What is the latest on the Dollar/TL exchange rate? (Wednesday, September 25, 2024)

In the Istanbul free market, the dollar opened the day at 34.1250 Turkish Lira, and the euro at 38.2430 Turkish Lira.

In the free market, the dollar is being bought at 34.1230 Turkish Lira, and the euro at 38.2410 Turkish Lira.

Yesterday, the selling price of the dollar was 34.1110 Turkish Lira, and the selling price of the euro was 38.0940 Turkish Lira.

LATEST STATUS IN GLOBAL MARKETS

In global markets, risk appetite remains strong despite data fueling recession concerns and geopolitical risks following the start of the US Federal Reserve's (Fed) interest rate cut cycle.

While risks regarding inflation in the US economy are giving way to recession concerns, signals from economic activity and the labor market are expected to provide information on the scale of the steps the Fed will take in November and December.

Analysts stated that despite data pointing to a contraction in the manufacturing industry and expanding conflicts in the Middle East fueling risk perception, the strengthening of "soft landing" expectations with the Fed's start of the easing cycle supports risk appetite.

OUNCE GOLD BREAKS RECORD AFTER RECORD

The price of an ounce of gold, which broke records for 4 consecutive trading days, reached a historic high of 2,670.38 dollars, and is currently at the 2,658 dollar level, 0.1 percent above the previous close.

The barrel price of Brent crude oil is currently at 74.3 dollars, down 0.3 percent, after closing at 74.5 dollars with a 1.3 percent increase yesterday.

While a buying-weighted trend prevailed in European stock markets yesterday, uncertainties regarding the scale of the steps the European Central Bank (ECB) will take by the end of the year continue.

On the Asian side, a buying-weighted trend is being observed, excluding South Korea, in the new trading day, due to the impact of the economic stimulus measures announced by the People's Bank of China (PBoC) yesterday.

Data to be followed in the markets today are as follows:

10.00 Turkey, September sectoral inflation expectations

14.00 US, weekly mortgage applications

17.00 US, August new home sales

News Source: 12punto