Saturday, January 16, 2021
Bitcoin Market News
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
Bitcoin Market News
No Result
View All Result

USDTRY At Monthly Lows Ahead Of Thursday’s CBRT Policy Meeting

8 months ago
in Private
2 min read
USDTRY At Monthly Lows Ahead Of Thursday’s CBRT Policy Meeting
Share on FacebookShare on Twitter


USDTRY correction accelerates today making fresh monthly lows ahead of Thursday’s central bank of Turkey policy meeting. Analysts expect that CBRT will cut interest rates for the ninth consecutive meeting, in an attempt to offset the impact of the COVID-19 outbreak on the turkish economy. In July 2019 the interest rates were at 24%.
As Turkeys economy returns gradually to normality, the sentiment improves for TRY. Turkish lira managed to bounce back from historic lows that hit early in May amid the deterioration in the country’s currency reserves and foreign financing needs.
The central bank will probably cut the interest rates by 50 basis points, to 8.25%. Turkey’s interest rate is now negative as it stands at 8.75% below the annual inflation of 10.9%.
The International Monetary Fund predicts that Turkey’s economy may contract by 5% this year.
The foreign currency-denominated debt increased speculation that Turkey is approaching a currency crisis. Turkey’s private sector held $177.6 billion in fx debt as of March 2020, according to the most recent data from Turkey’s Central Bank. 61.8% of this debt was denominated in dollars, 33.5% in euros, 3% in Turkish lira, while the remaining 1.8% was held in a variety of other foreign currencies.

USDTRY Price Resistance and Support

USDTRY is 1.27% lower at 6.7968, as the pair correction targets now the 50-day moving average support. The technical outlook remains bullish for the pair despite the recent sharp correction. A break below the 50-day SMA might cancel the positive momentum for the short term.   

On the downside, the first support for USDTRY stands at 6.7635 the daily low. The next support level stands at 6.7363 the 50-day moving average. More bids might emerge at 6.6632 the low from April 10.     

On the upside, first resistance for USDTRY stands at 6.8768 the daily top. If the pair breaks higher, then the next resistance will be met at 6.9187 the high from May 15. If the bullish momentum persists, the next target will be met at 6.9677 the high from May 14. 



Read more:USDTRY At Monthly Lows Ahead Of Thursday’s CBRT Policy Meeting

Related articles

Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position | Finance Bitcoin News

Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position | Finance Bitcoin News

January 16, 2021
The Latest: Oregon governor blames feds for vaccine delay

The Latest: Oregon governor blames feds for vaccine delay

January 16, 2021
Tags: Aheadbitcoin news todayCBRTLowsMeetingMonthlyPolicyThursdaysUSDTRY

Related Posts

Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position | Finance Bitcoin News

Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position | Finance Bitcoin News

by Bitcoin Market
January 16, 2021
0

Bahamas-based Deltec Bank & Trust said during a recent video review that it’s holding a “large position” in bitcoin....

The Latest: Oregon governor blames feds for vaccine delay

The Latest: Oregon governor blames feds for vaccine delay

by Bitcoin Market
January 16, 2021
0

SALEM, Ore. - Gov. Kate Brown said Friday that plans to vaccinate Oregon residents over 65 starting next week...

Man makes last-ditch effort to recover $280 million in bitcoin he accidentally threw

Man makes last-ditch effort to recover $280 million in bitcoin he accidentally threw

by Bitcoin Market
January 15, 2021
0

The reflection of bitcoins in a computer hard drive.Thomas Trutschel | Photothek via Getty ImagesLONDON — A British man...

CryptoStar Corp. Announces Closing of Non-Brokered Private Placement of Units and

Voyager Announces Private Placement

by Bitcoin Market
January 15, 2021
0

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE...

Man offers city $72M to dig up accidentally discarded Bitcoin fortune

Man offers city $72M to dig up accidentally discarded Bitcoin fortune

by Bitcoin Market
January 14, 2021
0

James Howells, the owner of a discarded hard drive with 7,500 Bitcoin (BTC), has made a fresh plea to...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

December 11, 2020
Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

December 21, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

December 4, 2020
The Most Secure Cryptocurrency Wallets for Different Users

The Most Secure Cryptocurrency Wallets for Different Users

November 1, 2020
As The Bitcoin Price Whipsaws, These Radical New Cryptocurrencies Are Still Soaring

As The Bitcoin Price Whipsaws, These Radical New Cryptocurrencies Are Still Soaring

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
As The Bitcoin Price Whipsaws, These Radical New Cryptocurrencies Are Still Soaring

As The Bitcoin Price Whipsaws, These Radical New Cryptocurrencies Are Still Soaring

January 16, 2021
Optimism’s Ethereum-based scaling solution has soft launched on mainnet

Optimism’s Ethereum-based scaling solution has soft launched on mainnet

January 16, 2021
US NTSB team arrives in Indonesia to look into jet crash

US NTSB team arrives in Indonesia to look into jet crash

January 16, 2021
Cryptocurrency scams on the rise during pandemic

Cryptocurrency scams on the rise during pandemic

January 16, 2021
3 Unstoppable Stocks That Can Outpace Bitcoin in 2021 | The Motley Fool

3 Unstoppable Stocks That Can Outpace Bitcoin in 2021 | The Motley Fool

January 16, 2021
The Best Bitcoin Mining Software for 2021

The Best Bitcoin Mining Software for 2021

January 16, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • BTC

    (USD 36,315.93)

  • ETH

    (USD 1,236.57)

  • XRP

    (USD 0.28)

  • BCH

    (USD 493.62)

  • EOS

    (USD 2.80)

  • LTC

    (USD 144.94)

  • XMR

    (USD 156.34)

  • TRX

    (USD 0.03)

  • USDT

    (USD 1.00)

  • BNB

    (USD 43.43)

  • BTG

    (USD 12.86)

  • BCN

    (USD 0.00)

  • BTCP

    (USD 0.11)

  • ZRX

    (USD 0.53)