EUR/USD 1.15243
-0.002%
Gold 4373.74
-0.787%
Oil 80.580
-1.325%
USD/JPY 159.415
0.000%
GBP/USD 1.34761
-0.134%
GBP/JPY 214.834
-0.127%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 13th, MyFT (02556.HK) announced that its revenue for the first half of 2026 was RMB 1.96 billion, compared to RMB 928 million in the same period of 2025, representing a year-on-year increase of 111.2%; gross profit was RMB 886 million, representing a year-on-year increase of 96.5%; net profit for the period was RMB 203 million, compared to RMB 35.82 million in the same period of 2025, representing a year-on-year increase of 466.1%; and adjusted net profit was RMB 213 million, representing a year-on-year increase of 150.9%.On August 13, CK Asset Holdings Limited (01113.HK) released its interim results for 2026. The Group achieved revenue of HK$40.306 billion, an increase of 58.77% year-on-year; profit attributable to shareholders of HK$8.683 billion, an increase of 37.78% year-on-year; earnings per share of HK$2.48; and proposed to pay an interim dividend of HK$0.41 per share.On August 13, CK Hutchison Holdings Limited (00001.HK) announced that for the first half of 2026, the Group recorded a basic net profit of HK$12.592 billion, representing a 6% increase compared to the first half of 2025 in reporting currency. Basic EBITDA and EBIT, calculated in reporting currency, increased by 6% and 5% respectively compared to the same period last year, mainly due to strong performance in the port segment, robust growth in the retail segment, a significant increase in contributions from Cenovus Energy, and favorable foreign exchange fluctuations. For the first half of the year, profit attributable to ordinary shareholders was HK$26.785 billion. On an IFRS 16 basis, reported profit attributable to ordinary shareholders was HK$26.801 billion, with reported earnings per share of HK$7.00. The Board of Directors declared an interim dividend of HK$0.7455 per share to be paid on September 24, 2026.Eurozone industrial production figures for June will be released in ten minutes.Huahong Grace (01347.HK): In Q2 2026, sales revenue from China was US$563.7 million, accounting for 78.6% of total sales revenue, representing a year-on-year increase of 20.0%, mainly due to increased demand for MCUs, flash memory, general-purpose MOSFETs, logic and smart card chips.

USD/TRY reestablishes its annual high on route to 17.00, notwithstanding Erdogan's expectation of future inflation moderation

Alina Haynes

Jun 06, 2022 15:25

 截屏2022-06-06 下午3.23.52.png

 

In spite of Turkish currency (TRY) traders' inflation worries and President Erdogan's efforts to appease TRY purchasers, the USD/TRY continues to trade near $16.36, the highest level since 2022. The pair's upward momentum is influenced by Friday's high Turkish inflation data for May, as well as the US dollar's comeback over the last week, not to mention expectations of the Fed's faster/more aggressive rate rises.

 

According to Reuters, "Turkish President Tayyip Erdogan stated on Sunday that inflation numbers from the month of May, when annual consumer prices soared to a 24-year high, indicate that inflation is now on the down." It is noteworthy that the May inflation rate for Turkey increased to 73.5 percent in the most recent report.

 

Reuters also reported that the lira fell by 44 percent last year and has been the poorest performer in emerging markets for several consecutive years, mostly owing to economic and monetary policy worries under the administration of President Tayyip Erdogan.

 

In contrast, the odds supporting a 0.50 percent rate hike by the Federal Reserve in September have lately increased to 75 percent from 35 percent a week earlier, which emphasizes this week's US Consumer Price Index (CPI) data and favors US dollar purchasers. In spite of this, the US Dollar Index (DXY) reversed a two-week downward trend at Friday's close, trading down 0.14 percent intraday near 102.000 as of press time.

 

US Nonfarm Payrolls (NFP) for May came in at 390K, above expectations of 325K but falling short of the upwardly revised prior readings of 428K. In addition, the unemployment rate stayed constant at 3.6% against predictions of a minor reduction to 3.5%. In addition, the US ISM Services PMI dropped to 55.9 in May, compared to the market estimate of 56.4 and the flash reading of 57.1 in April. Following the release of the statistics, Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated that the Fed's only worry is inflation. The officials underlined that the likelihood of a recession has increased.

 

Wall Street benchmarks finished in the negative and US 10-year Treasury rates saw their first weekly increase in three weeks to reflect the risk-averse sentiment of the previous day. However, S&P 500 Futures increased by 0.5 percent to 4,126 and US 10-year Treasury rates fell by 1.3 basis points (bps) to 2.942 percent as per the most recent data available.

 

Amid a pre-Fed blackout for Fed officials and in anticipation of Friday's US CPI, USD/TRY traders should pay attention to risk drivers moving forward.

Technical Evaluation

A successful breach of the prior resistance line from early January, about 16.45 at the time of publication, would lead USD/TRY values toward the $17.00 mark before testing the late 2021 top at $18.36.


Suggestion