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

Bitcoin shows strong correlation with institutional demand following 7% uptick Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.

Author FXStreet

Yesterday 01: 37

Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.

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

23 hours ago

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

23 hours ago

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 Hits $97K Despite Elevated PPI and Lack of US Tariff Decision Despite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.

Author Mitrade

19 hours ago

Despite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.

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

2 hours ago

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

Related Instrument