The Dollar/TL started the day with an increase.

The USD/TRY started the day with gains and is currently trading at 32.9730, up 0.4% at 09:20. The EUR/TRY is trading just above the previous closing at 35.2530, and the GBP/TRY is up 0.2% at 41.6960. The USD index is currently at 106.0, up 0.2%.

CAUTIOUS TRADING OBSERVED DUE TO MIXED SIGNALS FROM US DATA RELEASED YESTERDAY

Global markets are cautiously observing a mixed trend due to the mixed signals from the US data released yesterday. Today, investors are focusing on the core personal consumption expenditures (PCE) price index, which is the inflation indicator used by the Federal Reserve (Fed). Clues about the Fed's future steps are still being sought, while yesterday's busy data agenda and statements from Fed officials were closely followed.

70% CHANCE OF FED CUTTING RATES IN SEPTEMBER

Analysts noted that the data indicating a slowdown in economic growth compared to the previous quarter has strengthened investors' expectations of a rate cut this year. They also mentioned that today's data releases could increase volatility in the markets. Following these developments, the market is pricing in a 70% chance of a rate cut in September and a 95% chance in November. The possibility of a second rate cut in the December meeting is currently priced at 75%.