Navigating the complex world of global markets: Breaking news
The economic and trade policies being pursued by US President Donald Trump under the “American” policy continue to cause uncertainty on a global scale. White House spokesman Karoline Leavitt announced that tariffs would come into effect immediately, stating that “April 2, 2025, will go down as one of the most significant days in modern American history.”
Analysts have noted that these developments are making pricing difficult, and investors are closely monitoring the news flow related to Trump’s policies. While Federal Reserve (FED) officials are also being closely followed, Chicago Fed President Austan Goolsbee has warned that the extensive tariffs proposed by Trump could lead to inflation or economic slowdown.
Goolsbee pointed out that while imports make up only 11 percent of the US economy, the impact of tariffs on overall prices may be limited. However, he emphasized that if tariffs increase production costs or create economic uncertainty among consumers and businesses, the risks could be greater.
On the macroeconomic data front, the Purchasing Managers Index (PMI) for the US Industrial Production from the Institute for Supply Management (ISM) dropped to 49 in March, indicating contraction in the sector. Additionally, the number of job openings in the country declined to 7.568 million in February, falling below expectations.
Trump’s tariff measures and the FED’s monetary policy uncertainties have led to a 4.16 percent decrease in the US 10-year bond interest rate over the past three trading days, rising to 4.20 percent yesterday. Global risks and central bank purchases have supported the price of gold, which tested $3,149 per ounce yesterday.
In Europe, stock exchanges saw a positive trend yesterday, with attention focused on Trump’s tariffs and comments from European Central Bank (ECB) President Christine Lagarde. European Union (EU) Commission President Ursula von Der Leyen stated that they are ready to retaliate strongly against US tariffs.
In Asia, market movements have been mixed, with concerns about the impact of Trump’s tariffs on regional markets. Central Bank of Japan (BOJ) President Kazuo Ueda warned about the potential global impact of US tariff policies and expressed a desire to discuss these effects at the upcoming G20 Finance Ministers meeting in Washington.
On the domestic front, the BIST 100 index in Borsa Istanbul closed the last trading day before Ramadan Feast with a 0.49 percent gain. The dollar/TL exchange rate remained stable yesterday and is currently trading just above the opening level in the interbank market.
Analysts are closely monitoring key economic indicators in Turkey and abroad, including the manufacturing industry PMI, US Private Sector Employment, and ECB President Lagarde’s remarks. The BIST 100 index is expected to find support at 9,600 and 9,500 points, with resistance at 9,750 and 9,850 levels.
