{"id":1577,"date":"2016-06-24T13:53:21","date_gmt":"2016-06-24T13:53:21","guid":{"rendered":"https:\/\/www.investaz.com.tr\/blog\/?p=1577"},"modified":"2024-10-17T14:44:22","modified_gmt":"2024-10-17T14:44:22","slug":"merkez-bankalarinin-aciklamalarini-dogru-yorumlamanin-yollari","status":"publish","type":"post","link":"https:\/\/www.investaz.com.tr\/blog\/merkez-bankalarinin-aciklamalarini-dogru-yorumlamanin-yollari\/","title":{"rendered":"Merkez Bankas\u0131 A\u00e7\u0131klamalar\u0131n\u0131 Do\u011fru Yorumlama Rehberi"},"content":{"rendered":"<p>FED\u2019in (Amerikan Merkez Bankas\u0131) a\u00e7\u0131klamalar\u0131n\u0131n g\u00fcndeme bomba gibi d\u00fc\u015ft\u00fc\u011f\u00fc, ekonomistlerin hararetli tart\u0131\u015fmalar\u0131n i\u00e7ine girdi\u011fi, b\u00fcltenlerin sadece bu mesele ile s\u00fcslendi\u011fi, verilecek olas\u0131 karar\u0131n her a\u00e7\u0131dan ele al\u0131nd\u0131\u011f\u0131 g\u00fcnler ya\u015fad\u0131k, bir\u00e7ok kez ya\u015fayaca\u011f\u0131z. Benzer kaos ortamlar\u0131n\u0131 <a href=\"https:\/\/www.investaz.com.tr\/yatirim\/avrupa-merkez-bankasi\">ECB<\/a> (<a href=\"https:\/\/www.investaz.com.tr\/analiz\/avrupa-merkez-bankasi-ecb\" target=\"_blank\" rel=\"noopener\">Avrupa Merkez Bankas\u0131<\/a>) , BOJ (Japonya Merkez Bankas\u0131) ve BOE (\u0130ngiltere Merkez Bankas\u0131) a\u00e7\u0131klamalar\u0131nda da ya\u015fayabiliriz. \u00c7\u00fcnk\u00fc bu \u00fclkelerin merkez bankalar\u0131, finans piyasalar\u0131nda i\u015flem g\u00f6ren varl\u0131klar\u0131n fiyat\u0131na y\u00f6n verebilecek para politikalar\u0131 ara\u00e7lar\u0131na sahipler. K\u00fcresel ekonomi ile ilgisi olan herkes, \u00f6zellikle yat\u0131r\u0131mc\u0131lar merkez bankalar\u0131n\u0131n yapt\u0131klar\u0131 a\u00e7\u0131klamalar\u0131n ne anlama geldi\u011fini iyi bilmelidir. \u00c7\u00fcnk\u00fc merkez bankalar\u0131n\u0131n ald\u0131klar\u0131 kararlar, hisse senetlerinden emtia fiyatlar\u0131na, para birimlerinin de\u011ferinden, tahvil faizlerine kadar bir\u00e7ok enstr\u00fcman \u00fczerinde \u00e7abucak etkili olur.<\/p>\n<p><strong>Merkez Bankas\u0131 Ba\u015fkanlar\u0131n\u0131n A\u00e7\u0131klamalar\u0131na Dikkat!<\/strong><br \/>Merkez bankas\u0131 kararlar\u0131 ve a\u00e7\u0131klamalar\u0131 bu kadar \u00f6nemliyken, \u00f6nceden bu kararlar\u0131n verilece\u011fini kestirmek ise yat\u0131r\u0131mc\u0131ya atmas\u0131 gereken ad\u0131mlar hakk\u0131nda b\u00fcy\u00fck fayda sa\u011flayacakt\u0131r. Bu ba\u011flamda yat\u0131r\u0131mc\u0131lar da, merkez bankalar\u0131n\u0131n gelecekte alacaklar\u0131 olas\u0131 kararlar\u0131 tahmin edebilmek i\u00e7in, merkez bankas\u0131 ba\u015fkanlar\u0131n\u0131n konu\u015fmalar\u0131n\u0131 ve kulland\u0131klar\u0131 ifadeleri yak\u0131ndan analiz etmeye \u00e7al\u0131\u015facaklard\u0131r. Bu y\u00f6ntem, olas\u0131 kararlar\u0131 tahmin edebilme noktas\u0131nda de\u011ferli bir ipucudur. \u00c7\u00fcnk\u00fc merkez bankas\u0131 toplant\u0131lar\u0131nda al\u0131nan kararlar kadar, ba\u015fkanlar\u0131n yapt\u0131klar\u0131 bas\u0131n a\u00e7\u0131klamalar\u0131 da de\u011ferli bilgiler ve g\u00fc\u00e7l\u00fc sinyaller verebilir.