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USD/TRY: On The Rise

ByCan İlker
Published 10/09/2017, 02:15 AM
Updated 07/09/2023, 06:31 AM


* Upside risks for the global financial markets are on the rise as FED seems "hawkish" about the rate hike, due to the FED's George announcements.
* The geopolitical risks are again on the agenda, which Trump continues to tweet about what to the do on the North Korea issue.
* FED's presidents candidates and the program afterwards seems to be getting the track which supports the increase in the ten years US bonds' rates and supports the money inflow to the US soil. The US dollar index depreciated by 0.04% to 93.76 and U.S. 10-Year bonds' yields gained value by %0.31 to %2.361.
* There are some movements in the Asian markets, which made a flat opening/trading day. Japanese and South Korean markets will be closed too. Therefore, there can be some lack of liquidity.
* The political tension between the US and Turkey caused USD/TRY to gain some value. From the Friday's closing session the currency's volatility is increased, and money is depreciated to 3.71 TL.
* The uncertainty of the tension supports the possibility the increase of currency furthermore.
* Due to tension and Asian markets, a flat/negative opening should be expected from BIST 100. The Turkish IP data will be watched by local investors to have an idea about the economic growth.

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