{"id":45682,"date":"2026-04-28T23:23:02","date_gmt":"2026-04-28T23:23:02","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/usd-chf-cozumsuz-kalan-abd-iran-gorusmelerinin-dolara-destek-vermesiyle-yukselirken-frank-geride-kaliyor-gozler-fedde\/"},"modified":"2026-04-28T23:23:02","modified_gmt":"2026-04-28T23:23:02","slug":"usd-chf-cozumsuz-kalan-abd-iran-gorusmelerinin-dolara-destek-vermesiyle-yukselirken-frank-geride-kaliyor-gozler-fedde","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/usd-chf-cozumsuz-kalan-abd-iran-gorusmelerinin-dolara-destek-vermesiyle-yukselirken-frank-geride-kaliyor-gozler-fedde\/","title":{"rendered":"USD\/CHF, \u00e7\u00f6z\u00fcms\u00fcz kalan ABD-\u0130ran g\u00f6r\u00fc\u015fmelerinin Dolar\u2019a destek vermesiyle y\u00fckselirken Frank geride kal\u0131yor; g\u00f6zler Fed\u2019de"},"content":{"rendered":"

USD\/CHF Sal\u0131 g\u00fcn\u00fc y\u00fckseldi. ABD-\u0130ran sava\u015f\u0131n\u0131 bitirme \u00e7abalar\u0131ndaki belirsizlik risk i\u015ftah\u0131n\u0131 zay\u0131f tuttu ve ABD Dolar\u0131\u2019na talebi destekledi. G\u00fcvenli liman olarak g\u00f6r\u00fclen \u0130svi\u00e7re Frang\u0131 fazla g\u00fc\u00e7lenmedi. \u0130svi\u00e7re Merkez Bankas\u0131 (SNB), d\u00f6vizde a\u015f\u0131r\u0131 hareketlere kar\u015f\u0131 m\u00fcdahaleye haz\u0131r oldu\u011funu s\u00f6yledi.<\/p>\n

USD\/CHF 0,7895 civar\u0131nda i\u015flem g\u00f6rd\u00fc, %0,50 artt\u0131. ABD Dolar Endeksi (DXY: dolar\u0131n ba\u015fl\u0131ca para birimleri kar\u015f\u0131s\u0131ndaki g\u00fcc\u00fcn\u00fc g\u00f6steren sepet) 98,68 seviyesinde, %0,20 y\u00fckseldi.<\/p>\n

Risk \u0130\u015ftah\u0131 Ve H\u00fcrm\u00fcz Bo\u011faz\u0131<\/h3>\n

ABD-\u0130ran g\u00f6r\u00fc\u015fmelerinde ilerleme s\u0131n\u0131rl\u0131 kald\u0131. Donald Trump, \u0130ran\u2019\u0131n ABD\u2019ye \u201c\u00e7\u00f6k\u00fc\u015f halinde\u201d oldu\u011funu s\u00f6yledi\u011fini ve H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019n\u0131n yeniden a\u00e7\u0131lmas\u0131n\u0131 istedi\u011fini belirtti. \u0130ran, \u00f6nce bo\u011faz\u0131n a\u00e7\u0131lmas\u0131 ve sava\u015f\u0131n bitmesi, ard\u0131ndan n\u00fckleer g\u00f6r\u00fc\u015fmelere ge\u00e7ilmesini \u00f6nerdi; ancak ABD\u2019li yetkililerin \u015f\u00fcpheci kald\u0131\u011f\u0131 bildirildi.<\/p>\n

H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019nda olas\u0131 aksama riskleriyle petrol fiyatlar\u0131 y\u00fcksek seyrini korudu; bu da enflasyon (genel fiyat art\u0131\u015f\u0131) riskini art\u0131rd\u0131. Piyasalar, ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) faiz indirimlerini ertelemesini bekliyor. Bu beklenti ABD tahvil faizlerini ve dolar\u0131 destekliyor.<\/p>\n

Fed karar\u0131 \u00c7ar\u015famba g\u00fcn\u00fc a\u00e7\u0131klanacak. Faizin %3,50\u2013%3,75 aral\u0131\u011f\u0131nda sabit kalmas\u0131 bekleniyor. Piyasalar, Fed Ba\u015fkan\u0131 Jerome Powell\u2019\u0131n a\u00e7\u0131klamalar\u0131ndan y\u00f6nlendirme arayacak.<\/p>\n

ADP \u0130stihdam De\u011fi\u015fimi 4 haftal\u0131k ortalamas\u0131 40,25 binden 39,25 bine geriledi. Conference Board T\u00fcketici G\u00fcveni Endeksi 89 beklentisine kar\u015f\u0131 92,8\u2019e y\u00fckseldi; \u00f6nceki veri 91,8\u2019den (92,2\u2019ye revize edildi) geldi.<\/p>\n

