CBRT September Balance of Payments: Current Account Surplus $2.72 Billion

The Central Bank of the Republic of Turkey (CBRT) announced balance of payments statistics for September. According to the data, the current account recorded a surplus of $2 billion 720 million in September. Among the sub-items of the current account balance, the indicator excluding gold and energy posted a surplus of $7 billion 342 million in the same period. This data reveals the impact of gold and energy items, which are the main determinants of the foreign trade deficit, on the current account balance. Balance of payments statistics reflect a country's flows of goods, services, income, and transfers with the rest of the world. A surplus in the current account indicates a reduction in external financing needs. The September data announced by the CBRT show a picture of a surplus rather than a deficit. The fact that the surplus is higher when gold and energy are excluded confirms the decisive role of these two items on the current account balance. Not investment advice.

📊 USDTRY — Piyasa Yorumu

▲ up · 55%

The current account surplus coming in at $2.72 billion, above expectations, can be viewed as a factor in favor of the Turkish lira. However, with USDTRY's last close at 50.37, slightly above its SMA20 and SMA50, an RSI at 62, and the MACD above its signal line, the technical picture is already mildly positive. The current account surplus news may support this trend, but its effect on the exchange rate could be limited and short-lived. While a slight upward trend is expected over a 1-3 day horizon, the confidence level is moderate due to the possibility that the news is already priced in and uncertainty over global risk appetite. I do not anticipate an overly aggressive move.

RSI 14

62.0

MACD

0.03

24h Δ

0.09%

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