Goldman Sachs: $4 Billion Outflow from Money Market Funds Went into Turkish Lira Deposits

Goldman Sachs stated that after a $4 billion outflow from money market funds in the first two weeks of September, the money leaving the funds predominantly shifted to Turkish lira deposits. According to the bank's analysis, the monthly increase in lira-denominated deposits reached approximately $20 billion. The fund outflows had raised concerns in the market that the money could move towards foreign currency and gold. However, Goldman Sachs' assessment indicates that the outflows largely went into TL deposit accounts. This increase in TL deposits signals that investors preferred to allocate the funds exiting the funds into lira-denominated instruments. Thus, the concern about a shift towards foreign currency and gold has not materialized for now. According to Goldman Sachs' data, the monthly increase in lira deposits reaching $20 billion has limited the impact of fund outflows on currency preferences. Not investment advice.

📊 GS — Piyasa Yorumu

■ neutral · 55%

The news indicates fund flow towards Turkish lira deposits; this could be mildly positive for banking stocks in the short term, but the direct impact on GS specifically is limited. Technical indicators are mixed: RSI at 52 is neutral, MACD is in negative territory but above the signal line (positive divergence), price is above SMA20 but below SMA50. The 0.89% decline in the last 24 hours and weak momentum may limit the impact of the news. A sideways-volatile course is expected in the short term; the news alone does not generate a strong directional signal.

RSI 14

52.6

MACD

-3.60

24h Δ

-0.89%

📊 USDTRY — Piyasa Yorumu

▲ up · 35%

According to a Goldman Sachs report, the outflow of $4 billion from money market funds into Turkish lira deposits indicates increased local demand for the lira. This could act as a supportive factor for the lira in the short term, creating downward pressure on USDTRY. However, technical indicators are giving mixed signals: RSI at 55.8 is in neutral territory, MACD is slightly below its signal line, and the price is just above the SMA20 and SMA50. With the change over the last 24 hours nearly zero, the market is currently directionless. The impact of the news may be limited; whether the shift to TL deposits is permanent and the continuation of institutional flows should be monitored.

RSI 14

55.8

MACD

0.01

24h Δ

0.01%

Canlı Grafikler