OctaFX | OctaFX Forex Broker
Open trading account
Back

Turkey: Fitch rating review in the limelight - TDS

Analysts at TD Securities point out that Fitch is due to review its BB (negative) sovereign rating for Turkey and will be a key event for today’s session.

Key Quotes

“Fitch has the highest rating of the three agencies: Moody's has Ba3 (negative) and S&P an unsolicited B+ (stable). Fitch cut the rating to BB from BB+ in July, citing a widening CA deficit, rising inflation and a sharp fall in the lira.”

“In spite of the recent recovery, USDTRY is still above July levels and of course inflation has accelerated since then. On the other hand, the CBRT has, in the end, hiked rates and the CA deficit is contracting. We think there is a reasonable chance that Fitch cuts the rating to BB-, but if so they will probably put the outlook as stable.”

China: Weaker indicators point to slowing Q4 economic growth - NAB

Gerard Burg, senior economist at NAB, China’s November data dump points to a negative trend as the industrial production was at a post-GFC low, trade
Read more Previous

WTI Technical Analysis: Oil hits three weeks of consolidation, WTI stuck to $52.00

WTI, 5-Minute Crude markets have been trendless in the near-term, and the last two weeks have seen a series of spikes in either direction as ener
Read more Next
Start livechat