Jeopolitikten Para Politikas\u0131 Fark\u0131na<\/h3>\n

2025\u2019in bu d\u00f6neminde ABD-\u0130ran gerilimi dolar\u0131 g\u00fc\u00e7l\u00fc tutuyor, DXY 98,70 civar\u0131nda seyrediyordu. Bu \u00e7at\u0131\u015fma daha sonra k\u0131r\u0131lgan bir ate\u015fkese d\u00f6n\u00fc\u015ft\u00fc. Ancak odak art\u0131k jeopolitik riskten merkez bankalar\u0131n\u0131n farkl\u0131 para politikalar\u0131na kayd\u0131.<\/p>\n

Fed Nisan 2025\u2019te faizi %3,50\u2013%3,75 aral\u0131\u011f\u0131nda sabit tutmu\u015f, enerji kaynakl\u0131 enflasyonun zay\u0131flamas\u0131yla iki kez faiz indirimi yapm\u0131\u015ft\u0131. Ancak son veriler tersine d\u00f6n\u00fc\u015fe i\u015faret ediyor: Mart 2026 \u00e7ekirdek PCE (ki\u015fisel t\u00fcketim harcamalar\u0131 fiyat endeksi; \u201c\u00e7ekirdek\u201d enerji ve g\u0131da gibi oynak kalemleri d\u0131\u015flar) y\u0131ll\u0131kland\u0131r\u0131lm\u0131\u015f %3,7 geldi. Kal\u0131c\u0131 enflasyon, piyasada bu y\u0131l ek faiz indirimi beklentisini azaltarak dolar\u0131 g\u00fc\u00e7lendirdi.<\/p>\n

Bunun sonucunda 2025\u2019te 0,7900 alt\u0131n\u0131 g\u00f6ren USD\/CHF, yeniden yukar\u0131 y\u00f6nl\u00fc ivme kazand\u0131 ve 0,8120 civar\u0131nda i\u015flem g\u00f6r\u00fcyor. SNB\u2019nin \u201ca\u015f\u0131r\u0131 de\u011ferli frank\u201d uyar\u0131lar\u0131, Fed\u2019in daha \u015fahin (enflasyonla m\u00fccadele i\u00e7in faizleri y\u00fcksek tutmaya yatk\u0131n) duru\u015fuyla aradaki politika fark\u0131 b\u00fcy\u00fcd\u00fck\u00e7e \u00f6nemini yitirdi. Bu durum, \u00f6n\u00fcm\u00fczdeki haftalarda paritede yukar\u0131 y\u00f6n\u00fc destekliyor.<\/p>\n

T\u00fcrev (de\u011ferini ba\u015fka bir varl\u0131ktan alan finansal ara\u00e7lar) i\u015flemleri yapanlar i\u00e7in bu ortam, dolar\u0131n franka kar\u015f\u0131 g\u00fc\u00e7l\u00fc kalaca\u011f\u0131 beklentisini \u00f6ne \u00e7\u0131kar\u0131yor. USD\/CHF\u2019de 0,8200 ve 0,8250 kullan\u0131m fiyatl\u0131 (strike: opsiyonun i\u015flem fiyat\u0131) al\u0131m opsiyonlar\u0131 (call: belirli fiyattan alma hakk\u0131) almak, Haziran ve Temmuz vadeleri i\u00e7in bu e\u011filimden yararlanma amac\u0131yla \u00f6ne \u00e7\u0131k\u0131yor. \u00d6rt\u00fcl\u00fc oynakl\u0131k (implied volatility: opsiyon fiyatlar\u0131na yans\u0131yan beklenen dalgalanma) y\u0131l ba\u015f\u0131ndaki %6,1 dipten %7,8\u2019e y\u00fckseldi; bu, piyasada daha b\u00fcy\u00fck hareket beklentisine i\u015faret ediyor.<\/p>\n

Ayr\u0131ca ABD tahvil getiri e\u011frisi (vadeye g\u00f6re faizlerin dizilimi) belirgin \u015fekilde dikle\u015fti: 2 y\u0131ll\u0131k tahvil faizi %4,85\u2019e \u00e7\u0131kt\u0131; iki ay \u00f6nce %4,30\u2019du. ABD ile \u0130svi\u00e7re aras\u0131ndaki faiz fark\u0131n\u0131n a\u00e7\u0131lmas\u0131, dolar\u0131n g\u00fcc\u00fcn\u00fcn temel unsuru. Bu da sermayenin ABD\u2019de daha y\u00fcksek getiriye y\u00f6nelmesiyle g\u00fc\u00e7l\u00fc dolardan fayda sa\u011flayan stratejileri destekliyor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jeopolitik sis da\u011f\u0131lm\u0131yor: USD\/CHF y\u00fckseli\u015fte. ABD-\u0130ran belirsizli\u011fi dolara talebi art\u0131r\u0131rken SNB frang\u0131 dizginliyor. H\u00fcrm\u00fcz riski petrol\u00fc, enflasyon beklentisini ve Fed\u2019in \u015fahin duru\u015funu destekliyor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-45682","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/45682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=45682"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/45682\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=45682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=45682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=45682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}