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

Trump’s Greenland Tariff Suspension: Crypto Prices Rebound as Investors Weigh Rally Longevity Trump declares Greenland tariffs void; crypto market quickly reverses losses to gains, with Bitcoin expected to continue its rebound higher.During the early hours of Thursday (January 22)

Author TradingKey

8 hours ago

Trump declares Greenland tariffs void; crypto market quickly reverses losses to gains, with Bitcoin expected to continue its rebound higher.During the early hours of Thursday (January 22)

BTC Eyes $90K as Trump Hints at Imminent Crypto Bill Signing President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.

Author Mitrade

9 hours ago

President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.

Gold moves away from record high as safe-haven demand fades on easing trade war concerns Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.

Author FXStreet

11 hours ago

Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.

Bitcoin’s Whale Map Shifts as BTC Drops Below $90,000 Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.

Author Mitrade

12 hours ago

Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.

Australian Dollar rises as employment data boosts RBA outlook The Australian Dollar advances against the US Dollar (USD) on Thursday, following the seasonally adjusted employment data from Australia, which strengthens expectations of tighter monetary policy from the Reserve Bank of Australia (RBA)

Author FXStreet

16 hours ago

The Australian Dollar advances against the US Dollar (USD) on Thursday, following the seasonally adjusted employment data from Australia, which strengthens expectations of tighter monetary policy from the Reserve Bank of Australia (RBA)

Related Instrument