MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TRY: CBRT DepGov Comments Offer Lira Relief After USD/TRY Tests Record High

TRY

USD/TRY tested the record high of 33.1536 earlier today, before gains moderated following some hawkish comments by CBRT Deputy Governor Akcay. Nonetheless, further gains for the lira are needed to put the pair back into negative territory on the session, while the pair sits roughly flat on the week overall.

  • Though Akcay’s comments were broadly in-line with previous central bank comms, the decisively hawkish stance underpins the CBRT’s commitment to its tight monetary stance. The Deputy Governor said rate cuts are not even being contemplated at the moment, while warning of the risks of premature easing.
  • Particular market focus for Turkey this week has been on the central bank’s latest steps to reduce excess lira liquidity. Dunya reported yesterday that the latest measures are expected to increase deposit rates by 2-3ppts, though citing banking sources it also noted that “The current excess liquidity is not very high. There is no need for another urgent move.”
  • Looking ahead today, any potential headlines from Treasury & Finance Minister Simsek and CBRT Governor Karahan will be eyed with the pair in attendance of G-20 meetings in Brazil.
EM BulletBulletGlobalEmerging Market NewsRegion
EM BulletBulletGlobalEmerging Market NewsRegion

To read the full story

Close

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.