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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.
TURKEY
- USD/TRY trades +0.04% higher this morning broadly bucking early selling pressure on the BBDXY.
- The cross rose +1.19% in yesterday's session, breaking its consolidation pattern and the key 8.52 level following stronger than expected US retail sales that sent UST yields sharply higher in the afternoon.
- 12-month expected inflation data will be monitored ahead of next week's CBRT with some international analysts alluding to the possibility of a -50bp cut as early as this meeting – against bbg and local analyst consensus currently pointing to a hold at 19.00%.
- Deputy FM Onal is in Washington for the final day of bilateral talks, and the hope is we will see some more info or a press conference emerge in today's session for info on the discussions.
- The cross is now firmly in bull mode, with yesterday's large engulfing candle enveloping the 50 & 100dmas.
- Next major levels to the topside come in at 8.6134 & 8.6815. Intraday Sup1: 8.5188, Sup2: 8.4883, Res1: 8.5875, Res2: 8.6064
Turkey 5Y CDS
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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