Turkey is being positively selected in terms of stock exchanges as the weekend approaches. Although benchmark rate has not declined, closing price of the day remained flat.
The fact that Fed minutes gave the impression that the Federal Reserve has been preparing for larger rate rises caused decline in Euro/dollar parity, it wasn’t as striking as people thought it would be as investors’ risk appetite is still strong. Fed stating that growth rate might turn out to be higher than expected due to tax reductions has sort of given hope for the future.
Following this statement, European stock exchanges started to keep a fluctuating trend while New York Stock Exchange closed flat without making a big jump. As for Turkey, BIST was selected positively compared to other emerging countries’ exchanges as I just mentioned above, and approached nearly to last week’s closing price.
The fact that Syrian pro-government forces have been repulsed the moment they have entered the Kurdish enclave of Afrin made the headlines yesterday. Syria’s violent attacks to another part of the region have been stirring up global controversy. UK has warned Syrian actions in the region, Russia has called for a UN Security Council meeting.
“Crypto currencies again…”
In the meantime, BITCOIN and some other crypto currencies started to rise again. I, once again, would like to warn those who are thinking about investing in crypto currencies: As the name implies, “money” is either about spending or saving. You do invest using your money. You do not invest ‘in’ money. Money is not a commodity. There are times even dollar causes investors to lose money. Fluctuations of the Euro/Dollar parity just enhances my point.
So, if you are dead set on investing in crypto currencies, make sure you invest small amounts of money to avoid regret later on. Sometimes, I hear about some people who sold everything they owned just to get a loan. Believe me, I get so stressed, even more stressed than the borrowers themselves when I hear of such things.
Prof. Dr. Emre Alkin
