Turkey Consumer Confidence Improves In January

Turkey’s consumer confidence improved at the start of the year, after weakening in the previous month, figures from the Turkish Statistical Institute showed Monday.

The consumer confidence index rose to 66.9 in January from December’s 14-month low of 63.4.

Households’ financial situation expectations strengthened in December. The corresponding index climbed to 87.9 from 85.4 in the prior month. Similarly, the index measuring general economic situation expectations picked up to 88.6 from 86.0.

The number of people unemployed expectation index increased by 5.4 percent over the month to 68.9 in January. The probability of saving index climbed notably from 16.7 to 22.4.

The material has been provided by InstaForex Company – www.instaforex.com

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Fxwirepro: Usd/cny Hovers Around 6.85 Mark, Pboc sets Yuan Mid-Point at 6.8572

  • USD/CNY is currently trading around 6.8511 marks.
     
  • It made intraday high at 6.8764 and low at 6.8333 levels.
     
  • Intraday bias remains bearish for the moment.
     
  • A sustained close above 6.8728 marks will test key resistances at 6.8789, 6.9080, 6.9162, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
     
  • Alternatively, a daily close below 6.8728 will drag the parity down towards key supports at 6.8510, 6.8449, 6.8090 and 6.7769 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • PBOC sets Yuan mid-point at 6.8572/ dollar vs last close 6.8820.
     
  • China's registered urban unemployment rate at 4.02 pct at end-2016 –Xinhua.                                                

We prefer to take short position in USD/CNY around 6.8570, stop loss at 6.8785 and target of 6.8333/6.8298.

The material has been provided by InstaForex Company – www.instaforex.com

The post Fxwirepro: Usd/cny Hovers Around 6.85 Mark, Pboc sets Yuan Mid-Point at 6.8572 appeared first on forexnewstoday.net.

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