The USD/TRY started the week with a sideways trend.

The USD/TRY started the first trading day of the week with a sideways movement and is currently trading just below the previous closing level at 33.5620 as of 10:00. At the same time, the EUR/TRY is being sold at 36.6560 with a 0.15% increase, and the GBP/TRY is being sold at 42.8635 with a 0.10% increase. The dollar index is currently at 103.1, slightly above the previous closing level.

As the concerns about a recession in the US continue to diminish, the effects can be seen on asset prices. This week, the focus of investors is on the inflation data to be announced in the US. Analysts point out that the inflation data in the country can provide clues about the future policies of the Federal Reserve (Fed) and can also have a determining effect on the direction of asset prices.

Analysts state that the Consumer Price Index (CPI) in the US is expected to increase by 0.2% monthly and 3% annually, and they note that fluctuations in asset prices may occur due to the inflation data. They also mention that today, the market will be following the consumer inflation expectations and the federal budget balance in the US. From a technical perspective, analysts highlight that 103.5 is the resistance level and 102 is the support level for the dollar index.