\u0130svi\u00e7re\u2019nin ZEW anketi, beklentilerin nisanda \u00f6nceki -35 seviyesinden -30,3\u2019e y\u00fckseldi\u011fini g\u00f6sterdi.<\/p>\n
Son \u0130svi\u00e7re ZEW anketi, ekonomik beklentilerin nisan i\u00e7in -30,3\u2019e y\u00fckseldi\u011fine i\u015faret ediyor; bu, \u00f6nceki -35 okumas\u0131na g\u00f6re belirgin bir iyile\u015fme. G\u00f6sterge h\u00e2l\u00e2 g\u00fc\u00e7l\u00fc bi\u00e7imde k\u00f6t\u00fcmser b\u00f6lgede olsa da y\u00f6n\u00fcn pozitife d\u00f6nmesi, olumsuz havan\u0131n en k\u00f6t\u00fc k\u0131sm\u0131n\u0131n geride kal\u0131yor olabilece\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. Bu durumu, \u0130svi\u00e7re varl\u0131klar\u0131nda bir \u201cdip olu\u015fumu\u201d (fiyatlar\u0131n d\u00fc\u015f\u00fc\u015ften sonra taban bulup yatayla\u015fmas\u0131) s\u00fcrecinin ba\u015flayabilece\u011fine dair bir i\u015faret olarak de\u011ferlendiriyoruz.<\/p>\n
\u0130svi\u00e7re frang\u0131 a\u00e7\u0131s\u0131ndan bu veri, \u0130svi\u00e7re Merkez Bankas\u0131\u2019n\u0131n (SNB) daha sert faiz indirimlerine gitmesi \u00fczerindeki bask\u0131y\u0131 azaltabilir. Son d\u00f6nemde (2025 sonu ve 2026 ba\u015f\u0131) SNB\u2019nin daha \u201cg\u00fcvercin\u201d (faiz indirimine daha yatk\u0131n) bir tutum benimsemesiyle frank\u0131n euro kar\u015f\u0131s\u0131nda zay\u0131flad\u0131\u011f\u0131 g\u00f6r\u00fcld\u00fc; EUR\/CHF paritesi (euro\/frank kuru) son olarak 0,9850 civar\u0131nda i\u015flem g\u00f6rd\u00fc. Yat\u0131r\u0131mc\u0131lar EUR\/CHF\u2019de \u201cout-of-the-money\u201d (kullan\u0131m fiyat\u0131 mevcut kurun \u00fczerinde oldu\u011fu i\u00e7in \u015fu an k\u00e2ra ge\u00e7memi\u015f) al\u0131m opsiyonlar\u0131n\u0131 (belirli bir tarihe kadar belirli bir fiyattan alma hakk\u0131 veren s\u00f6zle\u015fme) satarak, ekonomik k\u00f6t\u00fcmserli\u011fin azalmas\u0131n\u0131n franktaki ilave zay\u0131flamay\u0131 s\u0131n\u0131rlayaca\u011f\u0131 beklentisine oynayabilir.<\/p>\n
Biraz iyile\u015fen g\u00f6r\u00fcn\u00fcm, bu y\u0131l Avrupa benzerlerine g\u00f6re zay\u0131f kalan \u0130svi\u00e7re Piyasa Endeksi\u2019ne (SMI) destek verebilir. SMI opsiyonlar\u0131nda z\u0131mni oynakl\u0131\u011f\u0131n (opsiyon fiyatlar\u0131n\u0131n ima etti\u011fi beklenen dalgalanma) son d\u00f6nemde y\u00fczde 14 ile 3 ay\u0131n en d\u00fc\u015f\u00fck seviyesine gerilemesi, temel k\u0131r\u0131lganl\u0131\u011fa ra\u011fmen piyasan\u0131n rahat davrand\u0131\u011f\u0131n\u0131 g\u00f6sterebilir. Daha temkinli bir yakla\u015f\u0131m olarak SMI\u2019da uzun vadeli \u201ccall spread\u201d (ayn\u0131 vadede daha d\u00fc\u015f\u00fck kullan\u0131m fiyat\u0131ndan al\u0131m opsiyonu al\u0131p daha y\u00fcksek kullan\u0131m fiyat\u0131ndan al\u0131m opsiyonu satarak maliyeti ve riski s\u0131n\u0131rlayan strateji) de\u011ferlendirilebilir; bu, riski s\u0131n\u0131rlarken kademeli toparlanmaya pozisyon al\u0131r.<\/p>\n","protected":false},"excerpt":{"rendered":"
S\u00fcrpriz iyile\u015fme: \u0130svi\u00e7re ZEW beklentisi nisan\u2019da -35\u2019ten -30,3\u2019e y\u00fckseldi. K\u00f6t\u00fcmserlik s\u00fcrse de dip sinyali g\u00fc\u00e7leniyor; SNB indirim bask\u0131s\u0131 azalabilir, EUR\/CHF zay\u0131fl\u0131\u011f\u0131 s\u0131n\u0131rlanabilir, SMI\u2019ya destek gelebilir.<\/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-45728","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\/45728","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=45728"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/45728\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=45728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=45728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=45728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}