The Dollar/TL started the day with an increase.

Yesterday, the USD/TRY, which moved horizontally, ended the day just above the previous closing at 32.5496. The USD/TRY, after starting the new day with an increase, is trading at 32.5830, which is 0.1% above the previous closing. The EUR/TRY is being sold at 35.2640 with a 0.4% increase, and the GBP/TRY is being sold at 41.5470 with a 0.2% premium.

The dollar index is currently at 105.3 with a horizontal trend. The data released in the US indicates a slowdown in economic activity, and with the signals of cooling in the labor market, the possibility of the Federal Reserve (Fed) lowering interest rates in September has had a positive impact on asset prices.

According to the data announced in the country yesterday, private sector employment increased below market expectations in June with 150,000 people. During the same period, annual wage growth also recorded the slowest pace since August 2021 with 4.9% increase. Analysts reported that despite these data signaling a cooling in inflation, the minutes of the latest Fed meeting, which were published yesterday, revealed that bank officials were expecting more evidence of a slowdown in inflation and were divided on how long interest rates should be kept high.

With these developments, the probability of the Fed lowering interest rates in September increased to 80% in the pricing of the money markets, while the probability of making the first interest rate cut in November decreased to 85%. The possibility of a second interest rate cut at the bank's December meeting is priced at 89%. Analysts stated that today the data agenda is calm abroad, and domestically, the real effective exchange rate and weekly money and banking statistics will be followed. They also noted that technically, 105 and 104 levels stand out as support, while 106 and 107 are resistance levels in the dollar index.