How did the index contract start the day in VIOP? (March 12, 2024)

The April-dated index contract traded at 10,199.25 in the opening session, 0.1 percent below the previous normal session close.

Yesterday, the index contract followed a volatile course and completed the normal session at 10,205.00 points, 0.3 percent below its previous close. The index contract also moved in a downward trend in the evening session, falling 0.2 percent to 10,190.00 points.

Analysts stated that global equity markets are following a cautious course ahead of the inflation data to be announced in the US today, and that uncertainties regarding when the US Federal Reserve (Fed) will begin interest rate cuts continue.

While the US Consumer Price Index (CPI) is expected to rise by 0.4 percent monthly and 3.1 percent annually in February, it is estimated that this data could increase volatility in asset prices.

Analysts noted that balance of payments and industrial production data will be monitored domestically today, while inflation in Germany, the unemployment rate in the UK, and inflation data in the US will be followed abroad, adding that technically, the 10,100 and 10,000 levels are support, and 10,200 and 10,300 points are resistance for the index contract.

On the other hand, economists participating in the AA Finance Balance of Payments Expectation Survey estimate that the current account deficit was 2 billion 460 million dollars in January. Economists expect the current account deficit to be 30 billion 611 million dollars in 2024.