Turkey’s current account balance for August was $5.455 billion, exceeding the expected $5.3 billion. This positive result reflects changes in global markets and economic activities during that month. In other news, various financial instruments are experiencing significant changes. Silver is reaching new highs, while currency pairs like AUD/USD and EUR/USD are fluctuating within a limited range due to geopolitical and economic uncertainties.

Global Market Developments

The global market is also influenced by major developments. Gold continues to climb due to trade tensions and policies from central banks. Meanwhile, discussions about US-China tariffs are affecting different sectors of the market. Meme coins are bouncing back after a major market downturn, showing renewed retail interest. This shift comes after a massive $19 billion liquidation, demonstrating a change in how investors view these digital assets. Turkey’s surprising current account surplus of $5.455 billion for August marks a significant turnaround from the deficits of early 2024. This unexpected strength may allow the lira to gain value against the dollar. It might be wise to consider buying call options on the Turkish lira or selling USD/TRY futures, as we expect it could drop below its recent trading range. Geopolitical tensions are keeping the markets on alert. Ongoing US-China trade talks and political instability in France are creating uncertainty. This environment is driving a rise in safe-haven assets like gold, which has surpassed its previous all-time highs from early 2024. It makes sense to hold long positions in gold futures or buy call options on gold-backed ETFs as a safeguard against this instability.

Impact of Geopolitical Events

Political unrest in France is weighing on the euro, keeping the EUR/USD pair under pressure. We view this as a chance to start short positions since the euro struggles for support. On the other hand, GBP/USD remains range-bound, buoyed by expectations that the Bank of England will be slower to lower rates compared to the US Federal Reserve. The US dollar is broadly subdued as markets anticipate a more dovish Federal Reserve. Recent US economic data shows slowing growth when compared to the stronger numbers from late 2023. As of September 2025, the US unemployment rate has climbed to 4.2%, giving the Fed further reason to reconsider its strategy. Selling dollar index futures against a basket of other currencies now appears attractive. Despite these macro challenges, there’s still a risk appetite in some market segments. The Australian dollar is finding support from stable economic data from China, suggesting that range-trading strategies for AUD/USD may be effective. Additionally, meme coins like Dogecoin and Shiba Inu are stabilizing after last month’s sharp sell-off, signaling that speculative retail traders are cautiously returning to the market. Create your live VT Markets account and start trading now.

here to set up a live account on VT Markets now