Turkey - Factors to Watch on June 5
ISTANBUL, June 5 (Reuters) -Here are news, reports and events that may affect Turkish financial markets on Monday.
The lira TRYTOM=D3 weakened to 21.12 against the dollar by 0425 GMT from a close of 20.9 on Friday.
The main BIST 100 share index .XU100 closed 3.13% higher at 5,114.97 points on Friday.
GLOBAL MARKETS
Most Asian stock markets extended a global rally on Monday on optimism the Federal Reserve would pause its rate hikes this month after a mixed U.S. jobs report, while oil jumped after Saudi Arabia pledged big output cuts.
INFLATION DATA TRCPIY=ECI
The Turkish Statistical Institute will release May inflation data (0700 GMT). Annual inflation is seen dropping below 40% in May, to its lowest since late-2021, a Reuters poll showed, as the government's decision to provide natural gas free of charge offset price rises in other goods.
NEW CABINET ANNOUNCED
President Tayyip Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic policies when he named Mehmet Simsek to his cabinet to tackle Turkey's cost-of-living crisis and other strains.
SIMSEK COMMENTS
Turkey's newly appointed Finance Minister Simsek said on Sunday that the country has no choice but to return to "rational ground" to ensure predictability in the economy.
STOLTENBERG
An agreement on Sweden joining NATO could be reached in time for a summit of the alliance next month in Lithuania, NATO Secretary-General Jens Stoltenberg said on Sunday after meeting Turkish President Erdogan.
GOLDMAN SACHS
Goldman Sachs revised its Turkish lira forecast in the wake of President Erdogan's cabinet revamp, saying it now expected the currency to weaken to 28 to the dollar in 12 months compared with a previous prediction of 22.
NEW VICE PRESIDENT
Cevdet Yilmaz will take over the role of vice president from Fuat Oktay in a ceremony (0630 GMT).
NEW FOREIGN MINISTER
Former intelligence chief Hakan Fidan will take over the role of foreign minister from Mevlut Cavusoglu in a ceremony (0700 GMT).
OTHER MINISTERIAL CHANGES
In changeover ceremonies, Alparslan Bayraktar becomes energy minister in place of Fatih Donmez (0730 GMT) and former military chief Yasar Guler takes on the role of defence minister from the outgoing Hulusi Akar (1430 GMT).
For other related news, double click on:
Turkish politics TR-POL
Turkish equities TR-E
Turkish money TR-M
Turkish debt TR-D
Turkish hot stocks TR-HOT
Forex news FRX
All emerging market news EMRG
All Turkish news TR
For real-time quotes, double click on:
Istanbul National-100 stock index .XU100, interbank lira trading IYIX=, lira bond trading 0#TRTSYSUM=IS
(Compiled by Daren Butler)
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