Eyes on Powell's speech: Focus will be on policy messages

Global markets focused on the messages that the FED President Powell will keep the policy loose in his statement to be made today. While the pressure of the increase in US bond yields is felt in stocks, there are significant sales. The dollar / TL, which has been in a volatile course in recent days, tested over 7.45 today

Eyes on Powell's speech: Focus will be on policy messages

In global markets, Fed Chairman Jerome Powell's speech is among the most important agenda items of the day. It was noted that Fed Chairman Jerome Powell, who will speak at the event to be organized by the Wall Street Journal, is expected to give the message that the bank will be very patient with its loose monetary policy. In his speech today, Fed President Jerome Powell will try to calm the concerns in the bond markets recently.

Experts are expected to focus on the message that the monetary policy will remain slack for a long time rather than evaluating the increase in long-term bond yields, experts say. The president is also envisioned to convey the message that he wants to avoid irregularities in the bond market like last week.

JPMorgan US Chief Economist Michael Feroli said, "There is a desire to keep interest rates in line with the Fed's targets rather than an effort to cool the market."

USD / TL surpassed 7.45 with pressure from US bond interest
While the USD / TL has fluctuated between 6.90-7.4915 in the last few weeks, the exchange rate is under pressure again towards 7.5, with the US bond yields rising from 1.4 percent to 1.5 percent again.

The dollar / TL, which moved above 7.40 yesterday towards the closing of the markets and closed just below 7.45, starts the new day at similar levels. The euro / TL, which tested over 9 lira once again yesterday, is valued at the levels of 8.99-9.00 this morning.

Strong sales in global markets
The re-emerging concerns about the rise in US Treasury bond yields led to sales in the global stock market. After the fall in the US stock markets, there are also rapid decreases in the Asian stock markets. In Japan, the fall in the Nikkei index reached 2.3 percent, while Shanghai in China fell 1.6 percent and the Hong Kong Hang Seng Index fell 2.5 percent. US futures also indicate a decline of around 0.8 percent.

Nasdaq 100 futures index hits 2-month low
After the decline in Wall Street yesterday, the weight of technology stocks and selling pressure is felt in futures indices today.

Nasdaq 100 futures index saw the lowest level of the last 2 months with 12511.25 points today. Due to the ongoing pressure on stock markets this morning due to the increase in the US long-term Treasury paper yield to 1.4791 percent, the futures Dow Jones Industrial Index
150 points, 0.48 percent, S&P 500 futures index 26.5 points, 0.69 percent and Nasdaq 100 futures index 120.50 points, 0.95 percent negative.