
Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
2020-05-15 • Updated
TRY bounced back to 6.9 as the government appealed for funding. Where is it headed now?
The Turkish government took defensive measures to avoid the currency crisis. The Turkish central bank asked foreign allies for funding. They have already held talks with the USA, Japan, the United Kingdom, Qatar, and China. Negotiations continue, but no country has agreed to help. That seems reasonable, it’s a tough time for every nation and most of them don’t have enough capacity to support their own economies. Anyway, after this promising report the Turkish lira surged up. It has been the largest spike for a long time.
Let’s have a look at the chart now. We can easily notice the strong upward trend. When the coronavirus pandemic began, USD/TRY skyrocketed to unseen highs. However, the price has been falling for over a week already. If it crosses the support level at 6.74, it will open doors for further drop to 6.6. Resistance lines are at 7.055 and 7.18.
Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
Weaker recoveries were seen in both the UK manufacturing and service sectors, with the latter recording the greatest loss of momentum since July.
What will happen? The Bank of England will present a monetary policy statement on Thursday, August 4 at 14:00 MT (GMT+3)…
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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