Forex Market

The Turkish lira rose about 1%, to offset some of the recent losses it incurred for the third day in a row with growing expectations that the central bank will raise interest rates from 17% next week. The lira was steady at 7.44 against the US dollar, rising from Wednesday’s …

The U.S. Dollar (USD) returned to the positive territory on Wednesday, after briefly declining following the release of inflation data. Data by the United States Bureau of Labor Statistics showed that the Core Consumer Price Index (CPI) in February declined to 1.3%, falling to meet market expectation of 1.4%. The …

Turkey’s unemployment rate fell to 12.2% in January and the labor force participation rate rose to 50% from a month ago, according to data released on Wednesday that was presented in a new form in line with international standards. The unemployment rate was 12.6% in December and 12.8% a year …

Turkey has extended the ban on layoffs for two months, starting March 17, according to a presidential decree. The ban was imposed last year to limit the impact of the Coronavirus pandemic on employment and the economy at large. The Turkish President has the power to extend it for a …

The U.S. Dollar (USD) rose on Monday, reaching its highest level in three and a half months, supported by higher demand due to the increasing Treasury bond yields. The Dollar Index (DXY), which measures the USD’s performance against a basket of six major international currencies, is up by 0.35% at …

The Turkish lira fell 0.7% today, recording a decline in ten of the last eleven sessions, with high inflation, global bond yields and oil prices in a test of the central bank’s pledge to tighten monetary policy. After raising interest rates to 17% in December, Central Bank Governor Naji Iqbal …

The U.S. Dollar (USD) rose on Friday supported by the increase in Treasury bond yields amid improved outlook for economic recovery, after data showed that the American economy added a higher than expected number of new jobs last month. The Dollar Index (DXY), which measures the greenback’s performance against a …

The U.S. Dollar (USD) rose on Thursday against safe-haven currencies, such as the Japanese Yen (JPY) and the Swiss Franc (CHF), supported by the increase in Treasury yields. The USD/JPY pair is up for the day by 0.57%, trading at 107.620. The pair has been moving today in a range …

The UK services sector activity came less than expectations in February, the final report from IHS Markit came out this Wednesday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised higher to 49.5 in February versus 49.7 expected and a 49.7 – last month’s flash reading.

The Canadian Dollar (CAD) rose against its U.S. counterpart despite the decline of crude oil prices, after data showed that Canada’s real Gross Domestic Product (GDP) expanded by 0.1% in December, which came below market expectations. Figures published by Statistics Canada showed on Tuesday that the November reading was revised …