All eyes on USD/RUB ahead of the CBR interest rate decision
The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
USD/TRY gets volatile after the rate cut
Today the central bank of Turkey cut its interest rate from 24% to 19.75% (vs. 21.5% expected). After the larger-than-expected rate cut by the Central bank of Turkey, USD/TRY initially tested the resistance at 5.7540 but fell sharply to the support at 5.6411. At the moment, the further direction of the pair is quite uncertain. If bears are strong, they will retest and break the support at 5.6411. The next support will lie at 5.6283. Bulls need to push USD/TRY to the 5.7048 level to confirm their strength. After that, the retest of the 5.7219, 5.74 and 5.7540 levels seems possible.
Similar
Will the RBNZ support the kiwi?
The New Zealand interest rate is announced on Wednesday at 03:00 MT time.
Latest news
Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
Inflation Is in Focus Again
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
