade policy needs to be comprehensively assessed before it can be included in the economic forecast.
Meanwhile, after the Deepseek AI model reached prominence, China’s high-tech market has raised renewed interest, offering performance outweighed Western rivals at much lower costs.
Analysts say the positive impact of Deepseek’s breakthrough is felt by Chinese tech stocks, possibly leading to a global revaluation of Chinese companies.
At the same time, Nikkei 225 won the Kospi Index 0.1% with a 0.2% Hang Seng index 1.6%, but Shanghai’s composite index remained flat.
In Türkiye, the Bist 100 rose 0.38 points to 9,882.79 points on Tuesday.
The US Dollar/Turkey LIRA exchange rate rose 0.1% on Tuesday to 36.0440, currently trading at 36.0420 on Wednesday’s horizontal course.
Analysts note that levels 9,800 and 9,750 are supported, with 9,950 and 10,000 in the BIST 100 resistance position.
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