What matters this morning

The most important outcome of yesterday’s cabinet meeting was the new normalization steps towards fight against COVID-19, although President Recep Tayyip Erdogan gave five minutes at the end of his speech. Accordingly, the pandemic curfews will end as of July 1. The country will also lift intercity travel restrictions as well as public transport restrictions on July 1, Erdogan announced. The public institutions and organizations will return to the normal working order as well.

The falling number of daily coronavirus cases and the death toll, which is 5,294 and 51 respectively, was effective in the decision. In the meantime, over 47.2 million people have vaccinated to date while more than 28.2 million people have received the second dose.

President Erdogan also stressed that everybody aged over 18 will be able to get their first jabs within a few weeks. Hygiene, mask, and social distancing rules still need to be followed, he reminded.

In the meantime, the Fourth Judicial Package, which was submitted to the Parliament last week, will be examined by the Justice Commission. Regulations such as penalty increase in offences committed against divorced spouses and revision of judicial control decisions every four month are included in the proposal.

While this is the scene in the political atmosphere, USD/TRY, which reached 8.80 and ended the day at 8.77 yesterday, is traded at 8.74 this morning. EUR/TRY stands at 10.41.

Oil prices increased by the support of decreasing concerns over Iranian petrol and rapid recovery expectations in oil demand across the world. Oil prices have seen USD 75 for the first time since April 2019. Brent crude is traded at USD 75.23 per barrel this morning with a 0.44% increase.

Gold prices also rose after USD slightly declined and tendency towards the yellow metal increased. Spot gold reached USD 1,781 this morning.


The Consumer Confidence Index surged by 5.8% to 81.7 points in June, compared the previous month, according to the Turkish Statistical Institute (TurkStat).

The Ministry of Treasury will reopen the 2-year (721 days) maturity fixed coupon bond and the 5-year (1,883 days) TLREF Indexed government bond.

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