News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • 🇳🇱 Consumer Confidence (OCT) Actual: -30.0 Previous: -28.0 https://www.dailyfx.com/economic-calendar#2020-10-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.60%, while traders in EUR/USD are at opposite extremes with 74.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fLkteBRqGu
  • The $SPX seems to have worked itself into an inevitable technical break, but follow through is unlikely given the election anticipation. Nevertheless, the Tesla aftermath on Thursday's open will be something to watch . My trading video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/10/22/SP-500-Due-a-Technical-Break-Dollar-Slides-on-Stimulus-Delay-Pound-Rallies.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/XPwZSCZqju
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/s0tvG7QXwJ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.12% 🇳🇿NZD: -0.12% 🇪🇺EUR: -0.14% 🇨🇭CHF: -0.16% 🇨🇦CAD: -0.20% 🇦🇺AUD: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/n7Phs46BX1
  • Heads Up:🇳🇱 Consumer Confidence (OCT) due at 04:30 GMT (15min) Previous: -28.0 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.46% Wall Street: -0.58% US 500: -0.58% Germany 30: -0.60% France 40: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xog2DUbSzY
  • British Pound Price Outlook: GBP/USD, GBP/JPY, EUR/GBP Key Levels - $GBPUSD poised to push higher after breaching key resistance. - $GBPJPY rebound struggling to break above the August low. - $EURGBP coiling up above key support https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/10/22/British-Pound-Price-Outlook-GBPUSD-GBPJPY-EURGBP-Key-Levels.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GBP https://t.co/Qr9Tl7Qse9
  • The US Dollar is once again losing ground against #ASEAN FX as $USDGD and $USDIDR may be readying to extend losses. Will $USDMYR and $USDPHP follow? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/22/US-Dollar-Technical-Forecast-USDSGD-USDIDR-USDPHP-USDMYR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/olomq6jsAD
  • 🇹🇭 Balance of Trade (SEP) Actual: $2.230B Expected: $3.55B Previous: $4.35B https://www.dailyfx.com/economic-calendar#2020-10-22
Euro Wobbles As Investors Fret Bank Exposure To Turkey

Euro Wobbles As Investors Fret Bank Exposure To Turkey

2018-08-10 07:00:00
David Cottle, Analyst
Share:

Talking Points - Euro, Eurozone Banks, Turkey, Lira

  • The Euro was pressured against a generally stronger US Dollar
  • Turkey’s woes may well have been responsible
  • There are mounting concerns about European bank exposure to the troubled country

See how a trade war might affect the world of currencies here

The Euro wilted quite sharply as Asian trade faded out on Friday, with worries about Turkey widely reported to be behind the move.

The Turkish Lira was hammered this week.USD/TRY has soared and the Lira has lost about 30% of its value against the greenback this year alone. Now it seems that possible contagion to European banks exposed to Turkey is an additional worry for investors.

Euro vs US Dollar Chart - 5min

The Financial Times has reported that the Eurozone’s financial watchdog - the Single Supervisory Mechanism - is concerned about the exposure of major lenders such as Unicredit, BBVA and BNP Paribas to Turkish business.

EUR/USD duly slipped below the 1.1500 handle, getting as low as 1.1432 before stabilizing back above 1.1450.

The move came against the backdrop of a generally stronger US Dollar and Japanese Yen as trade-war fears saw investors pile back into perceived haven assets. Now Turkey seems to be giving them a reason to double down on this trade.

With memories of the Eurozone’s own banking crisis still raw, it seems likely that Turkish headlines will weigh on the Euro for some considerable time to come.

Friday will bring some more risk events on this subject. President Erdogan is due to speak at 1100GMT, and again at 1330, with Finance Minister Berat Albyrak crossing the wires with a new economic programme at 1130.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter @DavidCottleFX or use the Comments section below to get in touch!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES