USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!
EUR/USD faces further appreciation during 2021
2021-01-14 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver is consolidating below 38.2% retracement area but price action remains weak.
EU Market View
Asian equity markets mostly lacked firm direction as bourses took their cue from the rangebound session in the US where tech losses were offset by cyclicals. US President-elect Biden is to seek a deal with Republicans on COVID-19 relief instead of attempting to push through legislation without their support, according to sources. Looking ahead, highlights from macroeconomic calendar include EZ industrial production, US CPI, ECB's Lagarde, Fed's Bullard, Brainard, Harker, Clarida speeches. The House will vote on asking Vice President Pence to remove D. Trump from the president’s office. A vote on impeachment is possible for Wednesday in the likely event of Pence refusing. Merkel warns Germany may need another 10 weeks of lockdown, while a raft of Fed speakers will flesh out thoughts of when the best moment to start tapering bond purchases may be.
EU Key Point
- Germany December wholesale price index comes at +0.6% vs +0.1% m/m prior
- BOJ reportedly considering downgrading view of economy amid state of emergency
- German health minister supports that It will not be possible to lift all restrictions in February
- Germany reports 19,600 new coronavirus cases, 1,060 deaths in latest update today
On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?
The Turkish lira has been pressed by Turkey’s central bank (CBRT). Analysts believe USD/TRY will reach 10.00 by the year's end.
Are you searching for trade opportunities for December 6-10? Here you go!
Both omicron and Powell’s comments increased volatility in EUR/USD. What to expect further?
There has been extreme depreciation in TRY assets recently…