Mon. Dec 6th, 2021

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    The upward trend in oil prices gained momentum after the Saudi Arabian Ministry of Energy announced that attacks were carried out on the “Port of Ras Tanura” and Saudi Aramco facilities, one of the world’s largest ports in terms of oil shipment. The price per barrel of Brent oil, which rose by 8 percent to $ 69.4 last week, reached its highest level since January 2020 with $ 71.1 after the attacks in Saudi Arabia.

    Asia due to the increased risk perception While a sellers trend was observed in the stock exchanges, the futures contracts of the main indices of the USA and Europe decreased by up to 1 percent. The price of an ounce of gold gained 0.4 percent, reaching $ 1,708. The US $ 1.9 trillion economic support package, which has been on the agenda in global markets for months, was accepted by the Senate at the weekend.

    The said bill was accepted by 49 to 50 votes in the Senate General Assembly. The draft, which was opened with the introduction of a legal arrangement called “compromise”, was passed by the Senate without needing the support of Republicans. The bill will be submitted to Biden for signature if it is accepted while it is sent to the House of Representatives due to the regulations made on it. The bill, which is described as the largest package that the Biden administration has worked on against the economic effects of Covid-19, includes a cash aid of $ 1400 per person, as well as $ 350 billion for states and local governments. The unemployment benefit, which was previously determined as 400 dollars per week, is expected to be provided as 300 dollars after the negotiations and to be extended until September 6.

    On the last trading day of the last week, the optimism regarding the support package and the announced employment report, After pointing out that the labor market is maintaining its strength, a positive course was observed in the New York stock market. Dow Jones index gained 1.85 percent, S&P 500 index gained 1.95 percent and Nasdaq index gained 1.55 percent. On Friday, European share markets ended the day with a decline. The DAX index fell 0.97 percent in Germany, the CAC 40 index fell 0.82 percent in France, and the FTSE 100 index fell 0.31 percent in the UK.

    The euro / dollar parity was 0.5 percent. decreased to 1.1894. The pair is trading sideways around 1.19 at the opening of the new week.
    Today, the current account balance announced in Japan was significantly below the estimates with 647 billion yen. Close to the close, Nikkei 225 index fell 0.60 percent in Japan, Shanghai composite index fell 1.1 percent in China and Kospi index lost 0.8 percent in South Korea.

    BIST 100 index in Borsa Istanbul increased by 4.80 percent on a weekly basis. The BIST 100 index, which tested over 1,550 points that analysts call resistance during the week, completed the day at 1,541.98 points on Friday, with an increase of 0.26 percent compared to the previous day’s closing. In parallel with the appreciated dollar in the international market, the dollar / TL, which increased by 1.3 percent compared to the previous week’s closing, is trading at the level of 7,5450 at the opening of the interbank market today.

    Stating that the data on wholesale stocks in the USA will be followed, in the rest of the week; In addition to the course of the bond market, the growth in the Eurozone tomorrow, inflation in the USA on Wednesday, the interest rate decision of the ECB on Thursday, and industrial production data in the UK and the Eurozone on Friday stand out, he said. In the country; analysts stated that Wednesday labor statistics, Thursday current account balance and Friday industrial production data will be monitored, and technically, 1.550 and 1.570 levels in the BIST 100 index are in resistance and 1.505 points are in support.