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

Understanding the first crypto market crash of 2024 and what to expect next The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.

Author FXStreet

Jan 04, Thu

The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.

Natural Gas sinks to pivotal level as China’s demand slumps Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Author FXStreet

Jul 01, Mon

Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Gold price extends its decline below $2,500 on the US Dollar recovery The Gold price (XAU/USD) loses ground amid the stronger US Dollar (USD) and higher US Treasury bond yields on Tuesday.

Author FXStreet

Sep 03, Tue

The Gold price (XAU/USD) loses ground amid the stronger US Dollar (USD) and higher US Treasury bond yields on Tuesday.

Top XRP Ledger Dev Calls Out Ripple’s Leadership On Smart Contract Pivot Wietse Wind, founder of XRP Labs—one of the leading independent XRP Ledger development companies—has published an open letter to the community and Ripple.

Author Bitcoinist

Sep 04, Wed

Wietse Wind, founder of XRP Labs—one of the leading independent XRP Ledger development companies—has published an open letter to the community and Ripple.

Bitcoin (BTC) Price Struggles Put Short-Term Holders at a Disadvantage In recent months, a cohort of Bitcoin (BTC) holders has been notably affected by the coin’s struggle to stabilize above $70,000. This group comprises short-term holders (STHs) — investors who have held the asset for less than 155 days.

Author Beincrypto

Sep 06, Fri

In recent months, a cohort of Bitcoin (BTC) holders has been notably affected by the coin’s struggle to stabilize above $70,000. This group comprises short-term holders (STHs) — investors who have held the asset for less than 155 days.

Related Instrument