Global markets react to strong US dollar and gold price declines

Global financial markets are reacting to rising US Treasury yields and anticipation of the US September non-farm payrolls report. The US dollar index has reached a 17-month high, testing the 102 level, which has placed significant pressure on gold prices. Gold is currently experiencing a downward trend, with spot prices hovering around $4,170 per ounce, marking its second consecutive weekly loss.

Geopolitical tensions between the US and Iran are also influencing market volatility. Reports of potential US military deployments in the Middle East have contributed to fluctuations in oil prices, which in turn impacts inflation expectations and Federal Reserve policy decisions.

In Turkey, the US dollar has reached a new record against the Lira, trading at 49.14 TL. This surge coincides with a reported five-week decline in the reserves of the Central Bank of the Republic of Türkiye. Investors remain focused on upcoming US employment data to gauge the likelihood of future interest rate adjustments by the Federal Reserve.