The dollar continues to rise against global currencies after yesterday’s strong US inflation. While Dollar/TL started the day at 45.41 TL, Euro started the day at 53.33 TL.
Inflation in the USA was 0.6 percent monthly and 3.8 percent annually in April. Inflation has reached the highest level since 2023. The increase in inflation was caused by fuel prices approaching historical peaks. This development triggered global inflation concerns that have been on the agenda for a while and led to sharp sales in global stock markets.
Borsa Istanbul lost 2.34 percent of its value, led by banking stocks. The banking index lost 3.52 percent of its value.
Inflation data also dampened the Fed’s interest rate cut hopes. This gave rise to expectations that high interest rates would continue for a while.
The DXY Index, which measures the strength of the dollar against other currencies, has reached its highest levels since the beginning of May.
Current account deficit figures will be announced today. Tomorrow, the CBRT will announce the second inflation report of 2026. The CBRT is expected to update the year-end inflation rate, which is 16 percent, upwards.
Outside, developments in the US and Iran as well as Trump’s visit to China will be followed.
