Online Forex broker
2021-04-30 • Updated
Recently, a new Turkish Central Bank Governor was appointed: Sahap Kavcioglu. He will start his duties as the Turkish lira is almost as cheap as ever - only recently, USD/TRY ceded from the once-again-reached all-time highs of 8.5.
The inflation is very high in Turkey - it was %16.2 in March. That'll be the main focus of the newly appointed governor's speech today. He will advise how the Turkish Central Bank will manage inflation with the interest rate, and that'll shed light on the possible future of USD/TRY.
Essentially, one of the core factors of the instability in the monetary policy in Turkey is that its President Recep Tayyip Erdogan believes that higher interest rates lead to more inflation than before - that goes against the traditional view that hawkish moves limit inflationary dynamics in the economy.
Sahap Kavcioglu goes hawkish; also, his plan makes economic sense in the eyes of international observers; the Turkish Central Bank is expected to gain credibility and the Turkish lira starts rising in value again: USD/TRY will go down so you sell.
Sahap Kavcioglu fails to share a formidable plan to fight off inflation and continues with the dovish line preferred by the Turkish President; USD/TRY is likely to go up as the lira will lose value: in this scenario, the all-time high resistance of 8.50 may be broken os you buy USD/TRY.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
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.
In September 2022, USDSGD almost retested its peak of March 2020. The pair spiked above the 1.4400 level, driven by the strong US Dollar. Despite the obvious dominance of the USD, analysts believe that the Singapore dollar may be the one exotic currency worth our attention. Why do they share this opinion, and should we believe them?
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
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.
|
