Turkish Central Bankers Better Than The Fed

Turkey's current-account deficit may be putting the country at

. Turkish Central Bankers, knowing this fact, having been working to restrict lending in Turkey so as to reduce the current-account deficit. It appears to be working. Turkey's trade deficit increased in April, but less than anticipated, according to

. The Turkish trade deficit came in nearly $700 million less than what was expected. Contrast that with the Federal Reserve, an institution tasked with maintaing price stability and full employment. Wednesday's ADP payroll numbers are evidence that the Fed's efforts to increase employment are lacking, while the rising price of gasoline may be evidence that the Fed is failing on price stability, too. Traders looking to play Turkish economic strength might consider iShares MSCI Turkey Investable Market Index Fund

. Traders considering a short play on the U.S. dollar may wish to consider PowerShares DB US Dollar Bearish Index

.