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USDCAD TECHS

Watching The 50-Day EMA

AUDUSD TECHS

Bearish Focus

MONTH-END EXTENSIONS

Updated Barclays/Bbg Extension Estimates for US

US TSYS

Late Session Selling

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  • USD/TRY on a bit of a run today (-1.22%), with no real idiosyncratic drivers other than broad based risk-on into US CPI, now trading marginally below 8.50
  • Local & USD bonds also catching a bid with locals outperforming -12-14bp in 5-10Y yields. USD curve -5-7.5bp lower across the breadth
  • Big week ahead though for TRY as Erdogan meets Biden and the CBRT provides guidance on rates (hold expected)
  • Near-term support seen in USD/TRY at 8.4851 & 8.4345