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

Solana Future: From high-speed experiment to corporate treasury playbook for the next SOL cycle Solana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.

Author Mitrade

Jan 12, Mon

Solana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.

Silver Price Forecast: XAG/USD corrects to near $86.50 as Iran stops killing protesters Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.

Author FXStreet

Jan 15, Thu

Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.

Standard Chartered lifts Ethereum call to $7,500, arguing institutional demand could leave Bitcoin trailing Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.

Author Mitrade

Jan 15, Thu

Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.

Bitcoin Flashes Classic Bottom Signals as BTC Nears $101K Reclaim Bitcoin nears two-month highs with key indicators signaling potential for further gains as it targets $101,000.

Author Mitrade

Jan 16, Fri

Bitcoin nears two-month highs with key indicators signaling potential for further gains as it targets $101,000.

Gold Price Forecast: XAU/USD surges to all-time high above $4,650 amid Greenland tariff threats Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.

Author FXStreet

4 hours ago

Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.

Related Instrument