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April 19, 2024 12:18 PM UTC
Bottom Line: Turkiye’s annualized current account deficits (CAD) stood at $31.8 billion as of February 2024 when compared to $37.6 billion a month earlier, driven by a marginal increase in the services surplus, a reduction in the gold trade deficit, and a recovery in net energy trade. We envisage
April 19, 2024 11:45 AM UTC
A quiet European morning session saw a modest risk recovery, with the riskier currencies all edging higher against the USD, JPY and CHF. EUR/JPY gained around half a figure to 164.70, based on EUR/USD and USD/JPY both rising around 20 pips to 1.0660 and 154.50 respectively.
April 19, 2024 12:00 AM UTC
EMERGING ASIA
EM currencies perform individually against the USD as the greenback retraced earlier losses on strong manufacturing index. SGD saw the largest losses of 0.12%, followed by CNH 0.08%, HKD, PHP and INR 0.01%; while the biggest winner is KRW by 1.00%, TWD 0.34%, IDR 0.28%, MYR 0.16% and TH
April 18, 2024 2:10 PM UTC
March existing home sales with a 4.3% decline corrected a sharp 9.5% February increase. 2023 also saw a sharp February increase that was gradually reversed and more during the rest of the year. As rate cut hopes fade, existing home sales look set to slip further.