25.06.2025 10:41
As geopolitical tensions in the Middle East decrease, it is affecting asset pricing, while the dollar and euro started the day with an increase. Statements from Federal Reserve Chairman Powell regarding a potential easing of monetary policy are also in the spotlight for investors.
The dollar/TL is trading at 39.68 after starting the day with an increase.
Yesterday, the dollar/TL moved sideways, closing just below the previous closing at 39.6010. As of 10:30 today, the dollar/TL is trading at 39.68. At the same time, the euro/TL is being sold at 46.08, and the pound/TL is trading at 54.0190, which is 0.1% above its previous closing. The dollar index is at 97.9, in line with the previous closing.
EYES ON THE FED
As geopolitical tensions in the Middle East ease, they are affecting asset pricing, while statements from Federal Reserve (Fed) Chairman Jerome Powell regarding monetary policy easing are in the spotlight for investors. In a speech yesterday before the U.S. House of Representatives Financial Services Committee, Fed Chairman Powell stated that inflation has not come in as strong as they expected, and if this situation continues, it would necessitate an earlier interest rate cut.
Today, Fed Chairman Powell will present to the U.S. Senate Banking, Housing, and Urban Affairs Committee. While questions remain regarding key macroeconomic indicators such as inflation and growth worldwide, the establishment of a ceasefire in the Israel-Iran conflict has helped to ease geopolitical risks.
DISCUSSION OF PULLING THE INTEREST RATE CUT TO JULY
Analysts note that market pricing indicates a strong expectation that the Fed will make its first interest rate cut in September, but they also mentioned that if there is an unexpected cooling in the labor market in the employment data to be monitored in the coming weeks, the possibility of pulling the first interest rate cut to July is on the table.
Today, domestic sectoral inflation expectations will be monitored, while abroad, in addition to Fed Chairman Powell's statements, new home sales in the U.S. will also be followed.