Turkey's lira tumbled 1.5 percent to a record low against the dollar on Friday on nagging worries about the central bank's ability to rein in double-digit inflation and as the US currency made broad gains.
On a monthly basis, consumer prices in April saw a change of 1.87 percent - a climb from 0.99 percent in March - above expectations. It hit an all-time low of 4.2487 on Thursday after the release of figures showing inflation climbed to nearly 11 percent year-on-year in April. On Thursday, Standard & Poor's cut Turkey's rating, which stands to lose from resurgent USA interest rates, since many of its companies sit on a $228bn pile of dollarized debt.
It is one of the worst performing emerging market currencies this year. "Given the backdrop of upcoming presidential and parliamentary elections, and the possibility of political pressure for lower interest rates, the monetary policy committee may be hesitant to raise interest rates at its next meeting in June".
Prominent Runners: AK Steel Holding Corporation (AKS), Eldorado Gold Corporation (EGO)
United States Steel Corporation (NYSE:X) stock slipped -$5.33 lower during the regular trading session on Friday, hitting $32.37. Delpha Capital Management LLC acquired a new position in AK Steel during the 4th quarter valued at approximately $123,000.
The lira was at 4.2880 against the dollar by 0955 GMT after hitting 4.2901, its lowest on record.
The main share index dipped 0.35 percent and the yield on the benchmark 10-year bond rose to 13.25 percent from 12.93 percent on Wednesday.
"Let's face it, these guys are not going to default".
Formula 1 seeking to hold race in downtown Miami starting in 2019
He's also brought several worldwide soccer events to Hard Rock Stadium, which is seeking to host World Cup matches in 2026. Liberty Media have long desired to grow their brand in the United States and see this as the flawless opportunity.
On a monthly basis, consumer prices rose 1.87 percent versus 1.31 percent increase in the same period of 2017.
"Turkey's economy is overheating", S&P warned in its downgrade this week.
The bank on Monday lifted its end-2018 inflation forecast to 8.4 percent, when it announced its quarterly inflation report. Its next policy-setting meeting is on June 7.
On May, 1 Weight Watchers International, Inc. (WTW) EPS Estimated At $0.06
The institutional investors in our partner's database now have: 57.89 million shares, up from 55.46 million shares in 2017Q3. It has outperformed by 71.93% the S&P500.The move comes after 7 months positive chart setup for the $278.33 million company.
Inflation rose to 10.85 percent in April from 10.23 percent in March.