The USD/JPY Pair Above 150! | Who Will Replace Liz Truss? | The Central Bank Of Turkey Cut Interest Rates
Aa
Share
Liz Truss resigned. Normally, a PM resignation means uncertainty and limited visibility; it’s not a preferred scenario for the market. But the little time Liz Truss stayed in power was so hectic that investors welcomed the news that she departs sooner rather than later.
All eyes are on who will replace Liz Truss?
Forex
In the FX, the US dollar continues extending its rally across the board, and there is nothing the other currencies can do.
The dollar-yen is now trading above the 150 level, with prospect of another Bank of Japan intervention.
The Central Bank of Turkey cut interest rates by another 150bp yesterday. Turkish stocks gained, as Turkish Airlines hit 100 lira level.
The results
American Airlines revenues grew 13% compared to the same time in 2019, and other airline companies also hinted at strong results.
Snap, however, nosedived 27% in the afterhours trading, after reporting the lowest ever quarterly sales growth due to lower advertising spending.
On the macro front, the Philly Fed manufacturing index came in softer than expected, but the weekly jobless claims fell – which certainly fueled the hawkish Fed expectations.
Watch the full episode to find out more!
- 0:00 Intro
- 0:24 Who will be the next UK PM?
- 4:21 FX update: USDJPY above 150!
- 5:09 Turkey cuts, stocks rally
- 7:37 Airlines report strong results, Snap dives
- 8:37 Why the US jobless claims keep falling?!
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
#Liz #Truss #resignation #Rishi #Sunak #Boris #Johnson #Penny #Mordaunt #GBP #UK #CBT #TRY #TurkishAirlines #AmericanAirlines #Snap #earnings #USD #JPY #BoJ #PhillyFed #jobless #claims #Fed #hawks #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary
___
Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr
___
Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5
___
Let's stay connected: LinkedIn: https://swq.ch/cH
