USA
ABD endeks vadeli kontratları ve Asya borsaları, ABD Başkanı Donald Trump ile Çin Devlet Başkanı Xi Jinping’in ticaret gerilimini azaltmayı hedefleyen zirvesi ardından kararsız bir seyir izledi. ABD Merkez Bankası (Fed) Başkanı Jerome Powell’ın Aralık ayında faiz indiriminin garanti olmadığı yönündeki açıklamaları kısa vadede risk iştahını sınırlasa da, yatırımcıların odağı Trump–Xi görüşmesine çevrilmiş durumda. Görüşmeden, bazı gümrük vergilerinin geri çekilmesi ve ihracat kısıtlamalarının azaltılması gibi adımlarla ticaret gerilimlerinin hafiflemesi bekleniyor. Ayrıca Çin’in ABD’den mevsimin ilk soya fasulyesi ithalatını yapması, ilişkilerde yumuşama sinyali olarak değerlendiriliyor. Fed, beklendiği gibi faiz oranlarını ikinci kez düşürürken, Powell istihdam piyasasındaki zayıflamaya dikkat çekti. Bu gelişme sonrası yatırımcılar, Japonya Merkez Bankası (BOJ) ve Avrupa Merkez Bankası’ndan (ECB) gelecek yeni politika sinyallerini izliyor. Hazine tahvili faizleri hafif gerilerken, altın fiyatı dört günlük düşüşün ardından yatay seyretti. Öte yandan teknoloji hisseleri yeniden piyasa gündeminin merkezine yerleşti. Alphabet, Meta ve Microsoft’un son çeyrekte toplam 78 milyar dolarlık sermaye harcaması yapması — yıllık bazda %89 artış anlamına geliyor — yapay zekâ teması etrafında oluşan yatırım iştahını güçlendirdi. Nvidia’nın 5 trilyon dolarlık piyasa değerine ulaşması ve Alphabet’in güçlü bilançosu, Asya’daki teknoloji hisselerine de alım getirdi. Bununla birlikte, OpenAI’nin gelecek yıl 1 trilyon dolar piyasa değerine ulaşabilecek bir halka arz hazırlığında olduğu bildirildi. Genel olarak piyasalar, Fed’in temkinli mesajlarını arka planda bırakıp ticaret anlaşması ihtimali ve yapay zekâ destekli büyüme hikâyesine odaklanırken, analistler bu iki faktörün küresel hisse senetleri için yeni bir yükseliş dalgası yaratabileceğini değerlendiriyor.

Eurozone
European stock markets are set to open flat on Thursday, with investors focused on new developments in global trade and policy actions from central banks. Following his meeting with Chinese President Xi Jinping, US President Donald Trump announced that a significant trade agreement had been reached between the two countries. Under the agreement, the US has halved tariffs on fentanyl imported from China, while Beijing has agreed to suspend rare earth export restrictions for one year, resume purchases of soybeans and other agricultural products from the US, and tighten controls on fentanyl trade. However, the lack of an official response from China has led to cautious market sentiment. On the monetary policy front, the US Federal Reserve (Fed) cut interest rates by 25 basis points, in line with expectations, to a range of %3.75-4.00. In Europe, all eyes are now on the European Central Bank (ECB), with market participants expecting the ECB to maintain its current tight stance. On the macroeconomic agenda, Eurozone third-quarter growth figures and Germany's October inflation figures will be at the forefront. The moderate pace of price increases in Germany, the region's largest economy, is seen as supporting the ECB's tight monetary policy. On the corporate side, investors will be closely monitoring the earnings releases of Volkswagen, Puma, and leading French banks. In light of these developments, the Euro Stoxx 50 and Stoxx 600 futures indices were trading flat in pre-opening trading, while cautious optimism prevailed in the markets overall.

Türkiye
While the Fed's interest rate decision announced yesterday had no impact on pricing, the dollar index rose. The USD/TRY exchange rate is around 41.99 as of 8:00 this morning. The economic confidence index will be on the agenda today, while growth data from the US will be on the agenda.

