Weekly Currency Review: Turkish Lira Surges
Turkish Lira Rises After Change In The Inflation Forecasts
The Central Bank of Turkey modified its inflation forecast for 2019, reducing it from 15.2% to 14.6%. There is a hope to achieve 8.2% target inflation by 2020. Murat Cetinkaya, governor of the Central Bank, vowed to keep tight monetary policy stance until there is a “convincing improvement” in inflation rate.
Turkish lira gained 2.52% against the US dollar in 7 days and I Know First algorithm successfully predicted this movement.
(Source: finance.yahoo.com)
Canadian Dollar Surges
Canadian dollar has strengthened against US dollar and Japanese yen mainly due to the crude oil price fluctuations. While Canada supplies oil to Japan and US, there is going to be a positive correlation between the crude oil prices and the two currency pairs (CAD/JPY and CAD/USD).
I Know First successfully predicted the two currency pairs’ trends in two different time frames. For 7 days: CAD/JPY – +1.64%, USD/CAD – -1.04%; for 14 days CAD/JPY – +1.60%, USD/CAD – -1.25%.
(Source: finance.yahoo.com)
(Source: finance.yahoo.com)
(Source: finance.yahoo.com)
Israeli Shekel Rises Against US Dollar
US dollar was weak against Israeli shekel ahead of the Federal Reserve meeting on January 30, 2019. The most common investors’ expectations were a pause in FED’s tightening policy and a downward revision of the economy’s growth forecast. Based on the meeting outcomes investors’ expectations didn’t realize, as a result the USD/ILS went down.
Israeli shekel was strengthening against US dollar over the past two weeks and I Know First successfully predicted USD/ILS price for two time frames. For 7 days the change was -2.32% and for 14 days -1.79%.
(Source: finance.yahoo.com)
Past I Know First Currency Forecasts
On the charts below, you can see I Know First Currency Forecasts for the past 14 days and 7 days. They included long and short recommendations. The hit ratios for those forecasts was 71.15% and 61.54%, respectively.
How to interpret this diagram
Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to the current I Know First subscribers.
If you want to receive the most relative and up-to-date algorithmic forecasts from I Know First, please click here.
Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster.
Please note-for trading decisions use the most recent forecast.
