Dollar to Turkish Lira Rises to 33.0840 Amid Market Uncertainty
Today, on July 15, 2024, the dollar to Turkish Lira (USD/TRY) exchange rate has started the day with an uptick, currently trading at 33.0840.
Following a trend of increase on Friday, the USD/TRY closed the day at 33.0500, up 0.7% from the previous close.
At 10:10 AM, the USD/TRY continued its upward trajectory, trading at 33.0840, 0.1% higher than the previous close. At the same time, the euro to Turkish Lira (EUR/TRY) is trading just above the previous close at 36.0530, while the British Pound to Turkish Lira (GBP/TRY) has seen a slight decrease to 42.8910, down 0.1%.
The dollar index closed Friday with a 0.3% decrease at 104.1 and is currently trading at 104.3, up 0.2% from the previous close.
Market Influences and Economic Outlook
Over the weekend, an attempted assassination on former US President Donald Trump, a Republican presidential candidate, has impacted asset prices, with markets assessing the potential implications of his potential re-election.
Analysts highlight that the focus of the markets this week will be on the European Central Bank’s (ECB) interest rate decision. Additionally, analysts anticipate monitoring statements from Federal Reserve (Fed) Chairman Jerome Powell today. Expectations remain strong for the Fed to begin cutting interest rates this year, with investors looking for further clues on the bank’s future policies from Powell’s remarks.
Key economic data scheduled for today includes industrial production in the Eurozone and the New York Fed manufacturing index in the US. Technically, analysts point out that resistance levels for the dollar index are at 105 and 106, while support levels are at 103 and 102.
Source: NTV / Prepared by Irem Yildiz