EUR/USD
The euro fell below $1.16, its lowest level since mid-October, as the dollar strengthened after the Fed cut interest rates by 25 basis points. Powell said this year
He stated that another interest rate cut is unlikely. The ECB is expected to keep interest rates unchanged at its October 30 meeting and maintain a cautious stance throughout 2025.
Intraday technical levels are expected:
Supports: 1.1562 – 1.1525 – 1.1474
Resistances: 1.1650 – 1.1702 -1.1738

GBP/USD
The British pound fell below $1.32, its weakest since April, amid a strengthening dollar following the Fed's interest rate cut and expectations of a possible interest rate cut from the BoE.
Prime Minister Keir Starmer's failure to rule out tax increases and the Budget Office's downgrade of its productivity forecast have weakened the fiscal outlook.
Softening inflation data reinforced expectations for easing monetary policy. Intraday technical levels:
Supports: 1.3127 – 1.3062 – 1.2987
Resistances: 1.3267 – 1.3344 – 1.3408

XAU/USD
Gold prices rose to $3,970 after talks between Trump and Xi, snapping a four-day losing streak. Trump's rare exchange with China
announced a one-year agreement on the elements and fentanyl, while Fed Chair Powell said a new interest rate cut was unlikely in December. Despite this, gold
aylık kazancını koruyarak yıl başından bu yana yaklaşık %50 artış göstermeye devam ediyor. Gün içi teknik seviyeler olarak;
Supports: 3885- 3842 – 3770
Resistances: 4000 -4072 - 4115

XAG/USD
Silver rebounded from a one-month low, rising above $47.50, driven by technical buying and new policy developments. The Fed's 25 basis point rate cut
and the decision to end balance sheet reductions in December loosened liquidity conditions, supporting precious metals. This followed last week's %6 decline.
The recovery was strengthened by both the technical backdrop and expectations regarding trade talks. Intraday technical levels:
Supports: 46.69 – 45.91 – 45.04
Resistances: 48.34 – 49.21 -49.99

Brent Crude Oil
Brent crude erased earlier gains, falling to $64 a barrel after the Trump-Xi summit failed to address energy issues.
Tightening sanctions against the US and Trump's demand that China reduce purchases from Russia have increased uncertainty about the supply outlook. OPEC+'s December production increase
Oil prices are continuing their longest decline since mid-2023, in anticipation of the planned decline. Intraday technical levels:
Supports: 63.49 – 62.77 – 62.18
Resistances: 64.80 – 65.39 – 66.11

Crude Oil
WTI crude oil lost earlier gains, falling to $60 after the Trump-Xi summit failed to address energy issues.
Tightening sanctions on companies and Trump's call for China to reduce imports from Russia have increased supply uncertainty. OPEC+'s limited production increase for December
WTI continues its longest monthly decline streak since mid-2023, in anticipation of its planned decline. Intraday technical levels:
Supports: 59.67 -59.02- 58.35
Resistances: 60.99 -61.66- 62.31

Nasdaq Near Term
Nasdaq futures indexes were mixed after the meeting between Trump and Xi, while tech stocks took center stage. Alphabet's strong
While the rise of close to %7 after the balance sheet supported the index, Meta's one-time expense statement of $15.9 billion originating from Trump's bill and
Microsoft's decline in profits due to its OpenAI investment has added pressure. Uncertainty persists regarding the Fed's December interest rate cut, following its 25 basis point cut.
Investors are focused on the Apple and Amazon financial statements, which will be released later today. Intraday technical levels include:
Supports: 25924 – 25753 – 25601
Resistors: 26248 – 26400 – 26571

Dow Jones Near Term
Dow Jones futures were volatile after Trump and Xi's meeting in South Korea. Trump halved fentanyl tariffs with China and
While the resumption of agricultural purchases supports growth expectations, uncertainty about the Fed's December action following the 25 basis point interest rate cut has affected risk appetite.
While mixed results in big tech stocks weighed on the index, a recovery in industrials and financials kept the Dow relatively strong.
provided. Intraday technical levels;
Supports: 47338 – 47088 – 46740
Resistors: 47935 – 48284 – 48533

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