Out of Order Volatility: Terra firma; Ipso facto.

The Turkish Economic data came out relatively well and in support with the global synchronized growth narrative.

Here are the πŸ”‘ data prints:

< strong>Gross Domestic Product (GDP) increased by 11.1% in the chain linked volume index< strong>Final consumption expenditure of resident households and consumption of NPISH increased by 11.7%< strong>Exports of goods and services increased by 17.2%, imports increased by 14.5%< strong>Compensation of employees increased by 14.4%< strong>The share of compensation of employees in gross value added was 32.7%<

hat surprised me and I supposed it shouldn’t have, was the muted if not non-existence of a reaction in the USD/TRY.

 

Screenshot 2017-12-11 11.17.04

Serendipitously though, after watching the cross exchange rate for thirty minutes after the economic data release, Bloomberg’s Alexandria Arnold updated her piece entailed, Traders Lament Death of FX Volatility as Torpor Tanks Returns.

Ms. Arnold notes πŸ“:

For FX-focused funds, the lack of price swings has stung particularly hard. The Citi Parker Global Currency Manager Index, which tracks the performance of 14 FX programs representing nine distinct investment styles, has declined almost 4 percent this year, the most since 2011.

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