OctaFX | OctaFX Forex Broker
Open trading account

USD/TRY: To drop to 5.00 before turning to the upside - Rabobank

According to Rabobank analysts forecast, the USD/TRY pair at 5.00 in 3M, at 5.20 in 6M and 5.60 in 12M. 

Key Quotes: 

“A sharp deceleration in inflation to 21.62% y/y in November triggered market speculation that the CBRT could seriously consider an early interest rate cut to ease pressure on the economy, which contracted 1.1% q/q in Q3. It is absolutely crucial that the central bank strongly reiterates its commitment to maintain tight conditions given that the policy rate at 24% is a major source of support for the lira.”

“An early rate cut would be counterproductive and could seriously undermine the fragile lira’s stability, as reflected in the recent squeeze higher in USD/TRY.” 

“Significant progress on implementing structural reform is required to expect a sustainable lira recovery.”

EUR/USD hits fresh highs on Italian budget headlines near 1.1400

The EUR/USD pair climbed to 1.1386, hitting a fresh daily high, boosted after Italian Prime Minister Conte proposed a 2.04% deficit target for 2019 to
Read more Previous

AUD extends upside improved market sentiment, testing 100-D SMA

Market sentiment was more positive overnight, with market fears around trade easing a touch enabling AUD/USD to extend its recover from the 0.7183 rec
Read more Next
Start livechat