Turkish Lira Collapse

[errolanderson]

Big overnight fallout in Turkish Lira and Russian Ruble pulling Euro sharply lower. This is middle of night, but appears to be investor rush toward U.S. treasuries. Stock markets and commodities may come under heavy selling pressure. Gold and loonie being impacted. USD sharply higher.

Don’t like the smell of this one . . . .

[SASKFARMER3]

So people with money are heading back to the USA dollar?

Big money is moving?

Canada could of been joined at the hip but no our idiot is a idiot.

Just asking

[Daylate]

interesting times ahead.....

[errolanderson]

interesting times ahead.....

Trump also doubling steel and aluminum tariffs on Turkey this morning.

Monday stock market could be interesting as contagion risk 'sinks-in' across European banks over the weekend. We are now in an economic war . . . .

[iceman]

This can’t be good for the red lentil market.

[errolanderson]

Turkish lira hits record low tonite. Asian markets currently under heavy selling pressure. Turkish leadership attempting to calm markets.

Concern now is whether financial market contagion risks can be minimized. Heightened volatility likely for both equities and commodities this week . . . .

[Oliver88]

Another backwards country, interesting to see how low their currency will drop while the USA places sanctions against them.

[AlbertaFarmer5]

Turkish lira hits record low tonite. Asian markets currently under heavy selling pressure. Turkish leadership attempting to calm markets.

Concern now is whether financial market contagion risks can be minimized. Heightened volatility likely for both equities and commodities this week . . . .

Errol I always read what you have to say, and appreciate you taking the time to contribute, and offer another perspective. One of the only ones still talking about commodity marketing. Now, after that polite disclaimer... I might have missed it, but have you ever had anything positive to say about markets?

[Ache4Acres]

How can AGT go private now? all the Turkish $$$ is vanishing overnight

[ajl]

One by one the fiat currency dominoes will fall until the $USD is the only one left and then how much longer will that last? Big question right now is how much longer has the loonie got left until $USD denominated debt here in Canuckistan takes it out?