The number of people killed in the outbreak of Kovid-19 in the US state of New York reached 1550, according to the latest update, the number of positive cases across the US rose 24,245 per 12 hours. According to John Hopkins University records, the number of Kovid-19 cases worldwide was updated to 858 thousand 785, while the number of people who died from the virus rose to 42 thousand 151.
These developments regarding the epidemic cause the risks related to economic activity to continue despite the precautions and supportive steps taken as well as social concerns.
“I want US citizens to prepare for the tough days ahead. We have two very difficult weeks ahead,” US President Donald Trump said yesterday, regarding the Kovid-19 outbreak. After using expressions, there were decreases in the New York stock market.
Yesterday, Dow Jones index fell 1.84 percent, S&P 500 index fell 1.60 percent and Nasdaq index fell 0.95 percent. Thus, US stock markets completed March with an average of 10 percent decrease.
Analysts pointed out that the Dow Jones index fell 23.2 percent in the first quarter of the year, indicating that this is the worst performance since 1987 on a quarterly basis.
On the European side, it was observed that the risk appetite, which increased on the previous day, continued on the stock markets that closed before the sales in the US markets yesterday. Yesterday, DAX index gained 1.22 percent in Germany, FTSE 100 index 1.95 percent in England and CAC 40 index in France gained 0.40 percent.
With the increase in the number of cases in the epidemic, a new one is added to the measures taken by governments and central banks every day. In its statement yesterday, the European Banking Authority (EBA) called on the banks in the European Union to be “restrained” in giving premiums to its employees to protect their capital due to the Kovid-19 outbreak and to support the European economies hit by the epidemic.
According to the data announced today, the manufacturing industry PMI signaled expansion in China, albeit limited to 50.1, while it was flat in the contraction zone with 44.8 in Japan. After the data, a mixed trend is observed in Asian exchanges close to closing.
In China, Shanghai composite index gained 0.1 percent, while Nikkei 225 index fell 4 percent in Japan and Kospi index 2 percent in South Korea.
The BIST 100 index, which followed a positive course in parallel with the European stock markets yesterday, completed the day at 89,643.71 points with an increase of 1.80 percent. Despite yesterday’s rise, the index fell 15.4 percent in March and 21.7 percent in the first quarter. The dollar / TL, which closed yesterday at 6.6071 with an increase of 0.5 percent, is trading at the level of 6.6220 at the opening of the interbank market today.
Analysts stated that in the manufacturing industry PMI data to be announced worldwide, the effects of the epidemic on economic activity will be sought, and the news flow related to the epidemic will continue to be decisive on the direction of the markets.
Technically reminding that the BIST 100 index has been fluctuating in the 82,000-92,000 band for the past two weeks, analysts said that the movement within this band can be expected to continue until there is a positive news flow.
Analysts said that the Central Bank of Turkey continued to support the decision taken steps yesterday, relieved about the liquidity of the markets in the TL, the progress of emerging currencies against the dollar stressed that parallel decline.
Analysts said that the dollar / TL is the resistance zone of the 6.65-6.70 band, and 6.55 could come to the support position.
The data to be followed in the markets today are as follows:
10:00 Turkey, March manufacturing PMI
10.55 Germany, March manufacturing industry PMI
11.00 Eurozone, March manufacturing industry PMI
11.30 UK, March manufacturing industry PMI
12.00 Eurozone, unemployment rate in February
15.15 USA, ADP private sector employment in March
16.45 USA, March manufacturing industry PMI
17.00 USA, March ISM manufacturing index
