Positive opening in VIOP ahead of interest rate decision

The June-term contract based on the BIST 30 index at Borsa Istanbul opened Thursday morning at 10,325.00 points, up 0.3 percent from the previous close. In the market where selling pressure was effective yesterday, the index contract completed the normal session at 10,295.00 points, down 1.7 percent. In the evening session, some of the losses were recovered, reaching 10,346.00 points.

In today's opening session, the contract traded at 10,325.00 points, showing a 0.3 percent increase compared to the previous normal session close.

Global markets are following a volatile course as the US Federal Reserve (Fed) kept its policy rate unchanged in line with expectations and signaled that it would not be hasty regarding interest rate cuts. These developments have also had an impact on domestic markets.

All eyes are now on the interest rate decision to be announced by the Central Bank of the Republic of Turkey (TCMB) today. According to the AA Finance survey attended by economists, the TCMB is expected to keep the policy rate unchanged at 46 percent. The median of policy rate expectations for the end of the year stands at 35.50 percent.

Analysts state that a busy data agenda will be followed both domestically and internationally. From a technical perspective, the 10,500 and 10,600 point levels stand out as resistance for the index contract, while the 10,300 and 10,200 point levels stand out as support.

News Source: 12punto