TAG Turkey

USD/ZAR touches two year high on Turkey contagion

Turkey attempts to calm markets USD/TRY retreated from record highs above 7.00 struck early in today’s trading as markets took notice of comments from Turkish authorities on Sunday that they have drafted a stability plan. Turkey’s central bank said it had lowered reserve requirement ratios for banks to free up liquidity and assured markets that…

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OANDA Market Insights podcast (episode 27)

OANDA Senior Market Analyst Alfonso Esparza reviews the week’s business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week’s biggest stories: US sanctions against Iran, Turkish lira collapse after steel sanctions and market reaction to UK GDP data Big revisions offset July miss on payrolls Another strong US jobs report expected…

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USD/CAD Canadian Dollar Lower on Contagion Fears

Canadian Jobs Impress but Loonie Lower on Global Contagion Fears The Canadian dollar is lower on Friday. The USD/CAD is trading at 1.3083. Statistics Canada released a stronger than expected employment report with a huge gain of 54,100 jobs driving the unemployment rate down to 5.8 percent in July. The loonie failed to gain momentum…

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Edogan sworn in with increased powers

Recep Tayyip Erdogan will cap his years-long drive to transform Turkey’s government on Monday as he’s sworn in as an executive president with vastly expanded powers. Erdogan, modern Turkey’s longest-serving ruler, will be sworn in at parliament late in the afternoon. In the evening, he’ll mark the inauguration of the presidential system at a grand…

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Erdogan victory could be bad for Turkey

On already shaky footing, Turkey’s economy and assets are likely to be affected as all eyes turn to what the powerful and growth-hungry winner of Sunday’s elections — President Recep Tayyip Erdogan — will do next. The country is faced with a multitude of issues: The decline of the Turkish lira, its sky-high inflation rate…

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TRY thumped after Erdogan win

Monday June 25: Five things the markets are talking about Global stocks remain under pressure, as investors continues to analyse the impact of a trade spat between the world’s two largest economies – U.S and China. Markets are beginning to get very nervous by the prospect of a full-blown trade war, and this despite the…

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