Euro B\u00f6lgesi\u2019nde perakende ticaret Mart ay\u0131nda ayl\u0131k bazda %0,1 gerilerken, AB genelinde perakende sat\u0131\u015flar %0,3 artt\u0131. Y\u0131ll\u0131k bazda perakende hacmi (sat\u0131lan mal miktar\u0131) Euro B\u00f6lgesi\u2019nde %1,2, AB\u2019de %1,9 y\u00fckseldi.<\/p>\n
Euro B\u00f6lgesi\u2019nde in\u015faat faaliyeti Nisan\u2019da zay\u0131flad\u0131; \u0130n\u015faat PMI (Sat\u0131n Alma Y\u00f6neticileri Endeksi: firmalar\u0131n yeni sipari\u015f, \u00fcretim ve istihdam gibi kalemlere g\u00f6re faaliyet h\u0131z\u0131n\u0131 \u00f6l\u00e7en anket endeksi) Mart\u2019taki 44,6\u2019dan 41,7\u2019ye indi. Bu seviye A\u011fustos 2024\u2019ten bu yana en d\u00fc\u015f\u00fck de\u011fer olurken, uzun s\u00fcredir devam eden daralmay\u0131 (ekonomik faaliyette k\u00fc\u00e7\u00fclme) teyit etti.<\/p>\n
Birle\u015fik Krall\u0131k\u2019taki yerel se\u00e7imler \u00f6nemli bir siyasi geli\u015fme olarak \u00f6ne \u00e7\u0131kt\u0131. \u0130\u015f\u00e7i Partisi\u2019nin 2.000\u2019den fazla belediye meclis koltu\u011fu kaybetmesi, iktidar partisi i\u00e7in beklentiden k\u00f6t\u00fc bir sonu\u00e7 olarak de\u011ferlendirildi; bunun b\u00fct\u00e7e harcamas\u0131 beklentileri (kamu harcamalar\u0131n\u0131n artma ihtimali) \u00fczerinde etkisi olabilece\u011fi belirtildi.<\/p>\n
Avrupa\u2019da veriler kar\u0131\u015f\u0131k bir tabloya i\u015faret ediyor; bu durum t\u00fcrev \u00fcr\u00fcn i\u015flemleri (dayanak varl\u0131\u011f\u0131n fiyat\u0131na ba\u011fl\u0131 s\u00f6zle\u015fmeler) i\u00e7in f\u0131rsat yarat\u0131yor. Eurostat\u2019\u0131n Nisan 2026 verileri, Mart\u2019taki s\u0131n\u0131rl\u0131 perakende b\u00fcy\u00fcmesinin durdu\u011funu g\u00f6sterirken, HCOB \u0130n\u015faat PMI 41,9 ile sert bir daralmay\u0131 teyit etti. T\u00fcketici taraf\u0131 ile sanayi taraf\u0131 aras\u0131ndaki bu ayr\u0131\u015fma, ekonomideki k\u0131r\u0131lganl\u0131\u011f\u0131 (\u015foklara a\u00e7\u0131k olma) art\u0131r\u0131yor.<\/p>\n
\u00dclkelere g\u00f6re tablo \u00e7ok farkl\u0131 oldu\u011fu i\u00e7in Euro B\u00f6lgesi\u2019ne dair \u201cgenel\u201d y\u00f6n bahisleri riskli. Ge\u00e7en \u00e7eyrekte Almanya imalat\u0131na y\u00f6nelik iyimserlik olsa da, Destatis\u2019in Mart 2026 verileri fabrika sipari\u015flerinde (sanayinin ald\u0131\u011f\u0131 yeni sipari\u015fler) hafif d\u00fc\u015f\u00fc\u015fe i\u015faret etti. Fransa\u2019da ise d\u0131\u015f ticaret dengesi (ihracat-ithalat fark\u0131) sorun olmaya devam ediyor; 2025-2026 k\u0131\u015f\u0131nda y\u00fckselen enerji ithalat maliyetleri bu tabloyu daha da bozdu.<\/p>\n
Ge\u00e7en haftaki Birle\u015fik Krall\u0131k yerel se\u00e7imlerinin siyasi sonu\u00e7lar\u0131 da yak\u0131ndan izleniyor. \u0130ktidardaki \u0130\u015f\u00e7i Partisi\u2019nin performans\u0131n\u0131n beklentiden zay\u0131f kalmas\u0131, kamu harcamalar\u0131n\u0131 art\u0131rarak se\u00e7men deste\u011fini yeniden kazanma ihtimalini g\u00fcndeme getiriyor. Bu bask\u0131, 2025 sonundan beri s\u00fcren Avrupa tahvil rallisini (tahvil fiyatlar\u0131n\u0131n y\u00fckselmesi, faizlerin d\u00fc\u015fmesi) sona erdirebilir; bu nedenle tahvil vadeli i\u015flemlerinde (gelecekte teslimat\/uzla\u015fma i\u00e7in yap\u0131lan standart s\u00f6zle\u015fmeler) \u201cput opsiyonu\u201d (fiyat d\u00fc\u015f\u00fc\u015f\u00fcne kar\u015f\u0131 kazan\u00e7 sa\u011flayan opsiyon) de\u011ferlendirilebilir.<\/p>\n
D\u00f6viz taraf\u0131nda bu unsurlar, euro i\u00e7in dolar kar\u015f\u0131s\u0131nda a\u015fa\u011f\u0131 y\u00f6nl\u00fc e\u011filimi g\u00fc\u00e7lendiriyor. EUR\/USD paritesi 1,08 civar\u0131ndaki banttan yukar\u0131 k\u0131rmakta zorlan\u0131rken, b\u00fct\u00e7e riskleri ve zay\u0131f sanayi verileri a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareket ihtimalini art\u0131r\u0131yor. \u00d6n\u00fcm\u00fczdeki haftalar i\u00e7in EUR\/USD\u2019de put opsiyonu almak ya da s\u0131k\u0131 zarar-kes (fiyat tersine d\u00f6nd\u00fc\u011f\u00fcnde zarar\u0131 s\u0131n\u0131rlayan otomatik\/\u00f6nceden belirlenmi\u015f seviye) ile k\u0131sa pozisyon (d\u00fc\u015f\u00fc\u015f beklentisiyle sat\u0131\u015f y\u00f6nl\u00fc i\u015flem) ta\u015f\u0131mak daha makul g\u00f6r\u00fcn\u00fcyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Avrupa\u2019da tablo kar\u0131\u015f\u0131k: Euro B\u00f6lgesi perakende Mart\u2019ta %-0,1, in\u015faat PMI Nisan\u2019da 41,7\u2019ye \u00e7ak\u0131ld\u0131. UK se\u00e7imleri b\u00fct\u00e7e riskini art\u0131r\u0131yor. EUR\/USD\u2019de a\u015fa\u011f\u0131 y\u00f6n, tahvilde put opsiyonu \u00f6ne \u00e7\u0131k\u0131yor.<\/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-46400","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\/46400","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=46400"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46400\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}