Bearish investors are looking for an opening to take down the already weak US dollar. The exchange rate is predicted to go down to its support level in the coming sessions as the greenback continues to weaken in the trading sessions. That should help bearish investors force the 50-day moving average to slightly go down towards the 200-day moving average. Just recently, it was reported that a former chief economist said that the Turkish central bank has no more room to lower its official interest rates. This comes after months-long of easing cycle that drove the inflation-adjusted borrowing costs to even below zero. The former bank official was fired last year when after Turkish President Erdogan fired the chief for not easing their rates. According to reports, the former bank official warned the risks brought by the dangerous combination of low-interest rates, a big bond-buying program, and the bank’s credit stimulus.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.