Economic Developments in the US continue to determine the direction in currency and commodity markets

US Inflation Exceeded Expectations

The most important data of last week in the US were the inflation and PPI figures. According to the data, consumer prices in the US increased by 3.4% annually and 0.3% monthly. The annual inflation in the US was expected to rise to 3.2%, and the monthly inflation was expected to increase by 0.2%. Core consumer prices increased by 0.3% monthly in line with market expectations.

Decline in US PPI

On the other hand, on Friday, all eyes were on the US PPI data. The unexpected decline in producer prices in the US supported expectations that the Federal Reserve would start cutting interest rates in March. Following this development, the dollar index and the US 10-year bond yield declined.

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The dollar index is currently at 102.371, while the US 10-year bond yield is at 3.941%.

What is the Current Situation in the Market Today?

The US Dollar/TRY started the first trading day of the week above 30.09. The exchange rate is currently stable, with the lowest at 30.00 and the highest at 30.10. Meanwhile, the Euro is trading at 33.05 lira.