Advertisement
Turkish Lira Falls To 4-week Low Against U.S. Dollar
(RTTNews) - The Turkish Lira fell against the U.S. dollar in the New York session on Thursday, despite a 500 basis-point hike by the Turkish central bank.
Turkey's central bank raised the policy rate to 30 percent from 25 percent, citing rising inflation and fuel prices.
Inflation readings were above expectations in July and August, the bank said.
"As the strong course of domestic demand and the stickiness of services inflation persist, the increase in oil prices and the ongoing deterioration in inflation expectations pose additional upside risks to inflation."
The Turkish Lira touched 27.12 against the greenback, its lowest level since August 24, when it reached a record low.
read more
Turkish Lira Drops To Record Low Against U.S. Dollar As Erdogan Wins Runoff Election
The Turkish lira dipped against the U.S. dollar on Monday, as Tayyip Erdogan won the country's presidential run-off election on Sunday.
RTTNews
|
695 days ago
French Private Sector Downturn Worsens
France's private sector activity came under renewed pressure in April due to pronounced demand weakness in the domestic market and sharp deterioration in confidence, flash survey data from S&P Global showed on Wednesday. The HCOB composite output index registered 47.3 in April, down from 48.0 in March. The reading was expected to ease to 47.8.
RTTNews
|
7 minutes ago
Sensex, Nifty Follow Global Peers Higher; IT Stocks Take Lead As Tariff Worries Ease
Indian shares rose notably on Wednesday due to easing trade tensions and U.S. President Donald Trump's softer stance towards the Fed chairman.
RTTNews
|
23 minutes ago
DAX Rises 3% As Trump Tones Down Rhetoric On Powell, Tariffs; SAP Surges On Results
German stocks are rising sharply on Wednesday, buoyed by some upbeat corporate earnings updates, and a somewhat softer tone from U.S. President Donald Trump on the tariff issue, and toward Federal Reserve Chair Jerome Powell.
RTTNews
|
31 minutes ago
European Shares Rally As Trump Comments Help Ease Fed, Trade Worries
European stocks rose sharply on Wednesday after U.S. President Donald Trump toned down his rhetoric on Jerome Powell, saying he would like to see him be a little more active in terms of his idea to lower interest rates but have no intention to fire him.
RTTNews
|
1h 18min ago
Asian Shares Follow Wall Street Higher As Trump Backs Off Threat To Fire Fed Chief
Asian stocks followed Wall Street higher on Wednesday after U.S. President Donald Trump backed down from threats to dismiss Federal Reserve Chair Jerome Powell and also signaled that 145 percent tariffs on Chinese imports will "come down substantially".
RTTNews
|
1h 44min ago
European Economic News Preview: Eurozone Flash PMI Data Due
Flash composite Purchasing Managers' survey from the euro area and the UK are the top economic news due on Wednesday. At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for March. The budget deficit is seen at GBP 15.4 billion compared to GBP 10.7 billion in February.
RTTNews
|
4h 56min ago
European Shares Set To Rise As Trade Tensions Ease
European stocks may open on a buoyant note Wednesday as optimism grew over a potential easing of trade tensions between the U.S. and China and U.S. President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell, helping calm investor concerns over the Fed's independence.
RTTNews
|
4h 56min ago
