Global markets eye next Fed chief, rate decision

By Bahattin Gonultas

ANKARA (AA) - The global currency market has its eyes on the U.S. Fed’s rate decision expected to be announced this week.

The decision on Wednesday, might keep the rates at 1.25 percent and increase them in the next meeting in December.

In another important development, the U.S. President Donald Trump will announce Fed’s new chief on Friday.

In the domestic market, Turkish Statistical Institute will announce the foreign tourist arrivals for September on Monday and statistics for tourists in the third quarter on Tuesday.

Also on Tuesday, the Turkish Statistical Institute will announce trade figures for September.

On Wednesday the Turkish Central Bank will release its fourth quarter inflation report.

The October preliminary trade statistics will be announced by the Turkish Statistical Institute on Thursday.

On Friday, the institute will announce Turkey’s October inflation figures.

Also on Friday, the S&P rating agency will reveal its credit rating for Turkey.

The Turkish lira rose to 3.771 against the U.S. dollar on Monday’s opening, compared to 3.7865 on Friday’s close.

Gold prices were up 0.80 per cent at $1,269.30 per ounce at 0720 GMT on Monday.

Turkey's benchmark stock index, BIST 100, rose 897.73 points or 0.83 percent to open at 108,781.76 points on Monday.

International benchmark Brent crude oil hovered over $60 per barrel on Friday for the first time in two years, but dropped by 0.05 percent to $60.10 per barrel on Monday at 06.06 GMT.

American benchmark West Texas Intermediate (WTI) increased by 0.02 percent to $53.89 at 0606GMT on Monday.

The U.S. October payroll report comes out on Friday. On Monday, personal income and spending data comes out, which features the Fed’s preferred inflation gauge.

Trump will visit Asian countries, including China, for an 11-day tour, starting Friday.