Dollar / TL Decreased with Statements from IMF, Gram Gold Returned from Record

Dollar / TL Decreased with Statements from IMF, Gram Gold Returned from Record

  As the coronavirus (Covid-19) pandemic, which caused great damage to the world economy, continues to be seen, we see that the money of the developing countries is increasing in the markets today. Volatility has accelerated with the statements coming from the IMF today in the markets that started the morale with the decrease in the loss of lives. The coronavirus epidemic continues to damage all countries' economies without saying big or small, but the economy of the developing countries is weaker and the IMF has stated in its statement that the necessary support can be provided at this point. In a statement made today, IMF President Georgieva said that global growth will turn negative in 2020 due to the coronavirus epidemic, and that the per capita income will turn negative in many countries. Drawing a rather pessimistic picture, President Georgieva reiterated that they will support the developing countries that are members. government rather attitude about without debt or support for the IMF, but Georgieva, making calls to the question of how to continue the process with Turkey and the talks will continue or weeks, we ended the speech with the words we are ready to support. In economically difficult situation in which developing countries are also on the rise with statements from passing per Georgieva was accompanied by the rise of Turkey then explanations and USD / TRY rate on a daily basis with a loss of close to 2% 6,62'y fell. The Mexican peso, South African rand, Brazilian rea and Indonesian rupee were also premium at 2% during the day. The eyes are now on government officials, especially on President Erdogan. In the previous statements, it was said that the IMF notebook was completely closed, now we will follow together how to make progress. Another important move that took place today was on the gold side. Ounce gold has accelerated towards $ 1,680, with unemployment benefits in the US still falling at record highs of 6.6 million and a drop in the dollar. Gram gold, on the other hand, reached 361 TL, but with the decline of USD / TRY at the last hour, it can be said that gram prices have recovered from the new record level at the last moment. On April 6, when gram gold reached record levels by exceeding 364 TL, the ounce gold was at $ 1,670, while the USD / TRY rate rose to 6,7920 to see the peak of 19 months, so the gram peaked the historical one. Ounce rose to $ 1,680 today, but the dollar dropped to $ 357,600, with the dollar pushing over 6.73 and declining to 6.62 in the last hour. We have already mentioned in our previous reports that purchases above the $ 1,660 resistance at the ounce price may show targeted $ 1,700, and if the USD / TRY rate closes today at 6.66, the exchange rate may retry tomorrow again over 6.70. At this point, with the attack on the ounce, there can be progress towards 365 TL in gram price. Following the announcements from the IMF, the government's response in this regard may be effective in pricing the TL tomorrow. * The decrease in coronavirus-induced loss rate in the last week supports the markets, but the fact that the epidemic still increases faster and the vaccine is not available makes it unclear when normalization will begin. Also, the statements of major central banks and funders such as the Fed and IMF that the risks are high and will continue further. On the other hand, it should be noted that this process, which continues to shake the large economies so much, even if the recovery in the assets of the developing countries is seen from time to time, will not be very positive for GUs.