The Central Bank of Turkey cut the interest rates by 100 bps from 13% to 12%. The Central Bank proceeded with an interest rate cut as the inflation in August hit 80.2%.
USDTRY continues to hover at historical highs around 18.32.
Stocks, Crypto, Forex and Commodities Breaking News. The latest news and analysis on metals, energy, and agriculture. Live news about gold, silver, copper, platinum, natural gas, crude oil, wheat, soybeans, rice coffee, sugar, cocoa, lumber and cotton.
AUDUSD is trading lower today after the Australian central bank in a surprising move raised the benchmark interest rates by 25 basis points, below the expectations of a 50 basis points hike.
The Relative Strength Index (RSI) technical analysis indicator is used to recognize overbought and oversold conditions in forex and stock trading.
Main events this week include the Bank of Canada interest rate decision, German GfK and Ifo surveys, European S&P Global PMI’s, US PCE Price Index and US Durable Goods Orders
