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Turkish Lira Drops To Record Low Against U.S. Dollar As Erdogan Wins Runoff Election
(RTTNews) - The Turkish lira dipped against the U.S. dollar on Monday, as Tayyip Erdogan won the country's presidential run-off election on Sunday.
Erdogan attained 52 percent of the vote in the second round of voting, whereas his opponent Kemal Kilicdaroglu got 47.86 percent.
The win gives him another five-year term, extending power until 2028.
The Turkish lira touched a record low of 20.07 against the greenback from yesterday's close of 19.87.
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Turkish Lira Falls To 4-week Low Against U.S. Dollar
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.
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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.
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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.
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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.
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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.
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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".
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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.
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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.
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