USA
Cuma günü küresel piyasalarda temkinli bir seyir öne çıktı. ABD vadeli endeksleri, önceki seansta S&P 500 ve Nasdaq’ın rekor seviyelerden geri çekilmesinin ardından hafif yükselişle işlem gördü. Yatırımcılar, yapay zekâ hisselerinde görülen hızlı değer artışını ve Fed’in faiz indirimi ihtimalini yeniden değerlendirirken, dokuzuncu gününe giren hükümet kapanması ekonomik belirsizliği artırdı. Bu hafta açıklanacak üçüncü çeyrek bilançolar, özellikle Citigroup ve JPMorgan gibi büyük bankalardan gelecek veriler, piyasa yönü açısından kritik olacak. Emtia piyasasında altın, haftayı 3.980 dolar civarında tamamlayarak üst üste sekizinci haftasını kazançla kapatmaya hazırlanıyor. Ekonomik belirsizlikler, Fed yetkililerinin olası faiz indirimi sinyalleri ve süregelen hükümet kapanması güvenli liman talebini desteklerken, İsrail-Hamas arasında ateşkes planının ilk aşamasına varılması sonrası kısmi kâr satışları görüldü. ABD 10 yıllık tahvil getirisi %4,14 seviyesinde yatay kalırken, piyasalar ekim ayında 25 baz puanlık faiz indirimi olasılığını %95 olarak fiyatlıyor. Dolar endeksi, Japon yeni ve eurodaki zayıflığın etkisiyle 99,3 seviyesinin üzerinde kalarak son bir yılın en güçlü haftalık kazancını kaydetmeye hazırlanıyor. Japonya’da teşvik yanlısı başbakan adayı Sanae Takaichi’nin seçilmesi, yendeki değer kaybını hızlandırırken; Fransa’da Cumhurbaşkanı Macron’un hâlâ yeni başbakan arayışı euro üzerindeki baskıyı artırdı. Petrol piyasasında, WTI ham petrolü 61 dolar civarında işlem görerek haftalık bazda hafif kazanç yönünde kaldı. İsrail ve Hamas arasında sağlanan ateşkes anlaşması jeopolitik risk primini azaltırken, ABD’nin İran’ın enerji ticaretiyle bağlantılı 50’den fazla kişi ve kuruluşa yaptırım uygulaması fiyatların düşüşünü sınırladı. OPEC+’ın beklenenden düşük üretim artışı kararı ve Cushing ile rafine ürün stoklarındaki gerileme, arz tarafında sıkılaşma sinyali verdi. Genel olarak, piyasalarda yatırımcılar faiz indirimi beklentileri, jeopolitik gelişmeler ve yaklaşan bilanço sezonu arasında yön arayışını sürdürüyor. Risk iştahı sınırlı kalsa da güvenli liman varlıklarına olan talep ve doların gücü, küresel fiyatlamalarda belirleyici olmaya devam ediyor.

Eurozone
European markets continued their downward trend on the final trading day of the week. Global risk appetite remained subdued by concerns about a bubble forming in AI-related technology stocks and concerns about high valuations. French President Emmanuel Macron's continued search for a sixth prime minister in two years is exacerbating political uncertainty and weakening investor confidence. Bank stocks fell on Thursday after HSBC announced plans to privatize its Hong Kong subsidiary, while Ferrari's downgrade of its annual and long-term profit forecasts and reduction of its electric vehicle sales targets also fueled the sell-off. Losses in the retail and healthcare sectors also dampened morale, with the Euro Stoxx 50 and Stoxx 600 futures indexes falling by around %0.1 in early trading.

 

Türkiye
In a note published by Morgan Stanley, it was stated that the slowdown in disinflation in Türkiye will also lead to a slowdown in interest rate cuts. The institution revised its year-end inflation forecast upward from 30% to 31.5% and revised its year-end policy rate forecast to 37.50%. Fed Chair Powell did not address monetary policy yesterday. It was eagerly anticipated, but since he did not comment, it had no impact on the markets. Domestically, data flow is calm today. Data in the US will be closely monitored. Fed members' speeches are also available.

