USD/TRY expected to consolidate below 7.1310 – Commerzbank

According to Senior Analyst at Commerzbank Axel Rudolph, spot is seen consolidating below recent all-time highs above 7.00 the figure. Key Quotes “Last week USD/TRY shot up to a new all-time high at 7.1310 (according to CQG) before slipping back to last week’s low at 5.6972, only t ...

USD/TRY Technical Analysis: Odds stacked in favor of bulls

The USD/TRY hourly chart shows a falling wedge breakout - a bullish pattern - which indicates the pullback from the recent high of 7.08 has ended and the bulls are back in a commanding position.  The 10-day MA continues to rise in a bull-friendly manner.  The stacking order of th ...

Cautious sentiment around TRY – Danske Bank

Jakob Christensen, Chief Analyst at Danske Bank, noted the recent price action around the Turkish currency. Key Quotes “Yesterday, the Turkish lira saw a brisk dawn as the USD/TRY fell under 6.00, saluting more US friendly comments by the Turkish Foreign Minister and the news on Qatar’ ...

USD/TRY Technical Analysis: Prepping for a re-test of 6.00

The USD/TRY hourly chart shows a bullish relative strength index (RSI) divergence. As a result, the pair could witness an upside break of the falling channel and rise above 6.00 in the next few hours. The bullish case would weaken if the falling channel resistance proves a tough nut to crack ...

France’s Macron: Turkey’s economic stability is important for France

According to Turkish presidential sources, French President Emmanuel Macron told Turkish President Erdogan that Turkey's economic stability was important for France in a recently held phone call, as reported by Reuters. Key quotes Turkish president Erdogan and France's Macro ...

USD/TRY: Bears in control, 5.7000 tested

USD/TRY extends corrective slide towards 5.7000. Lira accelerates recovery, underpinned by Qatar aide news. The Turkish Lira extends its recovery-mode into a fifth straight day today, knocking-off the USD/TRY cross to test the 5.7000 level.   The sellers returned in full swing in th ...

USD/TRY: Volatility in store? – Danske Bank

USD/TRY continued its decline yesterday after local retail accounts took advantage of the respite and sold USD, while thin liquidity has also been adding momentum to the Turkish lira, suggests the research team at Danske Bank. Key Quotes “The geopolitical stand-off with the U ...

USD/TRY holds below 6.00 in Asia

Turkish lira is looking to extend its two-day winning streak. Turkey slapped tariffs on US imports, to get a cash boost from Qatar. USD/TRY is trading below 6.00 in Asia, having shed more than 15 percent in the last two days. A technical correction gathered pace on Wednesday after Qata ...

Turkey saga continues, but contagion is expected to be limited – ABN AMRO

Analysts at ABN AMRO suggest that a recession is on the horizon for Turkey, but the depth of the recession depends on the measures taken and spill-over to other emerging markets is expected to be limited. Key Quotes “The lira down 41% year-to-date USD/TRY rose above 7.2 last Friday, at it ...

USD/TRY struggling to extend the bounce beyond 6.00

Turkish Govt Spokesman’s comments offer some support to Lira. Lira – a dead cat bounce? King dollar continues to rule. The offered tone around the Lira is seen picking-up pace once again, now driving the USD/TRY cross further beyond the 6.00 handle. The spot is making minor recover ...

Turkey: Crisis here to stay – Danske Bank

Analysts at Danske Bank note that Turkish President Erdogan's speech yesterday brought little news apart from calling for a consumer boycott of American products and as no news is good news for markets at the moment, USD/TRY came down to the levels of last Friday. Key Quotes “We stil ...