The movement in the foreign currencies continues after the announcements regarding the internal markets.

In the internal markets, the foreign currencies which rose drastically last week with the effects of tension between USA and Turkey, dropped to 5.7013 in dollar, 6.5005 in euro and 7.2666 in GBP after the Central Bank of Republic of Turkey (TCMB) and BDDK intervened.

Minister of Treasury and Economy, Berat Albayrak, emphasized that there will be no compromises in the fiscal disciplines and stated that the control over capitals is not in their agenda and will never be in the teleconference he had with over 3000 foreign investors.

While the USA-Turkey tension was continuing, Stock Exchange Istanbul Index (BIST100) decreased by 1.97 percent to 88 thousand 535 pounds, while the return on 10-year government bonds increased by 0.98 to 21.67 level.

According to the numbers from the Central Bank, the short-term foreign debt stocks rose to 119.8 billion USD with an increase of 1.5% by the end of June from the beginning of the year. 18% of the total amount of the debt stock belongs to public sector while 0.3% belongs to the Central Bank and 81.7% to the private sector.

While the tension continues in the global markets, Chinese ministry of Commerce announced that a committee including the Deputy Commerce Minister Wang Shouwen will go to the USA for the trade meeting. Petroleum prices increased after the trade meeting signaled that trade meetings will continue. Brent Petroleum had an increase of 0.10% per barrel to 70.83 USD, while American light Petroleum had a decrease of 0.15% per barrel to 64.91 USD.

According to the numbers which were announced today, Euro Zone had a 100.7 billion Euros surplus in the first six months and 22.5 Billion Dollars surplus only in June. The Thai Securities and Exchange Commission (SEC) announced that it had seven crypto-currency companies licensed to take action across the country, while the market was undergoing fluctuations, the first 10 crypto units with the highest volume in the last 24 hours increased.

The wavy situation in the markets continue as the tension between USA and Turkey continues and Trump doubling the taxes.

The wavy situation in the markets continue as the tension between USA and Turkey continues and Trump doubling the taxes.

The retreat parallel with the crisis because of the America Priest case rose again to see their new historical records. USD rose to 6.46, Euro to 7.20 and GBP to 8.27.

After the announcement of the USA Ministry of Foreign Affairs Spokesperson Nauert on the negotiations to continue, USD had a rise in the global markets and the USD index to rise to the peak of the last 13 months, the foreign currencies continue their strong cruising in the internal markets. While the President of Turkey, Erdogan, stated that the economical war will continue about the foreign currencies, USA President Trump tweeted that the relations between Turkey and USA are not good and thus the extra taxes on aluminum and steel will be doubled. After Trump’s tweet, the extra taxes were raised to 20% on aluminum and 50% on steel.

In the Turkey’s news, yearly current account deficit became 57.39 Billion USD in June. According to the central bank’s numbers, the June deficit was 2.97 Billion USD, while it was 5ç89 Billion USD surplus in May.

Following the announcements of the President Erdogan’s, the Minister of Finance stated that in the future a much strict monetary policy will be followed.

According to the numbers from Turkish Institute of Statistics (TUIK), export unit index of import unit value index is calculated by dividing the external terms of trade in 2017 and happened as 107.1 in June, was lowered 3% points to 104.1 in June 2018. Foreign trade was in the level of 102.9 in May.

The wavy situation in the emtia markets, continues after the sanctions of USA on Iran and the trade war between USA and China. Petroleum prices started to fall again after the trade disagreements pressured on the demand with the worries on supply after USA’s sanctions on Iran to start again. According to the announcement made by the International Energy Agency (IEA) on Friday, the USA-China trade war can hurt the global demand on petroleum this year and next year; also, it can get very hard to keep the supply of petroleum after the sanctions of USA to Iran. Following the IEA announcements, Brent Petroleum, which Turkey also uses to determine the oil prices as a base, is in trading with a daily decrease of 0.22%, per gallon 71.91 USD; USA light petroleum is in trading with a daily decrease of 0.33 % 66.59 USD per gallon.

