#USDTRY @ 19.5146 : No major changes in Turkish elections to result in additional Lira turmoil – SocGen
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
The Lira has been on a weakening trend since December 2021, slipping past 19.50/USD. Economists at Société Générale analyze where the USD/TRY could go depending on the results of the Turkish elections.
“Intervention by the authorities has depleted FX reserves to record lows, exposing the currency to potentially more turmoil in the event of a status quo scenario and no major changes to the political landscape.”
“Any selling is likely to be countered by the authorities and means a controlled rather than abrupt depreciation is more likely.”
“Unconventional monetary policy tactics of liraization may then endure and result in additional Lira selling. In this scenario, we pencil in 20.00/USD by the end of this quarter and 24.50/USD by 1Q24. If on the other hand Erdogan is defeated by Kilicdaroglu, and the opposition block Nation Alliance can form a majority in the Grand Assembly, Lira assets should rally on the basis that policy orthodoxy will be restored.”
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
