Jump to content

Turkish central bank cuts rates, sending lira to record low


Recommended Posts

image.png

image.png

image.png

Turkey’s central bank voted on Thursday to cut the country’s key interest rate, the one-week repo rate, to 14% from 15%, sending the lira to a new record low of 15.5 to the dollar immediately following the news.

The currency had already breached 15 to the dollar in the hours before the decision as markets anticipated a rate cut. The lira was trading at around 15.51 to the dollar just after 2 p.m. in Istanbul.

 

Inflation in the country of 84 million is now at more than 21% and has climbed steadily as President Recep Tayyip Erdogan has refused to raise rates, meaning purchasing power for Turks earning local salaries has plunged. The lira has lost 50% of its value against the dollar year to date.

Full article: CNBC

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Dear @Luis, Thank you for your post. Please make use of the search function on the platform. You can use ' 500 ETF' as keywords. Please also bear in mind that retail investors can't purchase most US ETFs. All the best, KoketsoIG
    • DE Elliott Wave Analysis Trading Lounge Daily Chart, Deere & Co., (DE) Daily Chart DE Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor 2 of (1). DIRECTION: Bottoming in wave 2.   DETAILS: Looking for a three wave move in wave 2 to be soon completed, to then continue higher.   DE Elliott Wave Analysis Trading Lounge 4Hr Chart, Deere & Co., (DE) 4Hr Chart DE Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective   STRUCTURE: Flat POSITION: Wave {c} of C.   DIRECTION: Wave (v) of {c}. DETAILS: Looking for equality of {c} vs. {a} at 390$, looking for a Classic Trading Level Pattern around 400$ to then enter long positions.   Welcome to our latest Elliott Wave analysis for Deere & Co. (DE), In this report, we provide a detailed examination of DE's price movements and future projections using the Elliott Wave Theory. This analysis will cover both the daily and 4-hour charts, offering insights into the current trends and potential trading opportunities. Whether you are a seasoned trader or a market enthusiast, this analysis aims to enhance your understanding of DE's market behavior.   * DE Elliott Wave Technical Analysis – Daily Chart* In our latest Elliott Wave analysis of Deere & Co. (DE), we observe a bullish trend with an impulsive structure. Currently positioned at Minor wave 2 of (1), DE is bottoming in wave 2. We anticipate the three-wave move in wave 2 to soon complete, setting the stage for a continuation to the upside. Traders should watch for signs of this bottoming to prepare for potential long positions as the trend resumes. * DE Elliott Wave Technical Analysis – 4Hr Chart* On the 4-hour chart, DE is exhibiting a corrective mode within a flat structure, specifically positioned in wave {c} of C. We are looking for wave (v) of {c} to reach equality with wave {a} at the $390 level. Additionally, we expect a Classic Trading Level Pattern to emerge around the $400 mark. This pattern will provide an opportunity to enter long positions as DE completes its corrective phase and resumes its upward movement.   Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!  
    • What is the etf sp500 here without being CFD i can invest on please?
×
×
  • Create New...
us