Barclays: Pace of depreciation in USD/TRY increased in October

Barclays reported that the monthly pace of depreciation of the Turkish lira against the dollar rose to 1.8% in October from 1.6% in September. The bank shared this development in its assessment of exchange rate dynamics. According to Barclays, unless there is a significant decline in energy prices, the Central Bank is not expected to slow this pace of depreciation. The bank is of the view that under current conditions, the monthly rate of increase in the exchange rate may be maintained. However, Barclays warned that if the depreciation accelerates further, this could put pressure on dollarization and reserves. The bank implied that this risk should be carefully monitored in terms of monetary policy and reserve management. Not investment advice.

📊 BARC — Piyasa Yorumu

▲ up · 70%

Barclays' assessment that the pace of depreciation in the USD/TRY exchange rate increased in October indicates that pressure on the Turkish lira persists. Such analyst notes may strengthen the perception of upward risk in the exchange rate, leading to a cautious stance in local assets. In the short term, volatility in the lira may rise and foreign investor sentiment may weaken. Overall market direction may diverge more negatively for Turkey compared to emerging markets.

RSI 14

—

MACD

—

24h Δ

0.00%

📊 USDTRY — Piyasa Yorumu

▲ up · 55%

Barclays' assessment that the lira's depreciation accelerated in October could create mild upward pressure on USDTRY. However, the price is already near the 50 level and the 24-hour change is nearly flat; the news is likely largely priced in. RSI at 59.8 is in neutral-to-upward territory, MACD is slightly below its signal and momentum is weak. The price trading just above SMA20 and SMA50 supports a limited upward bias, but there is no strong breakout signal. I foresee a moderately upward but low-confidence picture in the short term.

RSI 14

59.8

MACD

0.01

24h Δ

0.01%

Canlı Grafikler