The CBRT has raised rates from 8.5% in June 2023 to currently standing at 50%. There was a recent CBRT meeting where rates where held at 50%. There has been a roll coaster for inflation YoY which was below 20% in 2020, rose as high as 36% in 2021, pushed up to 85.50% in 2022, dropped in 2023 to around 38% at its lowest, then pushed higher to standing at 69.8%...
The Turkish New Lira is the official currency of Turkey and Turkish Republic of Northern Cypress. The new Lira was introduced in 2005 after periods of high inflation devalued the old currency.
Since the self-proclaimed monetary "expert" and Father of #MMT
Warren Mosler said,
"Erdogan has it right"
(to lower interest rates back on March 22, 2021), the USD has appreciated by 145% against the $TRY
Easy to say, not stupid enough to take his own advice & buy the $TRY
Great lesson not to listen to self proclaimed "monetary experts" who could not even...
%19 Interest rate, huge debts, vaccination progress is still very low.
Turkish Central Bank manager kicked out because of interest rates, but we have still a huge interest rate and USD/TRYis still going forward. What Turkey could do? No tourism income for now, no leverage hand for interest anymore.
Unfortunately, TRY will be 10 soon if we close daily above 8.58....
I'm writing to you today to discuss the recent election results in Turkey and how they have impacted the value of the Turkish lira.
As you may know, President Erdogan's party suffered a significant setback in the recent local elections, which has caused a drop in the value of the Turkish lira. While this news may concern some, it presents a unique opportunity...
I am aware of the current geopolitical problems in the world and especially in Turkey.
Also the economy of Turkey has had a very hard time.
In 2023 there seem to be re-elections. Maybe if they get rid of Erdogan there can be a future.
Also 2023 is like the holy grail year for the Turks because they can "pump the oil out of the ground", because of a so called...
Economy keeps crashing in the hands of "strong man" Erdogan, who has fired every Head of Turkish Central Bank who tried to stop him fulfill his own Turkish Dream of hyperinflation in which business is no longer possible as the cost of imports and commodities rises daily. Erdogan's genius policy in a world where growth and investment is stalling is to keep slashing...
As for now, Turkish Lira is still ABOVE 2021´s Close (Black Line) and Came back to Restest it.
Hence the Bullish Bias Remains. If price starts going up it will end at yearly R3.
If price breaks below yearly S1 (what I find unlikely) the yearly downtrend will be to S3.
For Educational Purposes Only.
Hello Traders,
I was away for a couple of months due to personal matters, but I am determined to support you again with my outstanding ideas in 2022. So let do this!
A beautiful curve stick pattern is forming.
Buy USD/TRY at 12.8
TP 1: 13.94
TP 2: 14.60
SL: 11.22
The Content is for informational purposes only, you should not construe any such information or...
We said it 30 minutes before this massive short-selling. "it will go up until the Turkish Government decides to react." And they did. At Human traders we provided two selling signals, and we are short this forex pair. Volatility remains high and there are a lot of forex traders closing positions. For those who want to trade this one, we recommend you to stay on...
Everyone wants to know where it's going...Why not just scalp these areas
USDTRY THE MAIN FOREX PAIR that has been very active in the news in 2021.
Generally speaking all main gaps get filled...Let's see where market should fined some two way auction.
My main trading analysis is always through orderflow & volume profile .
I mainly scalp Futures (ES & NQ)
I have...
This week has seen the USD/Turkish Lira exchange rate drop from a high of 18.25 TL per Dollar to a close at 11 TL per Dollar. In my previous idea published in January 2021. The concepts I laid out in that idea are still valid. The curve I drew still holds intact. RSI is still rising in the parallel channel. The recent spike has seen RSI reach even higher value...
This is just a quick look at the USDTRY pair. I'm evaluating the recent recovery of the Turkish Lira versus the dollar from about 8.5 TL per dollar to 7.3 TL. In my estimation, this recovery has not shown enough strength to continue. We can see that as soon as it touched the bottom of the drawn curve, RSI has reached the bottom of its parallel channel. That's as...
Inflation is running hot in Turkey at 21% YoY & soon to surpass the 2019 high of 25%. And yesterday the central bank, or dare we say President Erdogan, cut the weekly repo rate by 100 bp to 14%. His theory is that lower rates will tame inflation. And the Turkish Lira promptly hit an all-time low against the US dollar.
President Erdogan for chair of the US Fed, anyone?
