Turkey – Factors to watch on June 27

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

The lira USDTRY traded at 39.77 against the U.S. dollar at 0419 GMT, compared with a close on Thursday of 39.7815.

The main BIST 100 share index XU100 closed 1.25% lower at 9.301,05 points on Thursday.

GLOBAL MARKETS

Asia shares hit their highest level in more than three years on Friday as they tracked a Wall Street rally, though the dollar struggled on concerns about the Federal Reserve’s independence and expectations for early rate cuts.

ERDOGAN PROGRAMME

Turkish President Tayyip Erdogan will attend the Global Transportation Corridors Forum in Istanbul. (1130 GMT)

TRANSPORT MINISTER

Transport and Infrastructure Minister Abdulkadir Uraloglu will also attend the Global Transportation Corridors Forum in Istanbul. (1130 GMT)

TRADE MINISTER

Trade Minister Omer Bolat will attend a meeting of the Turkey-Russia commercial and economic cooperation commission in Moscow.

OPPOSITION

Ozgur Ozel, head of the main opposition Republican People’s Party (CHP), will visit Berlin and hold a series of meetings.

ECONOMIC CONFIDENCE INDEX (TRECON=ECI)

The Turkish Statistical Institute will release its economic confidence index for June (0700 GMT).

CENTRAL BANK MINUTES

The Turkish central bank said on Thursday that leading indicators suggest the underlying trend of inflation continued to decline in June.

NATO DEFENCE SPENDING

Turkey supports NATO’s decision to more than double its defence spending target to 5% of GDP by 2035 and is already exceeding the previous 2% benchmark, a Turkish defence ministry source said on Thursday, adding Ankara would prioritise air defences.

ERDOGAN-TRUMP MEETING

President Tayyip Erdogan said Turkey has not given up on acquiring F-35 fighter jets from the United States and has conveyed its desire to rejoin the programme from which it was removed over its purchase of Russian defence systems.

UKRAINE-RUSSIA

Turkish President Tayyip Erdogan said his U.S. counterpart Donald Trump told him he would attend potential peace talks between the leaders of Ukraine and Russia in Turkey, if Russian President Vladimir Putin also agreed to take part.

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