Cryptocurrency
S&P Global announced the US’s leading manufacturing, services and composite PMI data for February. Accordingly, the manufacturing industry PMI increased by 0.8 points to 51.5 in February compared to the previous month. During this period, the index was expected to reach its highest level in 17 months and reach a value of 50.5, indicating the expansion in the manufacturing sector. The index, which was above market expectations, was 50.7 in January.
According to the National Association of Realtors (NAR) data, second-hand housing sales increased by 3.1 percent in the first month of 2024, reaching 4 million on an annual basis. This was recorded as the highest level since August last year. Housing sales decreased by 1.7 percent on an annual basis in January. Despite this increase, sales are still far from the 2 million levels seen before the pandemic. Average house prices increased by 5.1 percent in this period compared to the previous year, reaching 379 thousand 100 dollars.
Fed Governor Christopher Waller said he needs to see more evidence that inflation is cooling.
Two senior Fed officials conveyed the message yesterday that the US Federal Reserve is on track to lower interest rates this year, but they emphasized that this will not happen anytime soon.
International Monetary Fund (IMF) Spokesperson Julie Kozack stated that although inflation has fallen, it is not yet close enough to the target, and called on central banks to be cautious against premature loosening of monetary policy.
In Asian markets, Chinese markets opened with gains as investors digested real estate price data.
The decline in house prices in China slowed down in December, marking the first positive development in the last 10 months.
Oil fell in Asian trading as investors weighed signs of market tightening amid ongoing concerns about demand.
President Erdoğan stated that inflation will begin to decline rapidly towards the end of this year.
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