December index futures contract traded just below the normal session close

The December index futures contract traded at 8,438.50 in the opening session, just below the previous normal session close.

The index futures contract, which followed a bearish trend yesterday, completed the normal session at 8,439.75 points, 0.3 percent below its previous close. The index futures contract remained flat during the evening session.

While global markets are following a negative trend due to waning optimism regarding interest rate cuts by the US Federal Reserve (Fed) and investors' desire to reduce their assets before the Christmas holiday, the interest rate decision of the Central Bank of the Republic of Türkiye (CBRT) has become the focus of investors domestically today.

Analysts emphasized the importance of the guidance in the policy statement alongside the decision on the policy rate, stating that signals received from here are likely to increase volatility in asset prices.

On the other hand, economists participating in the AA Finance expectation survey regarding the CBRT Monetary Policy Committee (MPC) meeting estimate that the bank will increase the one-week repo auction interest rate (policy rate) by 250 basis points to 42.50 percent.

Stating that in addition to the CBRT interest rate decision, weekly money and bank statistics domestically, and a busy data agenda, primarily growth in the US, will be monitored abroad, analysts noted that technically, 8,400 and 8,300 points are support levels for the index futures contract, while 8,500 and 8,600 levels are in the position of resistance.

News Source: 12punto