Daily Bulletin

Good morning. As the U.S. prepares for Trump to take office on January 20, his warning to BRICS countries against taking steps to counter the dominance of the dollar in global trade has triggered selling pressure on non-dollar currencies at the start of the week. Additionally, events unfolding within the context of opposition forces' occupation of Aleppo in Syria are adding to geopolitical risks. Considering these developments, global stock markets, which closed last Friday on an upward note, are displaying a lackluster performance this morning. In Asia, however, open regional markets are generally experiencing gains. At Borsa Istanbul, following a rapid two-day rise from the 9,000s to 9,700 levels the previous week, last week remained largely flat around 9,650. This stability is also forming a technical flag pattern. The resistance level for the pattern is at 9,750, and if this level is breached, the pattern’s target is 10,500, with interim resistance levels at 10,000 and 10,200. The invalidation level for the pattern is 9,570. On today’s agenda, Manufacturing PMI data will be monitored both domestically and internationally. Later in the week, Turkey’s November inflation data (tomorrow) and U.S. employment figures will be key points of interest. Meanwhile, Turkey’s 5-year CDS premium remains stable at 257 basis points.