TL Started The Week With A Horizontal Movement

TL started the week with a horizontal movement. In today's most important agenda, inflation data appear.

The day when inflation data will be announced in the domestic markets started horizontally for the Turkish Lira. After testing above the 8.24 level in the first transactions, the USD/TL exchange rate found balance around 8.18. Turkey's risk premium is traded at 457 basis points, while benchmark bond interest is below 19 percent. In global markets, on the other hand, a positive trend was observed in US futures on a day when trading volumes were low due to the Easter holiday.

Inflation Data Will Be Closely Monitored Today

According to the inflation survey conducted by Bloomberg HT with 21 institutions, economists' expectation for March was that the annual increase in the consumer price index would increase by 16.10 percent. If this expectation of economists comes true, annual inflation will record its highest level since July 2019. Sharing the lowest expectation among the institutions participating in the survey, the institution reported that monthly inflation was 0.8 percent in March; Predicted annual inflation to be 15.90 percent. Sharing the highest expectation, the institution estimated consumer inflation to be 1.75 percent on a monthly basis and 16.97 percent on an annual basis in March.     This article has contributions of Bloomberg HT.