USD/TRY extends the upside to the proximity of 14.0000

USD/TRY advances further near 14.00 on Tuesday.
Turkey Manufacturing PMI came at 50.4 in February.
Markets’ attention remains on the Russia-Ukraine conflict.

Pablo Piovano FXStreet

The Turkish lira loses further ground and pushes USD/TRY back to the proximity of the 14.00 neighbourhood.

USD/TRY looks bid amidst rising risk aversion

The worsening conditions in the Russia-Ukraine dispute continue to undermine any attempt of recovery in the risk complex and the EM FX.

By the same token, the march north in prices of oil and the rest of the commodities remains unabated and put the Turkish economy and the lira under extra pressure.

In the domestic calendar, the Manufacturing PMI eased a tad to 50.40 in February (from 50.50).

USD/TRY key levels

So far, the pair is advancing 1.02% at 13.9380 and a drop below 13.7143 (low Feb.25) would expose 13.5091 (low Feb.18) and finally 12.4317 (low Feb.11). On the other hand, the next up barrier lines up at 14.6052 (2022 high Feb.24) seconded by 18.2582 (all-time high Dec.20).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD stays weak above 0.6900 after China’s trade data

AUD/USD struggles to capitalize on the previous day’s recovery and stays defensive on the 0.6900 level following the narrowing of trade surplus in China. Increased December Fed rate hike bets allows the US Dollar to pause its decline and weigh on the pair. US CPI data is next of note for the major.

USD/JPY retakes 158.00 on weak Japanese data; focus shifts to US CPI

USD/JPY attracts some dip-buyers and retakes 158.00 in the Asian session on Tuesday as a fall in Japan’s Household Spending offsets hawkish BoJ Summary of Opinions, undermining the Japanese Yen. Moreover, Fed hike bets support the safe-haven US Dollar and the currency pair. The market focus now shifts to the release of the crucial US CPI report.

Gold slides below $4,100 as Fed hike bets exert pressure ahead of US CPI

Gold extends its intraday descent and slides below the $4,100 mark, reversing a major part of the previous day's strong gains to the $4,150 resistance. Firming US Federal Reserve rate-hike expectations turn out to be a key factor driving flows away from the non-yielding bullion. Meanwhile, the US Dollar struggles to lure buyers amid mixed signals regarding the state of diplomatic talks between the US and Iran. This could offer some support to the commodity as traders seem hesitant ahead of US consumer inflation figures.

Pi Network rebounds from record lows, exits oversold territory as momentum improves

Pi Network (PI) shows a strong recovery on Tuesday, up over 7% after recording its all-time low of $0.0624 the previous day. PI token’s appeal in the derivatives market shows minor improvement, with Open Interest rising to $6.21 million.

US CPI data set to ease in October as markets reassess Fed rate hike expectations

The US Bureau of Labor Statistics will publish the October Consumer Price Index data on Tuesday, a release that could influence the US Dollar valuation as investors reassess the Federal Reserve’s interest-rate outlook. The report won’t include 12-month percentage changes for most CPI series in this release, due to missing October 2025 monthly data because of the lack of collection during the government shutdown from October 1, 2025, to November 12, 2025.

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.