03.04.2025 10:01
The USD/TRY started the day trading at a level of 37.9140, below the previous closing. Following the United States' protectionist trade policies, selling pressure is affecting the markets. Today, domestic inflation data will be monitored.
The dollar/TL is trading at 37.9140 after starting the day with a decline. Yesterday, the dollar/TL, which remained stable, closed just below the previous closing at 37.9470. As of 09:20 today, the dollar/TL is trading at 37.9140, down 0.1%. At the same time, the euro/TL is being sold at 41.5910, up 1%, and the pound/TL is trading at 49.6290, up 0.8%. The dollar index is at 102.8, down 0.5%.
LOWEST TARIFF RATE IS 10%
Following the reciprocal tariffs announced by U.S. President Donald Trump yesterday, there is selling pressure on asset prices. Concerns about the impact of the U.S. administration's protectionist trade stance on the global economy continue to be one of the significant risks worldwide. Yesterday, President Trump signed an executive order at an event held at the White House, which foresees the implementation of reciprocal tariffs against other countries.
INFLATION DATA IS CRITICAL
Under the executive order, tariffs ranging from 10% to 50% have begun to be applied to goods imported from many of the U.S.'s trading partners. Analysts stated that today, domestic inflation, as well as the global services sector Purchasing Managers' Index (PMI) data, the Producer Price Index (PPI) in the Eurozone, the European Central Bank (ECB) meeting minutes, and the U.S. trade balance along with weekly unemployment claims will be monitored. They noted that technically, the 103.5 level is seen as support and 102 as resistance for the dollar index.