Euro B\u00f6lgesi\u2019nde CFTC verilerine g\u00f6re euroda **ticari olmayan** (spek\u00fclat\u00f6r) net pozisyonlar, \u00f6nceki okumadaki 40,2 bin seviyesinden **33,5 bin**e geriledi. Bu de\u011fi\u015fim, son raporlama d\u00f6neminde euro vadeli i\u015flemlerinde (vadeliler: gelecekte belirli bir fiyattan al\u0131m-sat\u0131m s\u00f6zle\u015fmeleri) **net uzun** (al\u0131m y\u00f6nl\u00fc) duru\u015fun zay\u0131flad\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n
CFTC verileri, d\u00f6viz vadeli i\u015flemlerinde spek\u00fclatif pozisyonlar\u0131 izler ve **ticari olmayan hesaplar\u0131** (k\u00e2r ama\u00e7l\u0131 i\u015flem yapan b\u00fcy\u00fck yat\u0131r\u0131mc\u0131lar) **ticari korunma** yapanlardan (kur riskine kar\u015f\u0131 \u201chedge\u201d eden \u015firketler; hedge: fiyat\/kur riskini azaltmak i\u00e7in ters i\u015flemle korunma) ay\u0131r\u0131r. Son harekette net rakam 6,7 bin azalarak 40,2 binden 33,5 bine indi.<\/p>\n
Euroda net al\u0131m pozisyonlar\u0131n\u0131n azalt\u0131lmas\u0131, piyasa alg\u0131s\u0131nda belirgin bir de\u011fi\u015fime i\u015faret ediyor. 40,2 binden 33,5 bine d\u00fc\u015f\u00fc\u015f, baz\u0131 b\u00fcy\u00fck oyuncular\u0131n k\u00e2r realizasyonu (k\u00e2r\u0131 cebe koyma) yapt\u0131\u011f\u0131n\u0131 veya y\u00fckseli\u015f y\u00f6nl\u00fc bahislerini azaltt\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu durum, EUR\/USD paritesinde (iki para birimi aras\u0131ndaki kur) yukar\u0131 y\u00f6nl\u00fc h\u0131z\u0131n zay\u0131flayabilece\u011fine i\u015faret ediyor.<\/p>\n
Bu de\u011fi\u015fim, Euro B\u00f6lgesi enflasyonunun %2,1\u2019e gerileyerek ECB\u2019nin (Avrupa Merkez Bankas\u0131) hedefine yakla\u015fmas\u0131yla da uyumlu. Ayr\u0131ca imalat PMI\u2019\u0131n (sat\u0131n alma y\u00f6neticileri endeksi; 50\u2019nin alt\u0131 daralma anlam\u0131na gelir) 49,5\u2019e d\u00fc\u015ferek daralmaya i\u015faret etmesi, ECB\u2019nin (faiz ve para politikas\u0131 kararlar\u0131n\u0131 belirleyen kurum) daha temkinli bir ton kullanabilece\u011fi beklentisini g\u00fc\u00e7lendiriyor. Ekonomideki bu yumu\u015fama, euroda al\u0131m pozisyonu ta\u015f\u0131may\u0131 daha az cazip k\u0131l\u0131yor.<\/p>\n
Di\u011fer yandan ABD ekonomisi daha dayan\u0131kl\u0131 g\u00f6r\u00fcn\u00fcyor. Son istihdam verisi beklentilerin \u00fczerinde gelirken i\u015f g\u00fcc\u00fc piyasas\u0131n\u0131n g\u00fc\u00e7l\u00fc seyretti\u011fine i\u015faret etti. Bu ayr\u0131\u015fma dolar\u0131 destekliyor; \u00e7\u00fcnk\u00fc Fed\u2019e (ABD Merkez Bankas\u0131) mevcut para politikas\u0131 duru\u015funu daha uzun s\u00fcre korumak i\u00e7in alan sa\u011fl\u0131yor. Politika fark\u0131n\u0131n b\u00fcy\u00fcmesi, eurodan \u00e7\u0131k\u0131\u015f ve yeniden pozisyonlanman\u0131n (portf\u00f6ydeki y\u00f6n\u00fc de\u011fi\u015ftirme) ana nedenlerinden biri olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n
Yat\u0131r\u0131mc\u0131lar a\u00e7\u0131s\u0131ndan bu, riskten korunma (hedge) veya d\u00fc\u015f\u00fc\u015f y\u00f6nl\u00fc pozisyon d\u00fc\u015f\u00fcnmek i\u00e7in bir sinyal olabilir. EUR\/USD\u2019de **out-of-the-money put** (kullan\u0131m fiyat\u0131 mevcut kurun alt\u0131nda olan sat\u0131m opsiyonu; d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 sigorta) almak olas\u0131 geri \u00e7ekilmeye kar\u015f\u0131 koruma sa\u011flayabilir. Alternatif olarak **call spread satmak** (iki farkl\u0131 kullan\u0131m fiyat\u0131yla al\u0131m opsiyonu sat\u0131p\/al\u0131p getiri aral\u0131\u011f\u0131 olu\u015fturmak; yatay ya da s\u0131n\u0131rl\u0131 d\u00fc\u015f\u00fc\u015f beklentisiyle) \u00f6n\u00fcm\u00fczdeki haftalarda yatay veya hafif a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareketten faydalanman\u0131n bir yolu olabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
Euro\u2019da \u00e7anlar m\u0131 \u00e7al\u0131yor? CFTC\u2019ye g\u00f6re spek\u00fclat\u00f6rlerin net uzun euro pozisyonu 40,2 binden 33,5 bine indi; zay\u0131f veriler ve ABD\u2019nin g\u00fcc\u00fc EUR\/USD\u2019de ivme kayb\u0131 riskini art\u0131r\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-47271","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\/47271","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=47271"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47271\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}