Canada will release the level of CPI on August 21, at 15:30 MT time.
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.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.