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The iShares MSCI Turkey ETF (NASDAQ:TUR) gains 5.7% in premarket trading as the Turkish lira strengthens 4.9% against the U.S. dollar, snapping the currency's worst losing streak in 20 years. The lira plunged after President Recep Tayyip Erdogan defended the Turkish central bank's decisi...
"The Turkish lira is TOAST," John Hopkins Economist Steve Hanke writes in a tweet. "Pres Erodgan's insistence on low-interest rates sent the lira into a death spiral." The lira tumbles nearly 12% against the U.S. dollar on Tuesday, and has lost 40% of its value this year a...
The plunging Turkish lira prompts an unscheduled meeting between Turkey's president, Recep Tayyip Erdogan, and the country's central bank chief, Bloomberg reports, citing an official with knowledge of the meeting. The official didn't provide details on what was discussed, and the presidency d...
The iShares MSCI Turkey ETF (NASDAQ:TUR) closed Monday -1.16% and has dropped 8.48% in pre-market trading for Tuesday morning. TUR has dropped like a stone because the Turkish Lira dropped 8.8% to a record 12.49 against the U.S. dollar. Turkish President Erdogan ...
Emerging markets are on watch after the Turkish lira suffered one of its worst days since a currency crisis in August 2018. The freefall was prompted by comments from President Recep Tayyip Erdogan, who praised a third consecutive monthly interest rate cut and asserted that his country was fi...
The Turkish Lira falls more than 4% to $11.06 against the dollar, a new all-time low, after the country's central bank cut the one-week repo rate by 100 basis points to 15% amid double digit inflation. The iShares MSCI Turkey exchange-traded fund is off by nearly 3% in pre...
The focus on Wall Street is all about inflation and whether the Fed is making a policy mistake. If there’s one major central bank that’s hoping to catch a break on inflation, the Bank of England is surely it. The week kicks off with a selection of Chinese data releas...
The October inflation report is expected to show pricing pressures run to the hottest levels since 1990. China releases Inflation data on Wednesday but in the immediate term markets will be on tenterhooks over the coming weekend. Australian employment data on Thursday will cause i...
The Fed will announce ‘mission accomplished’ on reaching “substantial further progress” on both inflation and employment mandates. Despite Christine Lagarde’s best efforts, the markets were not buying what she had to sell which could be extremely pro...
Wall Street still remains upbeat despite a growing energy crisis that threatens the economic recovery, widespread price increases, and mixed economic data. If energy costs seem poised to head much higher, the unbalanced global economic recovery could dent risk appetite and lead to som...
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2024-07-15 01:26:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-06-15 05:44:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-05-24 15:58:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...