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  1. #1
    Senior Member Deanfx's Avatar

    Hot Istanbul Stock Exchange National 100 Index in Free Fall !!!

    Hi guys,

    After several days of protests in Istanbul the situation still looks not very optimistic. The Istanbul Stock Exchange National 100 Index - XU100 traded more than 15% lower than the pick of 93178 on 22 May this year. You could check it here on Bloomberg portal! What do you think guys on this market? Is it good for Call trades or it will go worst?

  2. #2
    Junior Member nick_ross's Avatar
    Very interesting question and also difficult to answer! Probably the situation will clear soon, but the market dynamic will depend not only on the political development but also on the global market sentiment. If the global outlook looks positive, which looks very now XU100 will also retrace back higher. If the global market is going to meltdown the Istanbul stock exchange will collapse too. So it could not be given a clear answer to your question Deanfx. I am personally interested also on the significance of the Turkish Lira Carry Trade. With almost 6% interest rate it is among the highest in the world together with the South African Rand and Indian Rupee. If the lira denominated bonds are actively purchased from foreign investors it could accelerate lira appreciation and nice carry trade could form.

  3. #3
    Specialist Member marvel's Avatar
    I think now is the perfect moment to enter into long term carry in USD/TRY. The price met resistance at 1.91, forming a double top with the 2011 year high. You could see this formation in the picture attached!

    Click image for larger version. 

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