03.02.2025 14:30
The decision of the Donald Trump administration in the U.S. to increase tariffs on Canada, China, and Mexico has been one of the factors that boosted the dollar against foreign currencies. In the free market, the dollar has risen above the 36 level for the first time. The euro is trading at a level of 36.90.
The Dollar/TL has seen levels above 36 for the first time. The dollar reached a new peak at 36.0015 lira due to the impact of global risk aversion strengthened by concerns over trade wars. The Euro/TL is trading at 36.90, influenced by the decline in the euro/dollar parity.
According to TÜİK data, inflation rose to 5.03% in January, exceeding expectations, while annual inflation stood at 42.12%. Monthly inflation in January reached its highest level in 11 months, while annual inflation fell to its lowest level in 1.5 years.
EYES ON THE INFLATION REPORT
The Central Bank's year-end inflation forecast midpoint is at 21%. The market will watch for possible updates to the 21% forecast in the first inflation report of the year, which will be held in Istanbul on Friday.
TRUMP'S TAX DECISION BENEFITED THE DOLLAR
Donald Trump kept his promise to impose a 25% additional tariff on Canada and Mexico, and a 10% tariff on China. The implementation of additional tariffs by U.S. President Donald Trump on Canada, Mexico, and China has raised fears that trade wars could spread and slow down global economic growth.