As uncertainty in the Middle East persisted this week, inflation data released in the U.S. became the main focus of the markets. While high geopolitical risks continued to exert upward pressure on oil prices, U.S. inflation indicators, which painted a more positive picture than expected, strengthened expectations that the Fed would keep its policy rate unchanged at its July meeting.

The central government budget posted a surplus of 114.2 billion TRY in June.

In May, the current account posted a deficit of 1.5 billion USD, exceeding market expectations.

Oil prices fell back to their pre-geopolitical tension levels in the final days of June.

Monthly CPI inflation in June came in at 0.99%, in line with market expectations and at its lowest level this year.

Turkish economy grew by 2.5% yoy in the first quarter.