Published On: Sat, May 5th, 2018

Financial markets in Turkey and the rise in US dollar Turkish Lira rate

Financial markets in Turkey and the rise in US dollar Turkish Lira rate

Turkish lira keeps losing against US dollar – BusinessTurkeyToday.com

 

Looking at the data provided by official sources, Turkey’s financial markets did not have a very enjoyable performance last week. While the BIST 100 index decreased by 309.90 points compared to the previous close, the total transaction volume was realized as 7.3 billion TL. Banking index was observed to increase by 1.64 percent.

The BIST 100 index started the day with a declining trend and tested the level of 101,500 points. It was then balanced above 102,500 points.

Experts have commented that the USD / TL saw the highest level of all times with 4.2903 due to the appreciation of the dollar in the global markets and the dollar was balanced at USD / TL above 4.24 also due to the fact the rise in the US non-farm employment was below expectations.

The data agenda is not expected to be very strong in Turkey next week. However markets will follow the intense data day to come from abroad to include issues such as interest rate decision by Central Bank of England and inflation figures in the USA.

Analysts forecast that 101,500 and 106,300 points will be support and resistance levels respectively on BIST 100 next week.





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