The last trading day of the week started at 34.15 TL for the dollar. The euro started at 38.02 TL. The markets will be closed tomorrow due to Victory Day.
The exchange rate gained 0.61 percent in 3 days this week. The appreciation is thought to be due to the locals’ demand for foreign exchange. In a survey conducted by the Central Bank of Turkey in recent days, the real sector’s inflation expectation for the next 12 months decreased by 1.2 points, while households’ inflation expectations increased by 1.1 points. Households’ inflation expectations increase foreign exchange demand. Last week’s figures will be announced today at 14:00.
The figures announced yesterday showed that the foreign trade deficit decreased by 41.8 percent in July. Treasury and Finance Minister Mehmet Şimşek, who evaluated the foreign trade figures, said, “We have made significant progress in reducing the current account deficit.” Vice President Cevdet Yılmaz said, “Risks, especially the current account deficit, are decreasing.”
Nvidia’s balance sheet, which the markets follow to show whether the artificial intelligence wind continues, was announced yesterday. Nvidia’s 3-month income was announced as 30 billion, above expectations of 28.7 billion dollars. This indicates an annual increase of 112 percent. However, the announced figures did not meet investors’ high expectations and the shares fell by 8 percent in after-hours transactions!
Nvidia expects revenue of $32.5 billion this quarter.
Today, US unemployment benefit applications and growth figures will be followed abroad.
