Adding to the Calendar
Something else on the calendar tonight in Europe that I maybe didn't put as much weight on earlier, is the monetary policy decision coming out of Turkey, a little later on.
The Turkish lira has been consistently battered recently, as you can see by the following chart:
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It's almost Bitcoin-esque!
President Erdogan's influence on monetary policy and repeated calls for lower interest rates haven't exactly helped.
This is from Erdogan midweek:
"We have many instruments. I believe we will see interest rates fall in the period ahead.
"I am sure not just our state banks but our private banks will shoulder responsibility if necessary."
I don't think there's any doubt what we're getting tonight...
