Two things I never thought I would say in EM FX:
a) TRY reached 7 before CNY
b) TRY dragging CNY towards 7
Yes, we are here. What will happen this afternoon? Why do you think there's panic in TRY? Fear of CAPITAL CONTROLS. Maybe something good'll happen but man…
We are HERE pic.twitter.com/jqQWtMEj54
— Trinh (@Trinhnomics) August 13, 2018
As the Lira gyrates looking for direction of support, it swung to PARITY W/ THE CNY today.
TRY = CNY
Captured this (Bitter) Sweet FX moment 🤢 Time to think about disclosures at the back of sales pitch (strategists take NO RESPONSIBILITY FOR UR TRADE & INVESTMENTS HAVE RISKS). pic.twitter.com/bEuNn7ivA5— Trinh (@Trinhnomics) August 13, 2018
KIM DOTCOM: THE BIG CRASH IS COMING 100% pic.twitter.com/hxuerV3ek8
— Alastair (@StockBoardAsset) August 12, 2018
— Alastair (@StockBoardAsset) August 12, 2018
https://twitter.com/L0gg0l/status/1028759001700462593
dollar blows up world
— Alastair (@StockBoardAsset) August 13, 2018
#Erdogan today:
1) Threatened industrialists for dumping their Turkish lira
2) Threatened businesspeople for not selling their products
3) Threatened the US with consequences in the region & on the US soil.
4) Threatened with slashing interest rates as opposed to expectations.— Abdullah Bozkurt (@abdbozkurt) August 12, 2018
World on brink of GLOBAL crisis as lira plunges to ALL TIME LOW pic.twitter.com/wFirkylq3V
— Alastair (@StockBoardAsset) August 13, 2018
"August is always a popular month for an EM crisis." – Deutsche Bank
— zerohedge (@zerohedge) August 13, 2018
BBG: Global markets and emerging currencies are reeling from the Turkish crisis pic.twitter.com/sprn3cShFX
— Alastair (@StockBoardAsset) August 13, 2018
W A R N I N G pic.twitter.com/C5itLdOirK
— Alastair (@StockBoardAsset) August 13, 2018
It is beyond his control
“Money, capital has a life of its own…it’s a force of nature, like gravity, like the oceans it flows where it wants to flow” ~ Maxwell Emory – Rollover 1981 $SPX $DXY $TLT https://t.co/AE5040L1ht
— Edward Dowd (@DowdEdward) August 12, 2018
#Turkey #TurkeyCrisis #Lira pic.twitter.com/kbQsYsV7AJ
— Alastair (@StockBoardAsset) August 12, 2018