{"id":46957,"date":"2026-05-19T06:49:09","date_gmt":"2026-05-19T06:49:09","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/orta-dogu-geriliminin-avroyu-baskilamasiyla-eur-jpy-gerilerken-ecb-faiz-artisi-beklentileri-gorunumu-destekliyor\/"},"modified":"2026-05-19T06:49:09","modified_gmt":"2026-05-19T06:49:09","slug":"orta-dogu-geriliminin-avroyu-baskilamasiyla-eur-jpy-gerilerken-ecb-faiz-artisi-beklentileri-gorunumu-destekliyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/orta-dogu-geriliminin-avroyu-baskilamasiyla-eur-jpy-gerilerken-ecb-faiz-artisi-beklentileri-gorunumu-destekliyor\/","title":{"rendered":"Orta Do\u011fu geriliminin avroyu bask\u0131lamas\u0131yla EUR\/JPY gerilerken, ECB faiz art\u0131\u015f\u0131 beklentileri g\u00f6r\u00fcn\u00fcm\u00fc destekliyor"},"content":{"rendered":"

EUR\/JPY, Sal\u0131 g\u00fcn\u00fc Asya i\u015flemlerinde \u00f6nceki g\u00fcndeki s\u0131n\u0131rl\u0131 y\u00fckseli\u015fin ard\u0131ndan yakla\u015f\u0131k 185,10 seviyesine geriledi. Hareket, \u0130ran ba\u011flant\u0131l\u0131 Orta Do\u011fu belirsizli\u011fi s\u00fcrerken Euro\u2019nun zay\u0131flamas\u0131ndan kaynakland\u0131.<\/p>\n

Euro\u2019daki d\u00fc\u015f\u00fc\u015f, ECB (Avrupa Merkez Bankas\u0131) politika yap\u0131c\u0131s\u0131 Yannis Stournaras\u2019\u0131n son a\u00e7\u0131klamalar\u0131yla s\u0131n\u0131rl\u0131 kald\u0131. Stournaras, \u201cm\u00fctevaz\u0131\u201d bir faiz art\u0131\u015f\u0131n\u0131n enflasyonu (fiyat art\u0131\u015flar\u0131n\u0131) ekonomiye zarar vermeden frenleyebilece\u011fini s\u00f6yledi. Reuters anketine g\u00f6re ekonomistlerin yakla\u015f\u0131k %85\u2019i, ECB\u2019nin haziranda mevduat faizini (bankalar\u0131n ECB\u2019de tuttuklar\u0131 paraya uygulanan faiz) 25 baz puan art\u0131rarak %2,25\u2019e \u00e7\u0131karaca\u011f\u0131n\u0131 \u00f6ng\u00f6r\u00fcyor. (25 baz puan = %0,25 puan.) Bu oran, nisan toplant\u0131s\u0131 \u00f6ncesinde kat\u0131l\u0131mc\u0131lar\u0131n sadece yar\u0131dan biraz fazlas\u0131n\u0131n beklentisiydi.<\/p>\n

G\u00fc\u00e7l\u00fc B\u00fcy\u00fcmeye Ra\u011fmen Yen Zay\u0131f<\/h3>\n

Parite, Japon Yeni g\u00fc\u00e7l\u00fc kalamad\u0131\u011f\u0131 i\u00e7in de destek buldu. Japonya\u2019n\u0131n GSYH\u2019si (Gayrisafi Yurti\u00e7i Has\u0131la: \u00fclkenin toplam \u00fcretimi) 2026\u2019n\u0131n ilk \u00e7eyre\u011finde \u00e7eyreklik bazda %0,5 artt\u0131. Bu, 2025\u2019in 4. \u00e7eyre\u011finde a\u015fa\u011f\u0131 y\u00f6nl\u00fc revize edilen %0,2\u2019nin \u00fczerinde ve %0,4 beklentisini a\u015farak 2024\u2019\u00fcn 3. \u00e7eyre\u011finden bu yana en g\u00fc\u00e7l\u00fc art\u0131\u015f oldu.<\/p>\n

Y\u0131ll\u0131kland\u0131r\u0131lm\u0131\u015f bazda (\u00e7eyreklik b\u00fcy\u00fcmenin y\u0131l geneline yay\u0131lm\u0131\u015f hali) GSYH, 1. \u00e7eyrekte %2,1 artt\u0131. Bu oran, \u00f6nceki \u00e7eyrekte a\u015fa\u011f\u0131 y\u00f6nl\u00fc revize edilen %0,8\u2019in \u00fczerinde ve %1,7 tahminini a\u015farak son alt\u0131 \u00e7eyre\u011fin en h\u0131zl\u0131 art\u0131\u015f\u0131na i\u015faret etti. Ekonomi Bakan\u0131 Minoru Kiuchi, Orta Do\u011fu\u2019daki \u00e7at\u0131\u015fman\u0131n ve fiyat art\u0131\u015flar\u0131n\u0131n hanehalk\u0131 ile \u015firketler \u00fczerindeki etkileri izlenerek h\u0131zl\u0131 ad\u0131m at\u0131laca\u011f\u0131n\u0131 s\u00f6yledi.<\/p>\n

