"Buy the rumor - sell the fact" action for USD/TRY
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Asian equities rebound from one-month maximum
On Friday, Asian equities rebounded from a one-month maximum because the Fed seemed to be braced for another interest rate lift in December, paring profits made earlier this week after American midterm elections provoked a global stock ascend.
Spreadbetters actually expected European equities to follow Asia's lead and start lower. Britain's FTSE went down by 0.45%. The DAX lost 0.3% in Germany, while the CAC dived by 0.15% in France.
MSCI's index of Asia-Pacific equities inched down by 1.3% and it was headed for a 1% tumble for the week. The index reached its highest value since October 8 on Thursday.
The Hang Seng index went down by 2.4% in Hong Kong, while the Shanghai Composite Index headed south by 1.2%.
Besides this, Australian equities went down by 0.1%. In South Korea, the KOSPI index slumped by 0.05%, while Japan's Nikkei decreased by 1.05%.
On Thursday, the key US bank left interest rates on hold, although staying on track to keep gradually lifting borrowing costs, indicating good economic prospects, which were marred only by a sink in the surge of business investment.
This year, the Fed has raised American interest rates up to three times. What’s more, it’s generally anticipated to do so once again in December.
As a matter of fact, the S&P 500 went down by 0.25%, while the Nasdaq decreased by 0.53% following the Fed’s remark. As for energy equities, they appeared to be the biggest drag on the S&P because American crude dived.
American equities spiked midweek reacting to American midterm elections.
Meanwhile, the evergreen buck stood tall having rallied versus its rivals overnight, backed by higher Treasury yields as well as the Fed's intention to keep tightening its monetary policy.
The evergreen buck hit 113.925 having reached a five-week maximum of 114.09 overnight.
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Market updates on September 20
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
Market updates on September 19
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.
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