While Dollar/TL started Wednesday at 48.29 TL in a calm course, Euro started at 55.94 TL. Strengthening oil and dollar were effective in the decline of the Euro from yesterday’s levels.
The USA and Iran started mutual attacks again. The USA carried out attacks against the south of Iran. Retaliation came from Iran against US bases. Iran emphasized that the US’s renewed attacks have tightened the lock on the Strait of Hormuz and that they will continue retaliation.
After the renewed tension, oil prices rose above 95 dollars again! This marks the highest level since July 23. Rapid increases in oil prices mean negative developments for net energy importer countries such as Türkiye. This development has the potential to re-trigger fuel prices and therefore inflation through trade transportation.
Türkiye’s economy grew in the second quarter, led by household expenditures. However, household expenditures have been declining for 2 quarters. This means that the disinflation process is effective.
Istanbul inflation, which is a leading indicator of inflation, decreased to 1.66 percent monthly and 34.96 percent annually in August. The final inflation will be announced by TÜİK tomorrow at 10:00.
There is no important data in the markets today. Markets will monitor the tension between the USA and Iran.
