VİOP Contracts Surge 1.46% at Open as US-Iran Tensions Ease

August-dated index contracts started the week with strong buying pressure, reversing Friday's selling wave. The temporary pause in geopolitical tensions between the US and Iran revived global risk appetite, with the index contract trading at 16,491.00 points, up 1.46% at the opening.

Risk Appetite Returns Amidst Geopolitical Shadows

Markets welcomed the decision of the US and Iran to halt mutual attacks with relief, easing concerns that had risen towards the weekend. This development triggered a strong technical rebound on the August contracts, which had closed down 0.84% on Friday and retreated to 16,244.00 points during the evening session. Investors are observing that the positive trend in global markets is being capitalized on as a buying opportunity locally.

Data Agenda and Technical Resistances

While the domestic agenda remains quiet, investors' radar is fixed on critical macroeconomic data abroad. Analysts highlight the data flow that will determine market direction:

■The Ifo business climate index in Germany will provide clues regarding the European economy.

■In the US, durable goods orders and the Dallas Fed manufacturing index will be monitored.

■In technical analysis, 16,600 and 16,700 points are marked as major resistance levels, while 16,400 and 16,300 points stand as strong support levels for the index contract.

Markets are shifting into risk-on mode on the perception that geopolitical risks are "contained." However, signals from the Dallas Fed manufacturing data regarding the resilience of the US economy could reshape expectations regarding the interest rate path. The current rise should be assessed not just as a technical reaction, but as a breathing spell amidst geopolitical tensions.