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Turkey is scheduled to report its third-quarter GDP figures on Monday. For many traders, it will be at the end of an extended weekend. The economic situation in Turkey is, shall we say, complicated. Even though the data is relatively old at this point, it could help provide a boost for the lira.
Despite a resurgence in risk appetite in global markets this week, the lira has once again started weakening. Nearly half of the gains were erased following the surprise move by the CBRT earlier in the month.
Why is GDP Expected to be Upbeat?
Turkey has seen the same spike in covid cases as most of the world has, with daily confirmed infections growing past the peak seen in the spring. But, the pick-up in cases was relatively delayed, presumably as colder weather reached the country later than further north in Europe.
On the other hand, it would imply that Turkey has longer to go before reaching the peak, compared to, for example, France.
The delayed increase in cases means that Turkey managed ...
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