EUR/USD
The euro remained weak at $1.16 amid political uncertainty in France and weak economic data from Germany. Macron's new prime minister
While the appointment of the new president was expected, the low probability of an early election was welcomed by the markets. However, exports and imports in Germany were higher than expected.
The decline has raised concerns about the Eurozone economy.
Intraday technical levels:
Supports: 1.1519 – 1.1477 – 1.1413
Resistances: 1.1625 – 1.1690 – 1.1732

GBP/USD
Sterling fell to a nine-week low of $1.33 on concerns about the strengthening dollar and the upcoming November budget.
Markets are concerned that potential tax increases to meet fiscal targets could further pressure the weak economy. The Bank of England's 2026
While only two interest rate cuts are expected by the end of the year, inflation is expected to remain at 4 percent, twice the target. Intraday technical levels are as follows:
Supports: 1.3248 – 1.3194 – 1.3109
Resistances: 1.3387 – 1.3473 – 1.3527

XAU/USD
Gold is trading around $3,980, poised to close its eighth week higher. Expectations of a US interest rate cut and a government shutdown are safe.
While supporting port demand, the dollar remains strong. Oil prices are trading sideways at $61, investors are focused on the Fed's decisions and the upcoming
It has been translated into balance sheets. Intraday technical levels;
Supports: 3927 – 3879 – 3814
Resistors: 4040 – 4106 – 4154

XAG/USD
Silver is heading for its eighth consecutive weekly gain, approaching the $50 level, driven by safe-haven demand and supply tightness.
The metal, which gained above 70%, outperformed gold, finding support on expectations of lower interest rates and global debt concerns. The US government shutdown,
The political crisis in France and the leadership change in Japan are also boosting investor interest, with industrial demand expected to exceed supply for the fifth consecutive year in 2025.
internal technical levels;
Supports: 47.97 – 46.82 – 45.24
Resistances: 50.70 – 52.28 – 53.43

Brent Crude Oil
Brent crude oil continued its losses on the last trading day of the week, falling below $65 a barrel as geopolitical risks in the Middle East eased.
While progress on the ceasefire plan has pressured prices, the US sanctions on more than 50 individuals and organizations linked to Iran's energy trade have pushed downward
OPEC+'s decision to increase production limitedly and the decrease in refined product inventories due to Cushing's signaled a tightening on the supply side. Intraday technical levels:
Supports: 64.56 – 63.95 – 62.95
Resistances: 66.17 – 67.17 – 67.78

Crude Oil
WTI capped its weekly gains, falling to $61 as geopolitical tensions in the Middle East eased. A ceasefire between Israel and Hamas
While the agreement lowered the risk premium, new US sanctions on Iran's energy trade offset the decline in prices. OPEC+'s decision to increase production limited and
The decline in refined product inventories and Cushing's indicated that supply remained tight. Intraday technical levels:
Supports: 60.87 – 60.24 – 59.25
Resistances: 62.48 – 63.47 – 64.10

Nasdaq (Near Term)
The Nasdaq index maintained its strong outlook for technology stocks, despite retreating slightly from record highs in the previous session. Investors are betting on the AI-driven rally.
The extended government shutdown in the US continued to create uncertainty as markets assessed its sustainability and the impact of potential interest rate cuts.
As the focus now turns to third-quarter earnings, results from major technology and banking stocks in particular are expected to determine the index's direction.
Intraday technical levels:
Supports: 24960 – 24844 – 24729
Resistors: 24192 – 24307 – 25423

Dow Jones (Near Term)
The Dow Jones Industrial Average fell 0.52% on Thursday, the weakest performing of the major indexes. Investors were weighed down by interest rate cut expectations and government
As the economic impact of the closure is weighed, selling pressure has been seen in industrial and financial stocks. Markets are now monitoring the upcoming bank statements, which will
focuses on evaluating the recovery potential. Intraday technical levels;
Supports: 46171 – 45998 – 45744
Resistors: 46599 – 46854 – 47027

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