USD/TRY: Global monetary easing stops TRY’s free fall - Danske Bank

Matías Salord FXStreet

According to analysts from Danske Bank, the TRY is stabilising on a global turn in monetary easing, while a lower oil price could wipe away the extra burden on Turkey’s external position. They warn domestic risks has not disappeared.

Key Quotes:

“Because of global monetary relief, we adjust our USD/TRY outlook, enhancing that the fragile domestic and geopolitical environment is still in place. Large FX debt redemptions by the Turkish private sector and expected rate cuts later in 2019 are set to weigh on the TRY in 2019 and 2020.”

“We remain bearish on the TRY in the long term, expecting the USD/TRY to reach the following levels: 5.70 (previously 6.10) in 1M, 5.90 in 3M, 5.90 in 6M and 6.20 in 12M.”

“Major downside risks to our TRY forecasts include more aggressive monetary easing than markets are pricing, further escalation of the trade war and geopolitical confrontation with the US on Russia’s air defence system.”

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.