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Global market focuses on Trump’s key speech

Donald TrumpBy Bahattin Gonultas,

Ankara : The U.S. dollar gained after republican agreement on the shape of U.S. tax cuts, but investors will closely watch President Donald Trump’s speech on national security on Monday.

The greenback rose against the yen on Monday in Asia and the euro/dollar exchange rate was trading at $1.1762 on the global currency market.

The U.S. dollar index, which measures the dollar’s strength against a trade-weighted basket of six major currencies, eased 0.02 percent to 93.43.

It is expected that Trump will call out China for engaging in “economic aggression”, in his national-security speech according to the Financial Times.

In other developments, the market will be watching lawmakers in the world’s largest economy, U.S., for their decision on reducing corporate and individual tax rates.

In Turkey, the treasury will announce central government debt stock on Wednesday.

The Turkish Statistical Institute revealed the December consumer confidence index on Thursday and November house sales on Friday.

The Turkish lira rose to 3.8603 against the dollar at Monday’s opening, compared to 3.8676 on Friday’s close.

Gold prices were up 0.19 percent at $1,256 per ounce at 0632GMT Monday.

On Friday, Turkey’s benchmark stock index closed down 0.31 percent at 109,330,17 points.

The Brent crude oil index hovered over $63.43 per barrel on Monday at 0632GMT.

The ten-year benchmark bond in Turkey was traded at 12.40 percent, 7 base points higher than Friday’s close.

—AA

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