Lira Leads Declines Among Emerging-Market Currencies

The video discusses Turkey's political and economic landscape, highlighting the impact of terrorist attacks and President Erdogan's power consolidation on the country's economy. The Turkish lira's sensitivity to risk and the recent GDP contraction are examined. Turkey's inward focus is noted, with a change in GDP calculation methodology revealing a higher growth rate than previously reported. The discussion shifts to oil prices, emphasizing the impact of prices below $80 per barrel on the Middle East and the significance of US rig counts on global oil dynamics.

What major political event in Turkey is linked to President Erdogan's attempt to consolidate power?

• The 2017 constitutional referendum

• The 2016 failed coup attempt

• The 2015 refugee crisis

• The 2018 general elections

What economic indicator showed a contraction in Turkey's economy during the third quarter?

• Trade balance

• Inflation rate

• GDP figures

• Unemployment rate

How did Turkey's GDP figures change after the revision by the Turkey Statistics Agency?

• From 4% to 6% growth

• From 6% to 4% growth

• From 5% to 3% growth

• From 2% to 5% growth

What is considered a critical oil price point for the Middle East that could lead to behavioral changes?

• $80 per barrel

• $90 per barrel

• $70 per barrel

• $60 per barrel

What factor is mentioned as putting additional pressure on OPEC and the Gulf?

• European oil embargo

• Decreased oil demand in Asia

• Increased US rig count

• Rising renewable energy investments