47.851
Today
+0.20%
5 Days
+0.33%
1 Month
+1.78%
6 Months
+9.38%
Year to Date
+11.71%
1 Year
+17.20%
Opening Price
47.894Previous Closing Price
47.754Commerzbank’s Tatha Ghose notes that the Central Bank of the Republic of Türkiye's (CBRT) survey shows market participants revising inflation forecasts higher and expecting only gradual rate cuts from current effective levels.
Commerzbank FX analyst Tatha Ghose highlights persistent inflation pressures and renewed current account deterioration as key drivers for continued weakness in the Turkish Lira against the Dollar.
Commerzbank’s Tatha Ghose notes Turkey’s July Consumer Price Index (CPI) slowdown to 31.7% year-on-year masks still-strong underlying price momentum, with smoothed headline and core inflation above 2% month-on-month.
Commerzbank’s Tatha Ghose analyses Turkey’s June trade figures, highlighting a 26.2% year-on-year widening of the trade deficit to USD 10.4 billion. While exports and imports both rebounded after May’s holiday distortions, imports are running stronger than exports.
Tatha Ghose at Commerzbank flags Fitch’s latest review of Turkish banks as another negative signal for the Lira. Profitability has weakened after regulatory changes on FX risk-weighted assets, with capital ratios lower and margins squeezed by prior rate cuts and high costs.
According to Commerzbank’s Tatha Ghose, the Central Bank of the Republic of Türkiye (CBRT) kept its one-week repo rate at 37.0% and maintained the corridor at 35.5%-40.0%. With the repo window still closed, effective funding remains near 40%, which Ghose views as Lira-supportive.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
As long as 48.0223 is support, look for 48.1027
below 48.0223, expect 47.9980 and 47.9836.
As long as 48.0223 is support, look for 48.1027
Popular Instruments