Politika Ayr\u0131\u015fmas\u0131 Ve \u0130\u015flem Etkileri<\/h3>\n

Bu, merkez bankalar\u0131n\u0131n politika ayr\u0131\u015fmas\u0131d\u0131r (birinin faiz art\u0131r\u0131rken di\u011ferinin d\u00fc\u015f\u00fck faiz politikas\u0131n\u0131 s\u00fcrd\u00fcrmesi). Benzer bir tablo 2025 boyunca g\u00f6r\u00fclm\u00fc\u015ft\u00fc: ECB s\u0131k\u0131la\u015fma (faiz art\u0131r\u0131m\u0131 ve para politikas\u0131n\u0131 daha k\u0131s\u0131tlay\u0131c\u0131 hale getirme) sinyali verirken BoJ (Japonya Merkez Bankas\u0131) d\u00fc\u015f\u00fck faiz politikas\u0131n\u0131 korumu\u015f, EUR\/JPY\u2019yi 170\u2019li seviyelerin alt\u0131ndan mevcut seviyelere ta\u015f\u0131m\u0131\u015ft\u0131. Ge\u00e7mi\u015f, bu e\u011filimin ivme ta\u015f\u0131yabilece\u011fini ve \u00e7apraz kurun (iki yabanc\u0131 para aras\u0131ndaki kur) yukar\u0131 y\u00f6n\u00fcn\u00fc s\u00fcrd\u00fcrebilece\u011fini g\u00f6steriyor.<\/p>\n

T\u00fcrev \u00fcr\u00fcnler (dayanak varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler) ile i\u015flem yapanlar i\u00e7in bu ortam, EUR\/JPY\u2019de uzun pozisyonlar\u0131 (fiyat y\u00fckseli\u015finden kazan\u00e7 hedefleyen i\u015flemler) \u00f6ne \u00e7\u0131kar\u0131yor. Temmuz veya A\u011fustos 2026 vadeli al\u0131m opsiyonu (call: belirli fiyattan alma hakk\u0131) almak, haziran ECB toplant\u0131s\u0131n\u0131n etkisiyle beklenen y\u00fckseli\u015fi hedeflemeye yard\u0131mc\u0131 olabilir. Bo\u011fa al\u0131m spread\u2019i (bull call spread: 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 satmak) primi (opsiyon maliyeti) d\u00fc\u015f\u00fcrerek, 188-190 band\u0131na y\u00fckseli\u015ften faydalanmay\u0131 sa\u011flayabilir.<\/p>\n

Ana risk, Orta Do\u011fu\u2019da belirgin bir t\u0131rmanma. Bu durum g\u00fcvenli limana ka\u00e7\u0131\u015f\u0131 (riskten ka\u00e7\u0131nan yat\u0131r\u0131mc\u0131n\u0131n daha g\u00fcvenli g\u00f6rd\u00fc\u011f\u00fc varl\u0131klara y\u00f6nelmesi) tetikleyebilir ve Yeni beklenmedik \u015fekilde g\u00fc\u00e7lendirebilir. Ayr\u0131ca piyasa, ECB ileti\u015fimini yak\u0131ndan izlemeli; hazirandaki faiz art\u0131\u015f\u0131na dair teredd\u00fct sinyali, bu y\u00fckseli\u015f beklentisini h\u0131zla ge\u00e7ersiz k\u0131labilir.<\/p>\n","protected":false},"excerpt":{"rendered":"

EUR\/JPY 185,10\u2019a \u00e7ekildi: Euro jeopolitik belirsizlikle zay\u0131f. ECB\u2019nin haziranda 25 bp art\u0131\u015f\u0131 fiyatlan\u0131yor. Japonya g\u00fc\u00e7l\u00fc b\u00fcy\u00fcse de Yen tepkisiz. Politika ayr\u0131\u015fmas\u0131 188-190 hedefli long\/call spread\u2019i destekliyor; Orta Do\u011fu t\u0131rman\u0131\u015f\u0131 ve ECB teredd\u00fcd\u00fc risk.<\/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-46957","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\/46957","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=46957"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46957\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}