OctaFX | OctaFX Forex Broker
Open trading account

Turkey: Q3 GDP data likely to show deceleration below the 2.7% mark - TDS

FXStreet (Delhi) – Research Team at TDS, suggests that today’s highlight is the Turkey’s Q3 GDP data that is likely to show a deceleration from 3.8% Y/Y recorded in Q2.

Key Quotes

“On a sequential basis, the consensus looks for 1.3% Q/Q SWDA, but this forecast is often inaccurate as only a few economists estimate it. Our models show that a downside surprise is likely today. Additionally, data for the second quarter surprised to the upside, which increases the likelihood of a pullback. In annual terms, we highlight the possibility of GDP growth slowing below the 2.7% mark expected today the slowing industry and trade sectors.”

“Markets will also pay attention to the October current account data, expected to print a modest deficit of –USD0.2bn, down from a surplus of USD0.1bn in the prior month, when Turkey recorded its first monthly C/A surplus since 2009. While the pullback should be modest in October, the ongoing deterioration in domestic demand should reflect in the better trade data, but also provides additional evidence that downside risks to growth are larger than upside risks in the remainder of the year.”

RBNZ might close door to further easing after today’s 25 bp rate cut

New Zealand's central bank cut its benchmark interest rate (ORR) by 25 basis points back to the record low of 2.50 per cent. The central bank is confident it will be able to achieve its inflation target of 2 per cent without any further monetary easing. Therefore no more easing seems likely in the pipeline for now.
Read more Previous

GBP/USD offered near 1.52, awaits UK data, BOE decision

The bid tone on the USD recovered in Asia, leading to a drop in the GBP/USD from the high of 1.5196 ahead of the UK trade balance data and BOE rate decision.
Read more Next
Start livechat