\u00c7ekya enflasyonu beklentilerin alt\u0131nda ger\u00e7ekle\u015fti; ancak g\u00fc\u00e7l\u00fc \u00fccret art\u0131\u015f\u0131 ve istikrarl\u0131 \u00e7ekirdek enflasyon, \u00c7ek Merkez Bankas\u0131\u2019n\u0131n (CNB) gelecek hafta yap\u0131lacak Haziran toplant\u0131s\u0131nda faiz art\u0131r\u0131m\u0131 yapabilecek bir konumda oldu\u011funu g\u00f6steriyor. Toplant\u0131 \u00f6ncesi \u201csessizlik\u201d (blackout) d\u00f6nemi Per\u015fembe g\u00fcn\u00fc ba\u015fl\u0131yor ve o tarihe kadar kuruldan ilave ileti\u015fim gelmesi bekleniyor.<\/p>\n
Piyasalar Haziran art\u0131r\u0131m\u0131n\u0131 b\u00fcy\u00fck \u00f6l\u00e7\u00fcde fiyatlam\u0131\u015f durumda; ancak karar, yat\u0131r\u0131mc\u0131lar\u0131n bunun bir s\u0131k\u0131la\u015ft\u0131rma d\u00f6ng\u00fcs\u00fcn\u00fcn ba\u015flang\u0131c\u0131 olup olmad\u0131\u011f\u0131n\u0131 tartmas\u0131yla d\u00f6viz piyasas\u0131n\u0131 yine de etkileyebilir. CNB ad\u0131m\u0131 bir seri ba\u015flang\u0131c\u0131 olarak \u00e7er\u00e7evelemese bile, fiyatlamalar ilave s\u0131k\u0131la\u015ft\u0131rmaya do\u011fru kayabilir. Bu senaryoda EUR\/CZK paritesi gelecek hafta 24,00 seviyesini test edebilir; \u00c7ekya\u2019n\u0131n geli\u015fmekte olan piyasalar (EM) i\u00e7inde erken faiz art\u0131ran \u00fclke olarak \u00f6ne \u00e7\u0131kmas\u0131 halinde korunan\u0131n daha da g\u00fc\u00e7lenmesi i\u00e7in alan bulunuyor.<\/p>\n
\u00c7ek Merkez Bankas\u0131\u2019n\u0131n bu ay\u0131n ilerleyen g\u00fcnlerindeki toplant\u0131s\u0131nda faiz art\u0131rma y\u00f6n\u00fcnde net bir patikada oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz. May\u0131s enflasyonunun %2,8 ile beklentilerin hafif alt\u0131nda kalmas\u0131na ra\u011fmen, ilk \u00e7eyrekte %6,5\u2019e ula\u015fan kal\u0131c\u0131 \u00fccret art\u0131\u015flar\u0131 bankay\u0131 ad\u0131m atmaya zorluyor. Bu i\u00e7 kaynakl\u0131 bask\u0131, faiz art\u0131r\u0131m\u0131n\u0131 neredeyse kesin hale getiriyor.<\/p>\n
Piyasa bu hamleyi halihaz\u0131rda \u00f6nden sat\u0131n ald\u0131; fiyatlamalar \u00e7eyrek puanl\u0131k bir art\u0131r\u0131m olas\u0131l\u0131\u011f\u0131n\u0131n %85\u2019in \u00fczerinde oldu\u011funa i\u015faret ediyor. Yine de s\u0131k\u0131la\u015ft\u0131rma d\u00f6ng\u00fcs\u00fcn\u00fcn resmen ba\u015flamas\u0131n\u0131n koruna i\u00e7in ek bir destek yarataca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyoruz. Bankan\u0131n temkinli s\u00f6ylemine ra\u011fmen yat\u0131r\u0131mc\u0131lar, y\u0131l\u0131n ilerleyen d\u00f6nemleri i\u00e7in daha fazla art\u0131r\u0131m fiyatlamaya ba\u015flayabilir.<\/p>\n
\u0130\u015flem taraf\u0131nda bu g\u00f6r\u00fcn\u00fcm, \u00f6n\u00fcm\u00fczdeki birka\u00e7 hafta i\u00e7inde euro kar\u015f\u0131s\u0131nda daha g\u00fc\u00e7l\u00fc bir korunaya pozisyon almak i\u00e7in f\u0131rsat yarat\u0131yor. EUR\/CZK paritesi \u015fu anda 24,35 civar\u0131ndayken, 24,10 kullan\u0131m fiyat\u0131na yak\u0131n put opsiyonlar\u0131 almak; 24,00 seviyesine do\u011fru bir hareketi hedeflemek a\u00e7\u0131s\u0131ndan mant\u0131kl\u0131 bir strateji olarak \u00f6ne \u00e7\u0131k\u0131yor. Bu, belirli bir riskle korunan\u0131n beklenen g\u00fcc\u00fcnden faydalanma imk\u00e2n\u0131 sunuyor.<\/p>\n
\u00c7ekya, geli\u015fmekte olan piyasalar i\u00e7inde erken faiz art\u0131ran \u00fclke olarak konumlan\u0131yor; bu da yabanc\u0131 yat\u0131r\u0131m\u0131n ilgisini \u00e7ekebilir. Bu durum, CNB\u2019nin agresif ve erken ad\u0131mlar\u0131n\u0131n korunada belirgin bir \u00fcst\u00fcn performansa yol a\u00e7t\u0131\u011f\u0131 2021-2022 d\u00f6ng\u00fcs\u00fcn\u00fc hat\u0131rlat\u0131yor. Bu tarihsel \u00f6r\u00fcnt\u00fc, para biriminin buradan itibaren de\u011fer kazanma potansiyeli ta\u015f\u0131d\u0131\u011f\u0131 g\u00f6r\u00fc\u015f\u00fcm\u00fcz\u00fc destekliyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00c7ekya\u2019da enflasyon s\u00fcrprizi s\u0131n\u0131rl\u0131 kalsa da \u00fccret bask\u0131s\u0131 CNB\u2019yi Haziran\u2019da faize itiyor. Piyasa %85 fiyatl\u0131yor; EUR\/CZK 24,00 test edebilir. Put opsiyonlar\u0131 \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":47684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49678","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/49678","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=49678"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/47684"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=49678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=49678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=49678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}