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  • 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.