The CBRT keeps rates unchanged at 17% but remains hawkish
Turkish central bank (CBRT) kept interest rates unchanged at 17% as widely expected, on today’s policy meeting, but kept hawkish tone and showed readiness to further tighten policy to fight inflation that has risen to 15%.
The central…
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Evening doji star pattern is forming on daily chart but still early to talk about reversal
Cable fell to fresh intra-week low (1.3840) in early US trading on Wednesday, as upbeat US retail sales revived positive sentiment about the US economic recovery and lifted dollar.
Fresh weakness after Tuesday’s Doji, which signaled…
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UK inflation rises slightly above expectations in January
British inflation rose 0.7% in January after 0.6% increase in December and came slightly above 0.6% forecast, due to higher food prices and less discounting household goods, as the country went back into a coronavirus lockdown.
Inflation…
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Lira cracks key obstacles and rises to 28-week high; CBRT meeting in focus
The USDTRY fell to the lowest in 6 ½ months on Tuesday, following break and close below psychological 7.00 support on Monday.
The Turkish lira remains very attractive to investors and further acceleration could be expected.
The downtrend…
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Bulls probe through 5-day congestion ceiling
The Euro is attacking the upper boundary of five-day congestion (1.2081/1.2150) in early Tuesday’s trading.
Extended near-term sideways action is capped by Fibo 50% retracement of 1.2349/1.1952 pullback and rising 55DMA, with eventual…
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WTI oil rises above $60 for the first time since Dec 2019
WTI oil broke above psychological $ 60 barrier on Monday, hitting levels last traded in December 2019.
Recent tightening supplies by OPEC group and its allies, boosted expectations of full revival of global oil demand and rebalancing…
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Bulls head towards 1.40 barrier, boosted by UK vaccination news
Cable rose further on Monday, probing above 1.39 mark and hitting new highest since April 2018.
Strong bullish sentiment was boosted by the news that UK target of 15 million vaccinated that improves the outlook for recovery of British…
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UK economy contracts by record 9.9% in 2020
Britain’s economy, devastated by coronavirus pandemic, contracted by a record 9.9% in 2020 that marks the biggest fall in output in modern official records after the World War Two, while historical data suggest it was the biggest drop since…
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Silver is expected to shine in 2021 as demand rises to eight-year high
The Silver Institute, a global organization that draws its membership from across the silver industry, said it expects global demand for silver to rise to 1.025 billion ounces in 2021, its highest in eight years.
Increased purchases from…
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Bulls pause under new 34-mth high; psychological 1.40 barrier in focus
Cable is consolidating under new 34-month high (1.3866) posted on Wednesday after soft US CPI data deflated dollar and boost riskier pound.
Fresh bulls that emerged from Feb 2 strong downside rejection and bear-trap formation, remain in…
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