The Dollar/TL is trading at the level of 33.65.

The USD/TRY started the day with a gain and is currently trading at 33.6525, an increase of 0.20% compared to the previous closing. At the same time, the EUR/TRY is trading at 37.1679, up 0.50%, and the GBP/TRY is trading at 43.2416, up 0.30%. The dollar index is currently at 102.6, just below the previous closing level.

Signals from global data releases are strengthening positive expectations for the future. Yesterday, the Consumer Price Index (CPI) in the US increased by 0.2% on a monthly basis in July, in line with expectations, and by 2.9% on an annual basis, below estimates. The annual inflation, which has been slowing down for the fourth consecutive month, reached its lowest level since March 2021.

Analysts noted that the inflation in the country indicates progress towards the Federal Reserve's target of 2%, allowing the central bank to focus more on its other goal of maximizing employment. Although expectations of a 50 basis point rate cut by the Fed in September weakened after these developments, pricing for a 100 basis point rate cut by the end of the year remained strong.

As inflation concerns eased, the US 10-year Treasury yield continued its downward trend for the fourth consecutive trading day, currently at 3.84%, and the dollar index stabilized at 102.6.

Analysts pointed out that retail sales and industrial production data will be followed in the US today, and from a technical perspective, 103 is the resistance level and 102 is the support level for the dollar index.