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Nothing changes for gold, stocks as yields resume higher
Bearish trend persist for indices and metals as investors watch yields continue to rise following a flurry of central bank action this week.
CBRT cuts rates despite soaring inflation, weak Lira
After last weeks surprise rate cut by the CBRT, USD/TRY moved to its highest level since December 20th, 2021.
Inflation fears hitting Emerging Markets Currencies
If the US Dollar remains strong, emerging markets may continue to feel the pinch
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USD/TRY explodes through 10. Will it reach 11?
Could this move above 10 just be a “buy the rumor, sell the fact” heading into the central bank meeting?
USD/TRY at all-time highs
If Turkey continues to threaten retaliation against the Kurdish YPG militants or if there is a continued threat that the CBRT will cut rates once again, USD/TRY may continue to put in all-time new highs
Market recap and outlook for Friday
After a busy day in the markets, the US dollar was trading quite mixed at the time of writing, rising sharply against the yen and falling noticeably against the pound and in particular the euro.
Three central bank rate decisions and US CPI
Today promises to be another busy one for the currency markets as investors consider at least four major events. There are three central bank decisions and top tier economic data from the world’s largest economy to keep market participants busy.
TRY as It Might, Turkey Can’t Stop Its Currency from Melting Down
The economic situation in Turkey has been a powder keg for months, and it’s finally found a spark.
TRY this: GBP/TRY could be forming a major base
The Turkish Lira slumped late in the day on Friday when news of what turned out to be an unsuccessful coup attempt in Turkey hit the wires. The lira was able to regain its poise at the open overnight, but volatility should remain high in the coming days nonetheless. Understandably, there is still a lot of uncertainty in Turkey and risks remain high we may see renewed capital flight from the country. In the medium-term, the Turkish economy and corporate earnings could suffer because of the likely negative effects the political situation and on-going terrorist threats pose on the tourism industry.
EM Rundown: Could USDTRY bulls quit cold turkey?
Central banks will be traders’ central focus in the G10 this week, with monetary policy “decisions” out of the Federal Reserve, Reserve Bank of New Zealand and Bank of Japan, but there will also be some potentially important central bank meetings in the emerging world as well. While not too many readers are trading the currencies of Hungary, Nigeria, Ukraine or Israel (each of which features a central bank meeting this week), there will be central bank updates from more widely-followed nations like Russia, South Africa, and Turkey.
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