USD/TRY prods two-day uptrend 26.00 on mixed Turkish inflation signals, focus on US employment, PMI clues – by anilpanchal7 USDTRY Inflation Employment RiskAversion Fed
While tracing the catalysts, receding fears of worrisome inflation leading to the economic debacle in Turkiye seem to allow the TRY to lick its wounds of late. On Wednesday, Turkish
That said, a jump in Chinese investor buying Hong Kong and Macau wealth products join pessimism about China’s top-tier housing players like Shimao Group, as well as the government-backed Sino-Ocean Group, to amplify economic fears about the world’s biggest industrial player China. Additionally, tit-for-tat trade war measures by the US and China join the
Moving on, today’s US ISM Services PMI and ADP Employment Change for June, as well as China headlines and recession woes, will be crucial for clear market directions.USD/TRY sellers should wait for a clear downside break of the weekly low of around 25.82 for fresh short positions. That said, the 5-DMA level of around 25.97 restricts immediate downside of the Turkish Lira pair. Alternatively, the all-time high around 26.
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