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Turkey - Factors to watch on July 1

ReutersJul 1, 2025 4:47 AM

- Here are news, reports and events that may affect Turkish financial markets on Tuesday.

The lira TRYTOM=D3 traded at 39.828 against the U.S. dollar at 0442 GMT, compared with a close on Monday of 39.825.

The main BIST 100 share index .XU100 closed 5.8% higher at 9.948.51 points on Monday.

GLOBAL MARKETS

Asian shares crept higher and the dollar languished near multi-year lows on Tuesday as markets awaited a vote over U.S. President Donald Trump's landmark tax and spending legislation. Global shares reached an intraday record on Monday on trade optimism.

TURKISH MARKETS

Turkey's lira rallied on Monday, avoiding touching 40 to the dollar, after a Turkish court postponed a hearing in a case that could strip the leader of the main opposition party CHP of his post by potentially annulling a 2023 congress where he was elected.

ISTANBUL INFLATION DATA

Istanbul Chamber of Commerce will release inflation data for Turkey's largest city. (0900 GMT)

ERDOGAN PROGRAMME

Turkish President Tayyip Erdogan will attend a breakfast meeting with MPs (0800 GMT), and also the Extended Provincial Presidents Meeting held at his AK Party's headquarters (1100 GMT).

IRAQ'S HOUSE SPEAKER

Turkish Parliamentary Speaker Numan Kurtulmus will meet Speaker of the Iraqi House of Representatives Mahmud Meshedani in Ankara and hold a press conference (1035 GMT). The General Assembly will also hold a session.

TRADE MINISTER

Trade Minister Omer Bolat will attend the opening of the "EU-Turkey High Level Trade Dialogue" meeting.

OPPOSITION LEADERS

Main opposition CHP Chairman Ozgur Ozel will attend a meeting including party members in Istanbul (1030 GMT), followed by a rally in the city (1730 GMT). DEM and HDP parliamentary group meetings will be held in Ankara.

CARTOONIST DETAINED

Turkish authorities on Monday detained three cartoonists over a satirical drawing published by weekly magazine Leman that seemed to depict Prophets Moses and Muhammad shaking hands in the sky, while missiles flew below in a scene resembling war. A protest is planned on Tuesday at the magazine's headquarters in Istanbul.

WILDFIRES

Firefighters continue to battle wildfires and more than 50,000 people have been evacuated from five regions, including more than 42,000 in Izmir, Turkey's AFAD emergency management authority said on Monday.

For other related news, double-click on:

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