Turkey
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European Open: Turkey could be headed for a runoff election
The Turkish lira sank to a fresh record low against the US dollar as President Erdogan remained in the lead, although has yet to enjoy an outright majority.
The ‘Central Bank of Erdogan’ Sharpens its Rate-Cut Knife
Turkey’s central bank announce their rate decision at 11:00 today. And, if prior meetings are anything to go by, we suspect it will be another lively one.
Turkey’s inflation data may embolden Erdogan
The inflation print beat expectations of 20.4% YoY, possibly because of the 200bps rate cut on October 21st!
Asian Open: Central Bank of Erdogan (CBOE) pulls no punches
USD/TRY won currency of the day to hit new highs after ‘impartial’ President Erdogan’s hand-picked central bankers cut rates by 200 bps despite raging inflation.
USD/TRY lurches higher as traders question the central bank’s independence, 10.00 next?
Traders’ fears that the nominally independent central bank is becoming hopelessly politicized are being realized, causing a widespread loss of confidence in the lira...
Currency Pair of the Week: USD/TRY
USD/TRY may be volatile this week as the markets try and figure out what to make of the new CBRT Governor
[VIDEO] Don’t forget the CBRT meeting on Thursday!
Expectations are for the central bank to increase rates by 100 basis points
Currency Pair of the Week: USD/TRY
USD/TRY should offer many trading opportunities this week
USD/TRY: Lira Stabilizes After Turkey’s Central Bank Delivers Surprise Rate Hike
USD/TRY remains a clear uptrend despite today’s dip, with rates still trading higher on the week and up nearly 20,000 pips (!) from the January lows.
Turkish central bank loses credibility as lira decline continues
The Turkish lira has fallen sharply on Tuesday after the central bank failed to raise interest rates as expected. The market had expected to see […]
EM FX: strain turns to panic
The emerging market FX world has come under pressure since the election of Donald Trump to the White House. With less than two weeks’ to […]
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 […]
CAD/JPY potentially poised for a prodigious period
Markets are calming down as US traders filter out for the Thanksgiving holiday, but there is one little-followed pair that could be shaping up for […]
EM Rundown: Turkish election and Industrial green shoots
It will no doubt be a week to watch when it comes to G10 economic data, but for emerging markets, most of the market-moving developments […]
EM Rundown: Geopolitical Risks Abound for USD/RUB and USD/TRY
For most asset classes, the panic-driven moves of last Monday have been erased, with EURUSD completing its 500-pip round trip, US equities actually closing higher […]
EM Rundown: A Trifecta of Big EM Central Bank Decisions
While there are a few top-tier economic events in the G10 this week (RBA minutes and CPI tonight, the RBNZ’s monetary policy meeting on Thursday, […]