28.01.2025 12:31
The dollar/TL started the day with an increase, trading at a level of 35.7610. While the interest rate decision from the U.S. Federal Reserve is eagerly awaited today, investors are focused on the statements of Fed Chairman Jerome Powell. Additionally, the artificial intelligence model from the China-based company DeepSeek and its potential effects on the markets in the U.S. are being discussed.
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The dollar/TL is trading at 35.7610 after starting the day with an increase. Yesterday, the dollar/TL, which was on an upward trend, closed the day at 35.7390, 0.2% above the previous close. As of 09:30, the dollar/TL is trading at 35.7610, up 0.1%. At the same time, the euro/TL is trading at 37.3750, down 0.4%, and the pound/TL is selling at 44.5160, also down 0.4%. The dollar index is at 107.8, up 0.5%.
TRUMP ANNOUNCED THAT HE VIEWED CHINA'S MOVE POSITIVELY
Concerns that the dominance of American companies in the field may be disrupted following the launch of an artificial intelligence model developed by China's DeepSeek at a lower cost and in a shorter time than its competitors are affecting asset prices. U.S. President Donald Trump expressed that he viewed the latest artificial intelligence model launched by China's DeepSeek positively, stating that it should be a "wake-up call" for the American industry.
Pointing out that the Chinese company has developed a much faster and more cost-effective artificial intelligence model in recent days, Trump said, "This is a good thing because you don't have to spend so much money."
FED IS IN THE SPOTLIGHT OF INVESTORS
Meanwhile, the interest rate decision to be announced by the U.S. Federal Reserve (Fed) tomorrow is in the spotlight of investors, and clues regarding the bank's projections will be sought in the statements to be made by Fed Chairman Jerome Powell after the decision.
In the pricing of money markets, it is almost certain that the Fed will keep the policy rate unchanged at its first monetary policy meeting of the year, while the bank is expected to make its first interest rate cut of the year in May with a 59% probability. Additionally, Scott Bessent, an investor and hedge fund manager nominated by Trump, has become the Treasury Secretary after receiving Senate approval. The nomination of investor and hedge fund manager Bessent to the Treasury Secretary position has been viewed positively for the country's economy and markets. Analysts noted that today, domestic sectoral inflation expectations and, abroad, durable goods orders in the U.S. and the New York Fed consumer confidence index will be monitored, stating that technically, the 107.5 level in the dollar index stands out as support, while the 108.5 level is seen as resistance.
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