ANKARA, February 22 (Reuters) – Turkey’s finance minister has defended the foreign exchange reserve policy of his predecessor Berat Albayrak, saying transactions that had led to a sharp fall in reserves were a response to the extraordinary demands of the COVID-19 pandemic.Albayrak, the son-in-law of President Tayyip Erdogan, abruptly stepped down in November shortly after..
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Turkish Finance Minister defends predecessor’s foreign exchange reserve policy
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Gold Bullish Bounce at 38.2% fiber, but upward breaking
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Gold (XAU / USD) builds a bullish bounce around $ 1760 – $ 1800. The dual motherboard pattern (blue box) could fuel the reversal. The XAU / USD uptrend saw the price break above the $ 2,000 level in the 1st half of 2020. But the 2nd half of 2020 has been much quieter. Let’s..
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Gold buyers keep the faith, the price gets closer to $ 1,800
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Gold is on the rise today as commodities maintain their early lead Despite higher yields (real yields too) and the dollar holding its ground today, gold is finding a foothold after testing the November 30 low of $ 1,764.80 last week.Key support level maintained and gold maintains a slight rebound towards $ 1,800 again, with..
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EUR / GBP heads to five-year uptrend at 0.8591 – Commerzbank
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EUR / GBP is heading towards the 2016-2021 uptrend at 0.8591. A break below would expose the May 2019 low at 0.8465, informs the FICC’s head of technical analysis research at Commerzbank. Key quotes EUR / GBP resumed its bearish movement last week and starts this week with attention to the 2016-2021 uptrend at 0.8591,..
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Economist from the German IFO: Economy geared towards recovery.
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Following the exit of the final German IFO business survey, institute economist Klaus Wohlrabe said the economy was looking for a recovery. Additional quotes “The climate has improved in construction, retail and services.” “Particularly pronounced improvement of the climate in industry.” Production plans have been significantly revised upwards. “Travel agencies and tour operators are slightly..
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EUR / USD is targeted at the weekly L5 Camarilla
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EUR / USD is in a bearish trend. We may have completed a bearish retracement and the price is just below 78.6. 1.2130-50 are POC zones. We can see a good confluence within the zone and we can expect a further continuation down towards W L3, W L4 and possibly W L5. Targets are 1.2120..
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IFO economist says German economy is looking to recover
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Comments by Ifo economist Klaus Wohlrabe The climate has improved in construction, retail and servicesParticularly pronounced in the industrial sectorProduction plans have been significantly revised upwards Invest in yourself. Check out our forex training center. Much of that has to do with more hopeful optimism on the vaccine front, as it reinforces the rhetoric that..
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German IFO Business Climate Index beats estimates with 92.4 in February, EUR / USD regains 1.21
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The German IFO Business Climate Index stood at 92.4 in February. IFO’s current economic valuation stood at 90.6 this month. The German IFO expectations index in February came in at 94.2. more soon …. About the German IFO The IFO Business Climate Index was rebased and recalibrated in April after the IFO Research Institute changed..
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Incoming escape for EUR / CHF?
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The pair briefly hit their highest level since December 2019 Invest in yourself. Check out our forex training center. EUR / CHF buyers are taking a run at key levels to start the week, crawling above 1.0900 for the first time since June of last year and testing era highs at 1.0915 currently.The pair has..
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USD / CNH now target 6.4920 – UOB
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UOB Group’s FX strategists see USD / CNH shift focus to the near term 6.4920 level. Key quotes 24 hour view: “Our expectation for the USD to ‘move to 6.4800 first before easing’ did not materialize, trading between 6.4426 and 6.4680 before the close , little change. The current move is considered part of a..
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