<\/p>\n<p><strong>A\u00e7\u0131klamalar\u0131 Yorumlayarak Pozisyonlar\u0131n\u0131z\u0131 De\u011ferlendirin<\/strong><br \/>Forex piyasas\u0131 yat\u0131r\u0131mc\u0131lar\u0131n\u0131 do\u011frudan ilgilendiren ve ilgili para biriminin sert de\u011fer de\u011fi\u015fikliklerine maruz kalmas\u0131na yol a\u00e7abilen bu konu\u015fmalar piyasada, \u201cg\u00fcvercin\u201d ve \u201c\u015fahin\u201d a\u00e7\u0131klamalar (dovish ve hawkish) olarak tan\u0131mlan\u0131r. Merkez bankas\u0131 ba\u015fkanlar\u0131n\u0131n yapt\u0131\u011f\u0131 bu a\u00e7\u0131klamalar, bekle-g\u00f6r stratejisi ya da agresif hamlelerin ayak seslerini duyma a\u00e7\u0131s\u0131ndan \u00e7ok \u00f6nemlidir. Merkez bankas\u0131 ba\u015fkanlar\u0131 genel tutumlar\u0131n\u0131 a\u00e7\u0131klamalarda \u00e7ok a\u00e7\u0131k bir \u015fekilde ifade etmeseler de, ifadeleri ile bir\u00e7ok mesaj\u0131 kitlelere iletirler. Genel \u00e7er\u00e7evede, konu\u015fma s\u0131ras\u0131nda bas\u0131na yans\u0131t\u0131lan bu tavr\u0131n yat\u0131\u015ft\u0131r\u0131c\u0131 ya da sert olmas\u0131na g\u00f6re piyasalarda olu\u015facak beklentiler, para birimi de\u011feri \u00fczerinde belirgin de\u011fer de\u011fi\u015fikliklerine yol a\u00e7abilmektedir. Yap\u0131lan \u0131l\u0131ml\u0131 ya da yeni kararlar almaya y\u00f6nelik olan a\u00e7\u0131klamalara g\u00f6re, yat\u0131r\u0131mlar\u0131n\u0131z\u0131 \u201cg\u00fcvercin\u201d ve \u201c\u015fahin\u201d a\u00e7\u0131klamalar\u0131n piyasaya yans\u0131mas\u0131na g\u00f6re y\u00f6nlendirebilirsiniz. Bu y\u00fczden, forex piyasas\u0131nda al\u0131nacak pozisyonlar i\u00e7in bu konu\u015fmalar\u0131n b\u00fcy\u00fck \u00f6nem ta\u015f\u0131d\u0131\u011f\u0131n\u0131 s\u00f6yleyebiliriz.<\/p>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FED\u2019in (Amerikan Merkez Bankas\u0131) a\u00e7\u0131klamalar\u0131n\u0131n g\u00fcndeme bomba gibi d\u00fc\u015ft\u00fc\u011f\u00fc, ekonomistlerin hararetli tart\u0131\u015fmalar\u0131n i\u00e7ine girdi\u011fi, b\u00fcltenlerin sadece bu mesele ile s\u00fcslendi\u011fi, verilecek olas\u0131 karar\u0131n her a\u00e7\u0131dan ele al\u0131nd\u0131\u011f\u0131 g\u00fcnler ya\u015fad\u0131k, bir\u00e7ok kez ya\u015fayaca\u011f\u0131z. Benzer kaos ortamlar\u0131n\u0131 ECB (Avrupa Merkez Bankas\u0131) , BOJ (Japonya Merkez Bankas\u0131) ve BOE (\u0130ngiltere Merkez Bankas\u0131) a\u00e7\u0131klamalar\u0131nda da ya\u015fayabiliriz. \u00c7\u00fcnk\u00fc bu \u00fclkelerin&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1607,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-makaleler"],"_links":{"self":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/1577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/comments?post=1577"}],"version-history":[{"count":5,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/1577\/revisions"}],"predecessor-version":[{"id":4900,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/1577\/revisions\/4900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media\/1607"}],"wp:attachment":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media?parent=1577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/categories?post=1577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/tags?post=1577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}