ECB Meeting Fulfilled the Expectations As expected, the European Central Bank (ECB) increased interest rates by 75 basis points, raising the policy rate to 2%. The ECB caught up with the Fed in this regard by increasing interest rates by 75 basis points last month. In its statement, the ECB stated that it would continue […]

Dollar Index Drops to 4-Week Low… Data from the US on Tuesday revealed that housing prices fell faster than expected in August and consumer confidence deteriorated in October. While this data is not very market mover, it seems to be an excuse for investors to support the expectations of a less aggressive Fed policy tightening […]

Germany IFO Business Climate Survey: German Economy to Contract in the Fourth Quarter… According to the data announced by the CBRT, the real sector (manufacturing) confidence index increased by 0.4 points compared to the previous month and became 100.3 in October. When the diffusion indices of the survey questions that make up the index are […]

Leading Manufacturing and Services PMI Figures in the Euro Zone and the UK Indicate the Deepening of the Contraction in the Sectors… In the Eurozone and Germany, the largest economic power in the region, the leading S&P Global Manufacturing and services PMI surveys in October indicated that the situation in both sectors worsened and the […]

Fitch “Rising Interest Rates and Strong Dollar Hit the World Economy” Retail Sales in the UK, which we follow today, decreased more than expected and came in at -1.4% monthly and -6.9% year on year. Data was expected to decrease by -0.5% monthly and -5.0% annually. Core Retail Sales decreased by 1.5% and 6.2%, respectively. […]

CBRT Lowered Interest Rate More Than Expected… In his statement after the USDJPY parity rose to the level of 150.08, Japanese Finance Minister said that they would not tolerate speculative movements, that they would continue to monitor exchange rate movements carefully, and that they would take action against speculative, extreme and sudden movements. Deputy Minister […]

Euro Zone, UK and Canada Inflation Figures Followed… Inflation rates in the UK, which we follow today, increased above expectations. Consumer Price Index (CPI) came in at 0.5% monthly and 10.1% annually. After this increase, the Consumer Price Index reached its highest level in the last 40 years on an annual basis. Inflation in the […]

ECB Member Herodotou “Absolutely Need to Raise Interest Rates” Zew Economic Confidence for October in Germany and the Euro Zone came in above expectations in the Index announced today. The index came in at -59.2 in Germany and -59.7 in the Eurozone. The data was estimated to come in at -65.7 and -61.2, respectively. In […]

FED Manufacturing Index Shrinks in the USA… In his speech today, European Central Bank (ECB) Member Rehn said that they know that inflation is very high and that they should act accordingly by tightening their monetary policy. Another ECB Member, Nagel, said that interest rate hikes should continue after October and that inflation has upside […]

Trends in the Market Continue… In the inflation figures announced in the morning on the Chinese side, the CPI data was 0.3% monthly and 2.8% annually, while the PPI side was announced as 0.9%. While there was an increase in CPI on the annual side, there was a decrease in PPI.  European Central Bank President […]