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Free AccessErdogan Unlocks F-16 Deal in Sign of De-Escalation With US
- The US are offering a fleet of upgraded F-16 fighter jets to Turkey, according to Erdogan. The move would be a significant de-escalation of tensions given the Turkish order of US F-35s had been blocked throughout the Trump administration. The F-16 offer would be a form of reimbursement after Turkey made a $1.4bln downpayment on the F-35 range. US officials are yet to comment.
- Erdogan continues his three-state tour of Africa, beginning the trip in Angola before heading to Nigeria and Togo. He holds a press conference with Angolan president Lourenco later today.
- Turkish house price index data is due later today, with the previous figures coming in at +31% Y/Y, and +2.8% M/M.
- TRY continues to trade poorly, hitting a new low against the USD this morning at 9.2951. Should the pair close positive, this would mark the seventh consecutive session of gains. 9.30 marks first resistance, ahead of a 9.5366 projection level.
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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.