Free Trial

USD/TRY Dials in on CPI

TURKEY
  • USD/TRY opens mostly flat ahead of key CPI data.
  • A more buoyant greenback in yesterday's session saw the cross pull back towards 7.20 after reaching a new low around 7.10.
  • Focus on CPI with an upside surprise likely to rattle TRY sentiment in the short-term as markets question the effectiveness of Agbal's hawkish push in anchoring inflation and re-igniting de-dollarisation.
  • A lower print below 14.70 would likely be TRY positive however, supporting Agbal's recent efforts and may see the cross continue to trade heavily towards 7.0699 & 7.00.
  • Res1: 7.2606, Res2: 7.3109, Sup1: 7.0699, Sup2: 7.00
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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.