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While global markets are experiencing a mixed trend ahead of the results of the presidential elections in the United States, according to the first ballot results, Republican candidate Donald Trump is leading the race against Democratic candidate Kamala Harris.
The results of the 60th presidential elections held in the U.S. yesterday are being closely monitored by investors.
According to the election results, changes in the U.S. economic policies are expected, and it is anticipated that this will also affect asset prices. WILL THE U.S.-CHINA WAR ESCALATE?Trump aims to implement new tariffs, particularly on Chinese goods, reduce taxes, and increase fossil fuel production if he assumes the presidency for a second time; while Harris plans to follow policies that generally continue the Joe Biden administration, such as reducing costs and taxes for middle-class Americans.
According to the initial results, as Republican candidate Trump leads the election, a significant rise in cryptocurrencies has been observed as the results begin to clarify.BITCOIN SETS A NEW RECORDAccordingly, the price of Bitcoin has surpassed $75,000, setting a new record, and is currently trading at $74,400, up 7.2% from the previous close.
Following these results, the dollar index increased by 1.1% to 104.7, and the yield on the U.S. 10-year Treasury bond rose by approximately 15 basis points to 4.44%, the highest level since the beginning of July.
Analysts noted that expectations regarding the policies Trump might pursue if elected president are reflected in asset prices, stating that volatility in the markets could increase today.FED ALSO AWAITS ELECTION RESULTSMeanwhile, the Federal Reserve's (Fed) monetary policy decisions tomorrow are also in focus for investors, with market pricing indicating a strong expectation that the Fed will cut its policy rate by 25 basis points.
Analysts predict that signals from the policy statement and Fed Chairman Jerome Powell's post-meeting remarks will significantly impact asset prices.
Gold's ounce price, which closed at $2,743.2 after gaining 0.2% yesterday, is currently trading at $2,737, slightly below the previous close.
The price of Brent crude oil closed at $75.5 after rising 0.4% yesterday, and is currently trading at $74.6, down 1.1% in the new trading day.
In the New York stock market yesterday, the Dow Jones index rose by 1.02%, the S&P 500 index by 1.23%, and the Nasdaq index by 1.43%. In the U.S., index futures started the new day with a mixed trend.
European stock markets also showed a mixed trend yesterday, with attention focused on the results of the U.S. presidential election and the interest rate decision of the Bank of England (BoE) to be announced tomorrow.
The BoE is expected to cut its policy rate by 25 basis points, lowering it from 5% to 4.75%.
With these developments, the DAX 40 index in Germany gained 0.57%, the CAC 40 index in France gained 0.48%, while the FTSE 100 index in the UK lost 0.14% and the FTSE MIB 30 index in Italy lost 0.20%. European index futures also started the new day with a mixed trend.TRUMP FEARS IN CHINAIn Asia, a mixed trend is observed in the new trading day. Concerns that Trump may impose new sanctions on China if he wins in the U.S. continue to negatively affect risk appetite, but this expectation is somewhat alleviated by the anticipation that the Chinese government will strengthen supportive measures for the economy to mitigate the effects of potential sanctions. According to the data released today in the region, Japan's services sector PMI for October came in at 49.7, above expectations, while the composite PMI in the country, which was 49.4 last month, stood at 49.6.
Near the close, Japan's Nikkei 225 index rose by 1.9%, while China's Shanghai Composite index increased by 0.2%, whereas Hong Kong's Hang Seng index fell by 2.7% and South Korea's Kospi index dropped by 0.9%. BIST ISTANBUL IN WAITING MODEIn Turkey, the BIST 100 index in Borsa Istanbul, which experienced a selling trend yesterday, closed the day down 0.52% at 8,618.57 points.
The Dollar/TL closed down 0.1% at 34.3085 yesterday, while today it is trading at 34.3280, slightly above the previous close in the interbank market.
Today, analysts note that the data agenda domestically is calm, while abroad, in addition to the results of the U.S. presidential elections, factory orders and services sector PMI in Germany, services sector PMI and Producer Price Index (PPI) in the Eurozone, and weekly mortgage applications in the U.S. will be monitored. They also stated that technically, the support levels for the BIST 100 index are at 8,600 and 8,500 points, while the resistance levels are at 8,800 and 8,900 points.
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