Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Forex

USD/TRY: Further gains towards 35 are possible next year – SocGen

Source Fxstreet

Türkiye’s central bank (CBRT) meets today. Economists at Société Générale analyze Lira’s outlook ahead of the Interest Rate Decision.

CBRT tightening not over

The Central Bank of Türkiye has gone fully conventional by delivering a cumulative 3,250 bps of policy tightening since the new Treasury and Finance minister, and CBRT governor Hafize Gaye Erkan were installed after the spring election. The policy rate has been raised dramatically from 8.50% pre-election to 40.0% in November, and another layer of policy restraint may be added today.

Our house view calls for a terminal rate of 45.00%, so another two 250 bps hikes, today and one more in January 2024.

We do not think the TRY is out of the woods and further depreciation towards 35.00/USD is possible next year (EUR/TRY 40.00).

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: Will Gold Keep Falling After Dropping Below $4,300 as US-Iran Conflict Drives Up Oil Prices?As of the Asian trading session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, with the latest price hovering around $4,320, down nearly 9% cumulat

Author TradingKey

9 hours ago

As of the Asian trading session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, with the latest price hovering around $4,320, down nearly 9% cumulat

Escalating US-Iran Conflict Drives Up Oil Prices, WTI Returns Above $90, Gold Falls Near $4,300 As of the Asian session on September 2, international oil prices surged, with WTI crude (USOIL) reclaiming $90, and Brent crude (UKOIL) rising above $95, reaching a high of $97.04; meanwh

Author TradingKey

16 hours ago

As of the Asian session on September 2, international oil prices surged, with WTI crude (USOIL) reclaiming $90, and Brent crude (UKOIL) rising above $95, reaching a high of $97.04; meanwh

US Dollar Index Price Forecast: DXY eyes 99.75 confluence hurdle amid Fed bets, Iran risks The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.

Author FXStreet

Yesterday 10: 16

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.

WTI holds above $85.50 as Middle East risks tighten global supply West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.

Author FXStreet

Yesterday 01: 29

West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.

Crude Oil Price Forecast: US-Iran Conflict Escalates Again, Will Brent Continue to Rise After Breaking $90? The US and Iran exchanged direct fire again after more than a month, rapidly escalating shipping risks in the Strait of Hormuz and pushing international oil prices back above $90 a barrel

Author TradingKey

Aug 31, Mon

The US and Iran exchanged direct fire again after more than a month, rapidly escalating shipping risks in the Strait of Hormuz and pushing international oil prices back above $90 a barrel

Related Instrument