Turkey’s economy will grow 3% this year and next, lower than the government’s recently updated forecasts, a Reuters poll of economists showed on Monday, pointing to a much deeper slowdown as authorities seek to douse rampant inflation.
The US currency has been in demand in recent weeks as employment and inflation readings spurred bets on a slower pace of rate cuts by the Fed, after the central bank cut rates by a hefty 50 basis points in September and announced the start of an easing cycle.
Oil prices slid as much as $3 to a near two-week low during Asian trade on Tuesday on the back of a weaker demand outlook and after a media report said Israel is willing not to strike Iranian oil targets, which eased fears of a supply disruption.
Bitcoin’s price rose on Tuesday after Democratic presidential candidate Kamala Harris pledged to support a regulatory framework for crypto, while the prospect of delayed distributions by Mt Gox also buoyed sentiment.
Crude oil for November delivery was down 4.25% or 3.14 to $70.69 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 4.14% or 3.21 to hit $74.25 a barrel, while the December Gold Futures contract rose 0.22% or 5.90 to trade at $2,671.50 a troy ounce.
