USD/TRY extends the break of the 17.00 level. The lira remains weak in line with the rest of the risk space. All attention is on the current account for May and the year-end CPI forecast for the month of July tomorrow, Friday. Another day, another drop in the Turkish lira, and this time raising the […]
Tag: USDTRY
USD/TRY hits multi-session highs and breaks above 17.00
USD/TRY regains upward traction and breaks above 17.00. USD’s bullish bias weighs on the lira. Inflation fears continue to weigh on the currency. Further depreciation of the Turkish currency gives additional wings to the USD/TRY and motivates it to break above 17.00 on Tuesday. USD/TRY is now heading for 2022 highs near 17.40 USD/TRY extends […]
USD/TRY hits 4-day highs around 16.75
USD/TRY adds to Thursday’s advance near 17.00. Türkiye’s manufacturing PMI dropped to 48.10 in June. Investors’ attention shifts to Monday’s CPI release. The Turkish lira loses more ground and pushes the USD/TRY to new multi-day highs near 16.75 on Friday. USD/TRY remains supported around 16.00 USD/TRY advances for the second consecutive session at the end […]
USD/TRY flirts with three-day highs around 16.70
USD/TRY leaves Wednesday’s advance behind and tests 16.70. Türkiye’s trade deficit widened to TL 10.61B. Attention now turns to Monday’s CPI release. The Turkish lira cuts some ground and pushes the USD/TRY to the three-day high zone around 16.70 on Thursday. USD/TRY appears to be supported near 16.00 USD/TRY continues the choppy trade so far […]
USD/TRY finds support at the 16.50 area
USD/TRY is trading with modest losses near 16.60. Türkiye’s economic confidence index fell to 93.60 in June. Investors continue to monitor the recent government move. The new gains of the Turkish currency motivate the USD/TRY around the 16.60 area, with a modest decline on the day. USD/TRY looks supported near 16.00 USD/TRY trims part of […]
Turkey: Central Bank leaves benchmark interest rate unchanged at 14%
The Central Bank of the Republic of Turkey (CBRT) left its benchmark interest rate, the one-week repo rate, unchanged at 14.00% on Thursday. In the statement, the central bank reiterated that it will continue to use all available instruments in a decisive manner within the framework of the “liralization” strategy until the indicators point to […]
USD/TRY picks up the pace and trades fresh 2022 highs near 16.80
USD/TRY at new 2022 highs near 16.80. The strong recovery of the dollar pushes the pair higher. The results of the cash balance of the Turkish Treasury come later. The strong tone across the board in the USD motivates the USD/TRY to continue advancing and mark new highs of 2022 in the vicinity of 16.80 […]
USD/TRY continues to rally and reaches new highs near 15.50
USD/TRY rises to fresh 2022 highs around 15.50. Turkey’s industrial production expanded by 9.6% year-on-year in March. Turkey’s retail sales increased by 0.3% mom also in March. the turkish lira continues down and up USD/TRY to new 2022 highs in the 15.50 area on Friday. USD/TRY rises on USD strength, geopolitics USD/TRY extends monthly rebound […]
USD/TRY pulls back from multi-week highs around 14.90
USD/TRY’s bullish bias wavered around 14.90 on Tuesday. Markets in Turkey are closed due to the Eid al Fitr holiday. Turkey’s inflation figures will take center stage on Friday. The Turkish lira finds some buying interest after the renewed position offered in the dollar and motivates the USD/TRY to make a U-turn after hitting multi-week […]
USD/TRY advances to weekly highs around 14.75
USD/TRY extends weekly bounce to 14.75 zone. The lira depreciates despite a weaker dollar. The lira loses more ground and raises the USD/TRY to the weekly high area at 14.70/75 on Thursday. USD/TRY continues to trade sideways USD/TRY moderated Wednesday’s small retracement and resumes weekly gains despite the offered stance on the dollar and the […]