Dollar / TL rose in the second half of the day

The dollar / TL, which tested below 7.30 in the first part of the day, turned its direction up in the afternoon. The TL, which erased the intraday gains, depreciated against the dollar, while the exchange rate climbed above 7.37. The euro / TL, drawing similar graphs, rose to 8.92

Dollar / TL rose in the second half of the day

After the week started with sharp declines, the exchange rates, which increased slightly yesterday, continued to decline in the first part of the day, despite the increase in inflation data above expectations. The dollar / TL, which appreciated around 7.34-7.35 in the morning, broke down to 7.30 after the opening of the markets and the arrival of inflation data. Euro / TL fell below 8.85.

In the second half of the day, as the wind reversed, the Turkish Lira erased the intraday gains against the dollar and euro. As the exchange rates started to rise, the dollar / TL saw above 7.37. Euro / TL increased up to 8.92.

There was a clear divergence from similar currencies in the value gain as well as the depreciation in USD / TL that started from 6.9 and continued until 7.4850. While the Turkish lira gained about 2.5 percent against the dollar on Monday, gains in similar currencies were generally less than 1 percent.

The Coronavirus Scientific Committee will convene by video conference method under the chairmanship of Health Minister Fahrettin Koca (17.00).

In the US, ADP private sector employment figures will be monitored as usual before the non-farm employment data to be announced on Friday (15.00).

Other data in the US will be MBA mortgage data (15.00), service sector PMI (17.45), ISM Service Industry PMI (18.00), DOE oil stocks (18.30). Service Sector PMI data will be monitored in global markets.

Euro Zone producer prices (13.00) will be the other important data of the day. In the USA, the 'Beige Book' report will be announced (21.00).