In the global markets, the UK economy grew 0.4 being parallel to the expectations in the second quarter of the year.  İn the numbers of the UK Statistics Office, UK’s GDP grew 0.1 % in June and the second quarter growth was 0.4 %.

The foreign currencies which were on the rise because of the tension between Turkey and USA, started to fall after the two foreign affairs minister meets.

The foreign currencies which were on the rise because of the tension between Turkey and USA, started to fall after the two foreign affairs minister meets.

After the USA took the decision on implementing sanctions on Turkey after the American priest, Andrew Craig Brunson was put on house arrest, US dollar rose to 5,4222 and euro to 6,1619 and British pound to 6,9016 liras. While the tension between the two countries continued, the assets with lira base got separated from the developing countries assets in a negative way. After the spokesperson for the USA Foreign Affairs Ministry, Heather Nauert, said that the meetings between the two foreign affairs ministers are a big process on this issue, the foreign currencies were on the fall, however they started to rise again today. The US Dollar was lowest 5.2182, highest 5.3072 and now between 5.27 – 5.28 lira; Euro was lowest 6.0541, highest 6.1562 and now between 6.11 – 6.12; British Pound was lowest 6.7592, highest 6.8519 and now 6.79 – 6.80. The consumer prices which were under expectations rose 0.55 % in July and 15.85 % in year base.

In the global markets; China announced that they will put extra 25% tax on the products from USA which is worth 16 Billion USD. In the statement, it was mentioned that the American petroleum and automobiles which are manufactured in the USA are included in this tax. China’s foreign trade surplus has retreated to 28 Billion USD which was under the expectation of 39.33 Billion USD.

USA’s sanctions on Iran are starting again on Tuesday, which caused the petroleum prices to lower a little bit with the worry of scarcity in the markets. Brent crude oil ,also used as a criterion in defining the fuel prices, is traded from 74.45 dollars per barrel with a daily percentage decline of %0.27, is  US light oil are traded from 68.82 dollar with a daily percentage decline of 0,51. Türkiye'nin de akaryakıt fiyatlarını belirmede ölçüt olarak kullandığı Brent ham petrolü günlük yüzde 0.27 düşüşle varil başına 74.45 dolardan, ABD hafif petrolü de günlük yüzde 0.51 düşüşle 68.82 dolardan işlem görüyor.

 

The currencies which rose with USA’s sanction decision, went down again with the inflation rates which were under expectations.

The currencies which rose with USA’s sanction decision, went down again with the inflation rates which were under expectations.

Even though FED kept the interest rates stable between 1.75 – 2.00, the expectation of continuing monetary tightening and the sanction decision after the American priest Andrew Brunson’s house arrest due to his health conditions caused the foreign currencies to rise again. With the effects of these developments, USD, Euro and British Pound renew their records and became 5.1154, 5.9341, 6.6628 respectively.

In the extent of the new announcements in the USA, the unemployment rate retreated to 3.9%, the lowest rate of the last 50 years, the USD continued going down. The USD rate, which reached the level of 5.11 today, went back down to 5.06 after the inflation and NFP rates were announced lower than they were expected.

Following the USA’s sanction announcements, Erol Bilecik, the president of Turkish Industry and Business People (TÜSİAD) said that these sanctions are not acceptable and that they are against to the nature of the strategical alliance between USA and Turkey, in his written declaration. “We hope that the relations between the two countries will be recovered in a constructive way.” Said Bilecik.

The wavy situation in the global markets, continued after the Bank of England (BOE) announced their interest rate decision. BOE decided to raise their interest rates 0.25 base points to 0.75%. The bank kept their assets buying at the same level.

USA’s foreign trade deficit rose to 46.3 billion dollars in the month of June and continued rising after the worries of Trade War with China, Mexico and Canada. Before the NFP numbers were announced in the USA, the for the trade war rose again with China’s retaliation with putting extra tax to the goods coming from USA worthy of 60 billion USD. The indexes are mixed in Asia after the NFP’s are announced in the USA and Apple reaching its market value to 1 trillion dollars. While the NFP rates could not exceed the expectations in July with a raise of 157 thousand, the expected raise was 190 thousand.

