Stock market on the rise, rate at 6-month low By

© Reuters. – Global markets started the first trading day of February with a high risk appetite. While the daily increases in European and Asian stock markets approached 2%, the most important development of the day was the movement. With Reddit users collectively taking the buy position in silver, the price exceeded the $ 30 level and reached the top of 8 years. Experts point out that this rise in silver today after last week may spread to other products, but high volatility may be risky.

In the country, it reached the level of 54.40, announced today, and saw the highest post-July. Despite the restrictions, the continuation of the recovery in the sectors provided optimism about the economy.

Having experienced a post-record drop in the past week, today it started the day at 1,484 points, up 0.78%, and then tested 1,500 points. On the daily basis, the decreases on the currency front have exceeded 2% today. The rate saw the lowest level after 7 August with 7.17, after 27 August with 8.66, and after 28 July with 429.70 TL.

Despite the high risk appetite in global markets, the TL diverges positively, showing the best rise among the currencies of developing countries. Tight monetary policy, transparency and pricing of the rise in inflation are the internal factors in the appreciation of TL. High inflation began to be bought in the markets, until the center was convinced that the recent increase in inflation would continue for a few more months, that the decline towards the year-end target of 9.4% would continue, and on the contrary, additional steps could be taken from the front if necessary.

Today, it increased to 15%, which is the leading data announced by ITO. After the inflation in Istanbul, which has seen the peak of the last 17 months, it is expected to increase to 15%.

With the determination of the center’s stance against inflation, a pricing from risks to recovery supports the TL.

Author: Necdet Erginsoy

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