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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

TURKEY

LOCAL NEWS

  • FM Cavusoglu to meet with French counterpart in 2-day visit starting today. Bi-lateral relations with France and the EU will be discussed and views on current issues.
    • Both countries remain at odds over Syria and Libya and treatment of Frances Islamic minority
  • Greece warns Turkey is will seek EU support for sanctions against it if it continues "hostile" and "provocative threats" following Erdogan's defence of the opening of the Hagia Sophia as a mosque – deeply upsetting the Greek orthodox community
  • Erodgan says Turkey discovered 135bn cubic meters of natural gas in the Black Sea, raising the total discovery to 540bn cubic m.
    • Ankara aims to deliver gas from the Sakayara field to its main grid in 2023 with sustained plateau production by 2027/8.
    • A 160km pipeline will be required to be built in the near-term
  • Independent research group (ENAG) reports inflation at 3.94% m/m vs TUIK's 0.89%.
    • ENAG warns FX pressure, an import-heavy production process & weak CBRT reserve formation will be the biggest drivers of inflation in the upcoming period
  • CHP calls for investigative commission over Mafia boss Sedat Peker's claims against interior minister Soylu, including: organised crime, drug & weapons trafficking and evading arrest warrants
  • ECHR says on Saturday that Turkey must comply with judgements of the court, including the release of Selahattin Demirtas and Osman Kavala.
    • European Council meeting 7-9 June is set to review the Turkish Govt's failure to implement ECHR judgements
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com