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  • Turkey rate decision: lifts overnight rate to 12% from 7.75

    From forexlive.com

    The Turkish decision has implications both for the lira and for other emerging markets. The overnight level was 7.75% This is a HUGE jump, expectations were only for a 2 – 3% hike - overnight lending rate to 12 from 7.75% one week repo to 10% vs. 4.5% - The Turkish central bank said it decided to implement strong tightening for price stability and to simplify operational framework Says to maintain tight monetary policy until clear improvement in inflation outlook Sees inflation at 5% in mid 2015 due to this stance - AUD and NZD both higher after the announcement (as is the Turkish lira, too) – the market taking ... (full story)

quick money..
More garbage news... this turkey is baked on arrival.
and the reaction comes dancing
trade safe
why the AUD only moving regarding the major pairs ?
وائل
Can someone explain please why aud is going up...what's the relationship with Turkish lira?
The good thing with the future is that it is progressively approaching...
What is Turkeys role in the world economy?
  •  Guest
  • | IP XX.XX.28.4
really quick money ? With 20 pips spread ... LOL
Quoting spinozagr
Can someone explain please why aud is going up...what's the relationship with Turkish lira?
There are rumors that RBA will peg AUD to Turkish Lira.

J/K.
EUR/TRY...2000 pips up/3000 pips down.. in 2 days .nice looking chart..lol
Turky is an emerging market, thus is closely connected to China and Australia is tightly dependant on export to latter.
Every bar tells a tale
[quote=Guest;7243827]really quick money ? With 20 pips spread ... LOL[/quote
Iam big player...I was long last week/2300pips..short from monday/2500pips...100lots
Is it that major militarized countries are based there to protect their countries interest? So stronger economies like US, Britian, Germany, Australia and China benefit when Turkeys economy is doing well? A rate change of 7.75% to 12% is a dramatic change. That tells me that Turkey is fighting inflation on a more extreme level here.
It will be interesting to see what happens there in 6months to a year.
Huge hike there to attract trader to buy lira and prevent it for collapsing
Bismillah
All these EM countries are linked in the global resource-go-round. China is probably their biggest customer. More importantly this rate hike stabilizes sentiment on EM, so risk on for now.
Twitter: @TrendersGame
Quoting ColdLogic
Turky is an emerging market, thus is closely connected to China and Australia is tightly dependant on export to latter.
First, it's spelled Turkey. Second, umm where is this country listed as an emerging market economy, let alone tied to China? Didn't realize there was a "T" in BRIC.
What's the effect on the gold? Does anybody know?
The good thing with the future is that it is progressively approaching...
720 pip down in a second usd/tur wtf !!!!!!
وائل
TRY is a high yield currency. Massive hike of TRY means that TRY is not safe anymore. So flight to other high yield currencies happened immediately: AUD, NZD, ZAR all gained.
damn i missed this trade
Lol..plenty of time...


Quoting aslamhammad
damn i missed this trade
USDTRY to 2.12
EURTRY to 2.89
?
It sparkles when you hold it up to sunlight.


Quoting spinozagr
What's the effect on the gold? Does anybody know?
Quoting spinozagr
What's the effect on the gold? Does anybody know?
no effect..this news is all about t.lira
Quoting wael shami
720 pip down in a second usd/tur wtf !!!!!!
power of the central banks
i was ready to sleep… when suddenly i saw the party…i wasn't invited but i decided not to miss it
The good thing with the future is that it is progressively approaching...
USD may plummet any time soon
Quoting Greener
USD may plummet any time soon
thats for sure...
The good thing with the future is that it is progressively approaching...
i am from turkey. and it is necessary to increase interest rate. because our country buy energy from other countries. because of this expensive dollar effect inflation rate. that is why BOT interfere currency rate through interest rate. i didnt trade because of high volatility.
Quoting Squeeze
It sparkles when you hold it up to sunlight.
hehehe… on the sunlight we are going to see charcoal ?
The good thing with the future is that it is progressively approaching...
i wonder what happens to usd/try during fomc federal fund rate?
bad news for gold…viva usd !!!
The good thing with the future is that it is progressively approaching...
  •  Guest
  • | IP XXX.XX.249.48
Quoting Idoscon
no effect..this news is all about t.lira
Sell gold- buy try effect
  •  Guest
  • | IP XX.XXX.243.130
gold is down....

usdtry down...
eurtry down...

Turkey new actor on world economy...
Quoting spinozagr
bad news for gold…viva usd !!!
are you drunk?
hahaha...either you or me... See the gold and the pairs of usd and let the history say
The good thing with the future is that it is progressively approaching...
short usd try for 1 week
Quoting krunfx
Huge hike there to attract trader to buy lira and prevent it for collapsing
Exactly. Unwinding was starting to grow...
WOW. Huge jump in bank overnight rate from 7.75% to 12%. I guess depositing money in Turkey for residents of the country will give huge returns.
Does anyone know the rates offered yearly by banks to term depositors in Turkey?
Leaders don't do different things, but they do the same things differently.
Quoting spinozagr
Can someone explain please why aud is going up...what's the relationship with Turkish lira?
There is no relationship!

Aust. is taken by the market as an emerging market(although it is not)due to it's exports to China(Relies heavily on 1 country)

Turks up interest rate's to slow the outflow of money from FED decisions that's all!

Expect other emerging markets to follow

ect,ect,ect
  •  Guest
  • | IP XX.XX.73.118
USDTRY - to 1,6
EURTRY - to 2,3
that should happened in a two months, 1 week repo was up from 4,5 to 10, i did not see this kind of interest rate hike newer...
EURTRY was 2,1 when repo was 6,5 with same economic outlook..
Uh-oh, they've almost doubled the rate ... they're gonna have to print a lot more to cover the extra interest costs IMO.
forget about tomorrow, just steal away into the night
  •  Guest
  • | IP XX.XX.11.233
Let's bring usd/Turkish lira downnnnn!!!!!
NOW bULISH AND BULISH FOR TRY ...W00000
what do you think about usd/zar, we just had the south arfrica interest decision???? USD/TRY should be retracing back down now slowly slowly
Quoting aslamhammad
what do you think about usd/zar, we just had the south arfrica interest decision???? USD/TRY should be retracing back down now slowly slowly
dont worry tomorrow will go up again at least a week include usd zar, we wait fomc.
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  •  Guest
  • | IP X.XXX.111.130
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  • Story Stats
  • Posted: Jan 28, 2014 5:01pm
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 45  /  Views: 10,222