What matters this morning

The country has brought all the forest fires under control except for three blazes in the southwest, according to Minister of Agriculture and Forestry Bekir Pakdemirli. “In 53 provinces, we have dealt with 270 forest fires, with 267 now under control,” Bekir Pakdemirli said in a press conference in Marmaris, Mugla after a firefighting coordination meeting. The remaining blazes are in the districts of Milas and Koycegiz in the Mugla province and Bozdogan in the Aydin province. On the other hand, electricity generation started again at the Kemerkoy Thermal Power Plant in Mugla.

Regarding the COVID-19 in the country, the Ministry of Health confirmed 23,731 new infections and 117 coronavirus-related deaths in the last 24 hours. In the meantime, over 77.6 million doses of COVID-19 vaccines have been administered to date. Over 42.1 million people have received their first dose while around 29.6 million people are fully inoculated. The number of third COVID-19 shots has exceeded 5.7 million.

The markets focused on the Central Bank’s Monetary Policy Committee meeting to be held this week. Although no interest rate move is expected in line with surveys, President Erdogan’s interest rate statements were confusing. USD/TRY continues to hover around 8.62-8.65 while EUR/TRY is traded at just above 10.14.

Gold prices started to recover slightly after they sharply decreased in shallow transactions as the Japanese markets were closed in Asia. Spot gold surged by 0.3% to USD 1,735.

Although oil prices slightly rose, recovery was limited as concerns over the fact that increase in coronavirus cases and restrictions in China will reduce fuel demand. Brent crude jumped 1.69% to USD 70.21 per ounce.


The unemployment rate dropped by 2.5 points to 10.6% in June, compared to the previous month, according to the Turkish Statistical Institute (TurkStat).

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