After a rough start to the year , Turkish Financial Markets have been rather positive for the past few months.
BIST 30 have been rallying almost without a break. Previous all time highes are broken and market is trading 6-7% above the previous highs at the moment. Waiting for a pullback to possibly enter a long position at a favorable price.
Turkish Lira has been strong against USD after the shock rally to 3.90's at the beginning of the year. TL is Trading around 3,5154 and close to 200 day Moving average (blue line), which has been a significant support since the break out from 1,8's.
It is a good level to increase USD position thus
24.087,16 TL is transferred from monthly interest account to increase USD position further.
Strength of EUR against USD is keeping EURO more stable compared to USD.
Also Spot Gold prices going up in USD terms, however in TL terms, due to strength of TL, prices have been consolidating within 140-150 range
Current position and the perfomance is summarized below :
No comments:
Post a Comment