Dollar trading at 29.12 level

Moving with an upward trend yesterday, the dollar/TL exchange rate closed the day at 28.0935, an increase of 0.1 percent.

The dollar/TL, having started the new day with gains, is trading at 29.1160 as of 10:30, up 0.1 percent. At the same time, the euro/TL is being sold at 31.9050 with a 0.2 percent decrease, and the sterling/TL is at 36.8890 with a 0.4 percent drop.

The dollar index, which closed the day yesterday at the 102.2 level with a 0.4 percent decrease, is currently at the 102.3 level, up 0.1 percent.

Analysts stated that pricing regarding the possibility of the US Federal Reserve (Fed) starting interest rate cuts by May at the latest next year, and the strengthening of the "soft landing" probability, are impacting asset prices.

Stating that concerns regarding the possibility of world economies remaining trapped between inflation and recession are gradually moving out of pricing, analysts noted that the downward trend observed in inflation continues to create room for the Fed.

In pricing within money markets, while it is considered certain that the Fed will keep interest rates steady at its first meeting next year, the probability of the bank starting interest rate cuts in March has risen to 76 percent.

On the other hand, the US 10-year bond yield is hovering near its lowest level in approximately the last 5 months at 3.89 percent.

Analysts noted that the domestic data agenda is quiet today, while abroad, a busy data agenda, primarily the CB consumer confidence index in the US, will be monitored, and recorded that technically, the 102 and 101 point levels are support, and 103 and 104 points are resistance for the dollar index.