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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TRY
USD/TRY has continued to chew into its initial gains and last trades at TRY8.0720, ~8,550 pips higher on the day. Familiar technical levels remain in play, a clean breach of the TRY8.0000 figure would open up Mar 9 high of TRY7.7839.
- USD/TRY overnight ATM implied volatility surged to 39.37% (four-month high), but has moderated and now sits at 26.75%.
- Meanwhile, 1-week implied volatility has slid to worst levels in almost a month and last sits at 16.75%.
Fig. 1: USD/TRY
Source: MNI - Market News/Bloomberg
TRY/JPY has pared some of its initial losses and last trades ~1.5730 fig. lower at Y13.4918. Bulls look for a continued recovery past Mar 8 low/round figure of Y13.9845/14.0000. Conversely, bears look for a dip through Nov 10 low of Y12.5205, towards the key Nov 6 low of Y12.039.
- TRY/JPY overnight ATM implied volatility skyrocketed to levels last seen on Sep 3, 2018. It last sits at 82.21%.
- 1-week implied volatility shot higher to one-year highs, it last sits at 46.92%.
Fig. 2: TRY/JPY
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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