Turkey – Factors to watch on July 7

Here are news, reports and events that may affect Turkish financial markets on Monday.

The lira USDTRY traded at 39.9 against the U.S. dollar at 0409 GMT, trading flat when compared to Friday’s close after hitting 40 against the greenback overnight.

The main BIST 100 share index XU100 closed 0.46% higher at 10.275.75 points on Friday.

GLOBAL MARKETS

Stock markets slipped in Asia on Monday amid confusion as U.S. officials flagged a delay on tariffs but failed to provide much detail on the change, while oil prices slid as OPEC+ opened the supply spigots more than expected.

ERDOGAN

President Tayyip Erdogan will meet with pro-Kurdish DEM party leaders and senior delegation to discuss recent developments in the Kurdistan Worker’s Party (PKK) disbandment decision.

FOREIGN MINISTER

Turkish Foreign Minister Hakan Fidan is attending BRICS leaders summit in Brazil.

OPPOSITION

Turkish authorities detained three more mayors from the main opposition party on Saturday, expanding a months-long legal crackdown that has expanded beyond its origins in Istanbul.

TURKISH LIRA

The Turkish lira traded flat early on Monday, after weakening overnight over news of a widening legal crackdown against the main opposition party.

BONDS

Turkish treasury will tap 8-months zero coupon bond and issue new four-year TLREF-indexed bond in auction.

CASH BALANCE

Turkish treasury will announce cash balance for June (1430 GMT)

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Istanbul National-100 stock index XU100, interbank lira trading (IYIX=), lira bond trading (0#TRTSYSUM=IS)