Online Forex broker
2021-03-19 • Updated
The Central Bank of the Republic of Turkey (CBRT) raised its cash rate, surprising investors. It was a necessary action for Turkey to meet the bank's target of lowering inflation to 9.4% by year-end to approach the longer-term target of 5% in 2023.
"It is crucial that the lira offers a sufficiently attractive carry trade to appreciate in the coming months, or at the bare minimum to be relatively stable against the dollar," says Rabobank.
USD/TRY plunged as the Turkish lira rose against the US dollar after the Turkish bank’s decision. In fact, the TRY was one of the few currencies, that have managed to strengthen against the greenback on an intraday basis.
USD/TRY dropped to the 200-period moving average at 7.2400, which also lies on the lower line of Bollinger Bands. The RSI indicator went below the 30.00 level, indicating the pair is oversold. Thus, the pullback should happen soon. The move above yesterday’s high of 7.3500 will drive the pair to the 100-period moving average of 7.4500. Just in case, support levels are 7.2400 and 7.1400.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
After multiple hawkish remarks over the past few days from non-voters members, the Federal Reserve chairman Powell surprised the markets with some dovish remarks…
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?
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
