How did Turkish lira assets complete the moving trading day? By Investing.com


© Reuters.

Investing.com – Starting the day by deleting yesterday’s gains, it saw a low of 1,418 a high of 1,434 points during the day and closed the middle of the week at 1,430 points.

In the index, which closed May with a limited increase of 1.6%, June started weakly due to exchange rate pressure. The fall of TL to a record level against the foreign currency and the continuation of the risky course of over 400 bps on the other side are causing pressure in the stock market.

With the acceleration of economic activities in global markets and the fact that the central banks, especially the Fed, have not yet signaled a tight monetary policy, risk appetite is high, but Turkish lira assets cannot benefit from this capital flow due to high domestic risks. MSCI Turkey loss is 20% and TL diverges negatively.

After the President’s statements on the interest rate cut yesterday, the CBRT Chairman, who met with the investors today, said that it was too early to switch to a broad monetary policy and that such an expectation was not true. There was no significant price change in the markets after Kavcıoğlu’s statements. 8.60 is trading near the 10.50 level.

While the stock market closed the day at 1,430 points, the leading indices closed the day with a decrease and closed the day with a limited plus.

The data, which will be announced at 10:00 tomorrow, will be followed as the most important economic indicator in the country. CPI is expected to approach 17.5% in May.

Author: Necdet Erginsoy

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Check Also

Economic Calendar – 5 Key Developments to Watch This Week By Investing.com

© Reuters Yazar: Noreen Burke Investing.com – While the market rotation continues in an environment …

Leave a Reply

Your email address will not be published. Required fields are marked *