TRY: CBT seen cutting rates by 150bp as easing cycle continues – ING

💡 DMK Insight

Turkey’s potential 150bp rate cut is a game changer for forex traders, especially with ETH at $2,985.75. A significant rate cut like this could weaken the Turkish lira further, prompting traders to look for safe havens or alternative assets like cryptocurrencies. If the CBT signals a willingness to continue cutting rates, expect increased volatility in the forex market, particularly against the USD and EUR. This could also lead to a surge in demand for ETH as investors seek to hedge against currency depreciation. Keep an eye on ETH’s support levels around $2,900; a break below could trigger further selling pressure. Conversely, if the rate cut is perceived as insufficient, the lira might stabilize, impacting crypto demand negatively. Watch for the CBT’s forward guidance post-meeting. If they hint at more aggressive cuts, it could create a ripple effect across emerging markets and crypto assets, leading to potential trading opportunities in both forex and crypto markets.