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Factors that may affect Turkish financial markets

The lira stood at 5.1 against the dollar at 0508 GMT, after weakening to an all-time low of 5.1131 in early trade on Friday.


Reuters Last Updated at 03 Aug 2018, 10:08 IST Turkey
Factors that may affect Turkish financial markets
  • The lira stood at 5.1 against the dollar at 0508 GMT, after weakening to an all-time low of 5.1131 in early trade on Friday. It had closed at 5.0743 on Thursday. (Image Credit: Twitter)

Here are news, reports, and events that may affect Turkish financial markets on Friday.

The lira stood at 5.1 against the dollar at 0508 GMT, after weakening to an all-time low of 5.1131 in early trade on Friday. It had closed at 5.0743 on Thursday.

The yield on the benchmark 10-year bond was at 18.28 percent at Thursday's close.

The main BIST 100 share index fell 2.74 percent to 94,543.27 points on Thursday.

GLOBAL MARKETS

Asian stocks inched on Friday following a tech-led rise on Wall Street, although the latest exchange of trade threats between Beijing and Washington capped gains and drove safe haven flows to the dollar, which hovered near a two-week high.

Investors also remain cautious ahead of the July U.S. jobs report due later on Friday, which will give a reading on the health of the world's largest economy and possible clues about the pace of Federal Reserve interest rate rises.

CAVUSOGLU-POMPEO MEETING

U.S. Secretary of State Mike Pompeo and Turkish Foreign Minister Mevlut Cavusoglu will meet on the sidelines of regional meetings in Singapore on Friday to discuss bilateral ties that sank to fresh lows after Washington imposed sanctions on two Turkish ministers.

Deteriorating relations between the two NATO allies over divergence of interests in Syria policy and security threats have spiraled into a full-blown crisis over the court case of a Christian American pastor.

INFLATION

Turkish Statistic Institute to release inflation figures for July. (0700 GMT)

ERDOGAN

Turkish President Tayyip Erdogan will hold a press conference to detail the planned projects in the coming 100 days.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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