Market Analysis
NAS100 midweek: index holds above 28900 into ECB, 2026-07-20
NAS100 sits near 28963 midweek, up about 271 points from Monday's open, with Thursday's ECB decision and Australian jobs still to clear.
2 min readAs of Wednesday's close, USDTRY trades at 47.20455. That is up from Monday's open of 47.14931, a gain of roughly 0.12 percent on the week so far. The high this week is 47.21666, set Wednesday, and the low is 46.9933, printed Tuesday. The pair has been grinding higher in a tight range with the lira on the back foot each session.
Broad dollar strength has done most of the work. USD/JPY ran to a fresh 40-year high above 163 into Tuesday's close as yields, equities and oil all pushed up together, and that firm dollar tone has carried across to USDTRY. There was no scheduled Turkish data on this week's calendar to break the trend, so the pair has drifted up on the external bid rather than any domestic catalyst.
The European Central Bank rate decision Thursday at 12:15 GMT is the heavyweight, with the main refinancing rate forecast to stay at 2.40 percent and the press conference following at 12:45. If the ECB tone reads dovish and lifts the dollar broadly, USDTRY has room to extend its climb. A hawkish surprise that pressures the dollar could stall the move. Australian employment data lands earlier at 01:30 GMT Thursday, with 16.4K jobs expected against 40.3K prior; the read matters more for AUD/USD than the lira but sets the dollar tone into the European session.
The pair is pressing the week's high at 47.21666, just under the round 47.25 handle. If buyers clear and hold above 47.22 after the ECB, 47.25 comes into view. If price rejects there and slips back through Tuesday's low near 47.00, that round number becomes the line the week hinges on. Follow the setup and manage your own risk levels when you open an account with LHFX.
Byline: LHFX Research
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