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4 May 2015
USD/TRY climbs to 2.72 post-CPI
FXStreet (Edinburgh) - The Turkish lira is losing ground vs. the greenback on Monday, with USD/TRY hovering over the 2.7130 area.
USD/TRY stronger after data
After dipping to session lows in the 2.7030 area, the pair gathered further traction after consumer prices in the Turkish economy rose at a monthly pace of 1.63% vs. consensus at 1.32%; over the last twelve months, prices rose in line with expectations just above 7.9%. Further data showed the manufacturing PMI tracked by HSBC ticking higher to 48.5 during the last month and producer prices raising 1.43% inter-month, surpassing estimates.
USD/TRY important levels
As of writing the pair is up 0.235 at 2.7142 with the next resistance at 2.7390 (high Apr.27) ahead of 2.7437 (high Apr.24). On the flip side, a breach of 2.6626 (low May 1) would expose2.6470 (low Apr.30).
USD/TRY stronger after data
After dipping to session lows in the 2.7030 area, the pair gathered further traction after consumer prices in the Turkish economy rose at a monthly pace of 1.63% vs. consensus at 1.32%; over the last twelve months, prices rose in line with expectations just above 7.9%. Further data showed the manufacturing PMI tracked by HSBC ticking higher to 48.5 during the last month and producer prices raising 1.43% inter-month, surpassing estimates.
USD/TRY important levels
As of writing the pair is up 0.235 at 2.7142 with the next resistance at 2.7390 (high Apr.27) ahead of 2.7437 (high Apr.24). On the flip side, a breach of 2.6626 (low May 1) would expose2.6470 (low Apr.30).