TRY: A bloodbath – Nordea Markets

The TRY is in a full-blown currency crisis as the number of negative stories increases, according to analysts at Nordea Markets. Key Quotes “The Turkish lira is in a free fall amid a story from Financial Times this morning that the ECB is concerned about European banks’ exposure ...

TRY: Most important election in modern Turkish history – Nordea Markets

Morten Lund, Research Analyst at Nordea Markets, points out that on Sunday, the Turks will vote both at the presidential and parliamentary elections and recent polls suggest that an Erdogan win in both elections is not at all a done deal. Key Quotes “On Sunday 24 June, Turkey will hold bot ...

Oil: Event risk on the increase with focus on Iran – Danske Bank

Oil prices rallying to the highest level since 2014 is due partly to rising event risk in the oil market, according to analysts at Danske Bank. Key Quotes “We highlight the tense geopolitical situation in the Middle East and the deteriorating economic situation in Venezuela as two hotspot ...

EUR/TRY: Scope for a pullback – Rabobank

According to Piotr Matys, EM FX Strategist at Rabobank, diminishing political uncertainty and tighter monetary policy provided the lira with a much needed respite. Key Quotes “Given that a broadly firmer USD may limit scope for a pullback in USD/TRY, we prefer to express the improvement i ...

Turkey: Hawkish message from Governor Cetinkaya – Rabobank

Turkey faces the prospects of inflation remaining well above the official 5% target for another two years, according to the latest quarterly inflation report published by the Central Bank of the Republic of Turkey (CBRT), notes Piotr Matys, EM FX Strategist at Rabobank.  Key Quotes “Th ...