Euro Area Composite PMI fell to 54.3 from 54.9 of June levels. According to IHS Markit data, business confidence is at the lowest level since November of 2016. Euro Area Service PMI declined to 54.2 in July from 55.2 in June and reached its lowest level in the last 18 months. PMI data continued to fluctuate in European indices.

The worries of the Trade War and the announcements from the Central Bank made the market continue in it’s instability

The worries of the Trade War and the announcements from the Central Bank made the market continue in it’s instability

While the additional new tariffs from the USA against many Asian countries especially China, regarding to the “America First” policy, caused the worries for a trade war rise again. China and European Union launched counter-tariffs against USA, therefore the global trade tension rises during the month of July.

The instability in Internal and Global Markets during July remains after the Central Bank’s Monetary Policies Association’s decision to not the increase the political interest rates from 17.75. Also the Central Bank’s third inflation report regarding to inflation forecast for the end of the year from 8.4% to 13.4% and European Central Bank’s (ECB) decision on keeping the interest rates stable causes the instability to remain.

While Dollar was between 4.60-4.92 during July, Euro was between 5.37-5.76; BIST100 99K 253, Euro 7.77, dollar 4.92 and British pound was 6.59 in the internal markets.

President of the United States of America, Donald Trump’s insist on sanctions for Iran and OPEC’s forecast on softening the production regulations caused a decrease on petroleum prices. Also Trump stated that he was positive about a meeting with Iran on the topics of the sanctions and USA-Iran relations, however, The President of Iran, Hassan Rouhani refused in this case. In the light of these developments, Brent Petrolium, whose prices are being used as base by Turkey, decreased their prices to 72.96 $ from 76.79 $ per barrel by the end of July.

Foreign Trade Deficit, the most important component of the deficit stated by Turkish Statistical Institute in July due to a faster increase in imports than exports in June, decreased 9.1 percent to 5 billion 497 million dollars compared last year's same month. The related datas also stated that Turkey's exports are mostly to the European Union (EU) and Turkey's EU exports’ increase of 6.4 percent compared to the previous year June, as 6 billion 630 million dollars.

 

Regulations made the markets move, therefore Bitcoin is on the Fall again.

Regulations made the markets move, therefore Bitcoin is on the Fall again.
The volatility in the crypto-currencies is still showing it’s effects after the Indian government announced that the regulations related to crypto currencies will be completed by September and the European Parliament’s Economic and Monetary Commission’s (ECON) last report stating that the crypto currencies which will be distributed to the markets by the central banks will become a “solution” to the lack of competition in the market. 
The rising usage of the crypto currencies and the blockchain technology which they are connected to in especially money laundering and other illegal activities, fastened the process of regulations. Similar to the Indian government, the G20 countries also stated that they have set the date for Anti Money Laundering (AML) standard as October. 
While these events have been making the markets moving very fast, the changes in the crypto currency markets became the main factor for determining the value rise in altcoins. After the cooperation between Canada’s leading crypto currency market, CoinField, and the Manticore Ventures based in Malta, creating the moonGo application in order to provide a more flexible and safe service to their customers; the crypto currency trading became popular again and the sixth biggest crypto currency in the market, Stellar, had a rise of 13.01% in July 26. 
The rise which happened for two days in the crypto currencies left its place to a fall after the USA’s SEC’s rejection of famous Bitcoin investors Cameron and Tyler Winklevoss brothers demand of opening a market investing fund for Bitcoin. As of July 27, Bitcoin, retreated to under 8,000 $ and got lowered to the 290 Billion $ after the general fall seen in the 90 out of 100 biggest crypto currencies in the market. 
The biggest valued crypto currency Bitcoin, had exceeded the 8,000 $ level in July 23 after a recess of two months for the first time, and their market value was over 300 Billion $ in July 25 for the first time since mid-June.