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XM Research

XM Research - 1 year ago

Turkish lira falls apart, what can turn the tide?

The Turkish lira has gone into freefall, losing more than 20% of its value in the last month alone. Plagued by artificially low interest rates, extremely high inflation, and a shortage of FX reserves, there isn’t much on the horizon that can change the lira’s fortunes. A short-term recovery is possible after such a dramatic fall, but the broader trend remains overwhelmingly negative.  Lira breaks down It has been a devastating month for the Turkish currency.
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XM Research - 1 year ago

Daily Market Comment – Markets calm before the central bank storm

Massive week begins, featuring rate decisions in US, Europe, and Japan US inflation report also on tap tomorrow, could influence Fed decision Yen hits seven-year low against pound, Turkish lira goes into freefall Calm ahead of key events A bombshell week lies ahead for global markets. Interest rate decisions in the United States, Eurozone, and Japan will almost certainly fuel volatility in every asset class, especially if the rhetoric of these central banks deviates from the preva
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XM Research - 1 year ago

Daily Market Comment – Biden and McCarthy agree to raise US debt ceiling

Biden and McCarthy find common ground, deal ready for Congress vote Dollar takes a breather, but summer hike bets increase Turkish lira slips to new record low as Erdogan secures victory Wall Street gains, mainly driven by chip stocks Biden and McCarthy agree to suspend debt ceiling until 2025 The dollar traded lower against most of the other major currencies on Friday, and continued its retreat today, even as US President Biden and Congressional Republican McCarthy reached common g
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XM Research - 1 year ago

Daily Market Comment – Dollar back in action as Fed considers another rate hike

Dollar comes back to life after Michigan data and hawkish Fed remarks Rising yields inflict damage on Japanese yen, but gold finds dip buyers Demand concerns haunt oil prices, Turkish lira sinks after elections Dollar reawakens  After getting battered and bruised for several months now, the US dollar might be on the cusp of a comeback.
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XM Research - 1 year ago

Week Ahead – Focus on US retail sales as debt ceiling drama rumbles on

With no central bank decisions on the menu next week, investors will turn to data releases. Top of the list is the US retail sales report, which will help shape expectations about the Fed’s rate path, driving the dollar accordingly. There is also an onslaught of economic data from most major economies to keep traders busy, alongside an election in Turkey and the ongoing drama around the US debt ceiling.  Can the dollar shake off the blues?  It’s been a rough year for the dollar so far.
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