Turkish lira
Investor Enthusiasm Pauses
December 28, 2023
Two opposing themes are vying for the attention of investors: 1) rising hopes that an initial interest rate cut by the Federal Reserve may be only a couple of months away and 2) mounting fear of a broader war in the Middle East. Yesterday’s equity rally in the United States extended into Asia where share […] More
A Turn for the Worse on Several Fronts Sends Equities Sharply Lower Around the World
December 20, 2021
The highly infectious Omicron Variant of Covid 19 is threatening to overwhelm hospitals and forcing authorities in many places to reimpose tighter restrictions against social gathering. Pfizer’s Covid vaccine trial on kids aged 2-5 did not result in an immunity rise as had been expected, which creates a childcare crisis and will likely prevent many […] More
Weaker Turkish, South African and British Currencies
March 28, 2019
The Turkish lira slumped 5% against the dollar overnight when Turkish reserves data showed a large drop from previous intervention to support that currency. Still no word from the South African Reserve Bank’s monetary policy review, but analysts aren’t anticipating a rate hike. However, there is concern ahead of Moody’s sovereign debt call on South […] More
Dollar Up against Turkish Lira but Down Versus Mexican Peso
August 27, 2018
There’s been little net movement of the dollar against the euro (+0.1) or yen (-0.1%), loonie (+0.1%), or Aussie and New Zealand dollars (0.2). Sterling and the Swiss franc are each unchanged from closing levels before the weekend. Gold and oil are 0.3% and 0.4% softer. The 10-year German bund yield edged up a basis […] More
Fresh Bout of Weakness in Turkish Lira
August 17, 2018
The dollar was little changed on net overnight against the the euro, Swiss franc, sterling, yuan, Canadian dollar, Australian dollar or New Zealand dollar, but it jumped 4.8% against the Turkish lira. Turkey’s finance minister said capital controls or a deal with the IMF won’t been necessary. President Trump is considering additional tariffs against Turkey […] More
Dollar Loses Ground
June 7, 2018
The dollar fell overnight by 0.9% against the euro, 0.5% versus the Swiss franc, 0.2% relative to the yen, and nearly 2% vis-a-vis the Turkish lira. The lira had been slumping this year on rising inflation, increasingly autocratic politics, and the central bank’s pressured neglect of its currency. A 75-basis point interest rate hike in […] More
A Focus on Italy, Korea, Turkey & Oil Prices as U.S. and Britain Observing Holidays
May 28, 2018
Italian President Mattarella rejected the League/5-Star choice for economy/finance minister, whereupon that coalition withdrew its bid to lead Italy’s government and called for Mattarella’s impeachment and immediate election. Mattarella then asked former IMF Director of Fiscal Policy Cottarelli to form a provisional governing coalition. Elections likely no later than the autumn. Italian share prices dived 1.3%, […] More
Three-Pronged Blow to European Confidence
May 23, 2018
Italy is poised to get a populist, anti-euro, anti-austerity, and pro-Russia governing coalition. Being the third largest economy to use the euro, this development poses an existential risk to the common European currency that is far greater than the debt problems of Greece. Ten-year sovereign debt yields rose 10 basis points today in Italy in […] More
Market Spotlight on Turkey and Spain
October 9, 2017
On a day when holiday closures in the United States (Columbus Day), Japan (Health Sports Day), Canada (Thanksgiving), and South Korea (Hanguil Day) ordinarily might be expected to sap the market of leadership and thus depress volatility, there have been big movements affecting Turkey and Spain. A diplomatic dispute between Turkey and the United States […] More
Continuing Focus on Emerging Market Difficulties
January 27, 2014
Asian share prices were battered additionally at the start of the new week. Stocks fell 2.5% in Japan, 2.6% in Indonesia, 2.1% in Hong Kong, 2.0% in Thailand and India, 1.8% in the Philippines, 1.6% in South Korea and Taiwan, 1.3% in China and Malaysia, and 1.1% in Singapore. While the British Ftse followed suit […] More
