Turkey: Turkey – Factors to Watch on July 3

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ISTANBUL, July 3 (Reuters) – Here are news, reports and events that may affect Turkish financial markets on Monday.

The lira stood at 3.5205 against the U.S. dollar at 0502 GMT, little changed from 3.5192 at Friday’s close.

The yield on the benchmark 10-year bond was at 10.53 percent in spot trade on Friday and was at the same level in Monday-dated trade.

The main BIST 100 share index rose 0.25 percent to 100,440.39 points on Friday.

GLOBAL MARKETS

Asian stocks held two-years highs on Monday, starting the new month on a solid footing after two quarters of gains while expectations of credit tightening by the world’s major central banks kept global bond markets under pressure. MSCI‘s broadest index of Asia-Pacific shares outside Japan was flat, staying within a stone’s throw of its two-year peak hit last week.

INFLATION DATA

The Turkish Statistics Institute will announce inflation data for June (0700 GMT). In a Reuters poll, the data was expected to show the consumer price index was up 0.10 percent month-on-month in June.

JUNE PMI DATA

The Turkish manufacturing Purchasing Managers’ Index (PMI) for June will be released (0700 GMT). In May the index rose to 53.5 from 51.7 in April.

CABINET MEETING

Prime Minister Binali Yildirim will chair a meeting of the cabinet of ministers (0900 GMT), after which the government spokesman is expected to hold a news conference. Before the meeting, Yildirim will attend a signing ceremony regarding 2017 public sector employment contracts (0800 GMT).

ERDOGAN

President Tayyip Erdogan will attend a ceremony for the launch of the Kinaliada corvette warship and for the beginning of construction of the Istanbul frigate, both part of a defence industry shipbuilding project (0830 GMT).

JUNE EXPORT DATA

Turkish exports rose 1.8 percent year-on-year in June to $12.07 billion, the Turkish Exporters’ Assembly (TIM) said on Saturday

JUNE TRADE BALANCE

Turkey‘s trade deficit narrowed 8.57 percent year-on-year in June to $6.021 billion, data released by the Customs and Trade Ministry showed on Sunday.

ISTANBUL INFLATION

Retail prices in Istanbul, Turkey’s biggest city, rose 0.06 percent month-on-month in June and climbed 9.38 percent year-on-year, the Istanbul Chamber of Commerce said on Saturday.

BDDK BANKING DATA

The BDDK banking watchdog will release banking data for May (1100 GMT).

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Reporting by David Dolan)



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