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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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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
USD/TRY: Fed Neutralises HDP Scare, CBRT to Tighten Policy
- USD/TRY took a substantial round-trip in yesterday's session after moves to close the pro-Kurdish HDP raised fears of international action against human rights abuses, before the Fed eased concerns about rate hikes in the US.
- The net effect was more powerful from the dollar side, but domestic concerns remain over the HDP issue – proving Erdogan's human rights action plan to be nothing more than window dressing.
- Focus today shifts to the CBRT with a +100bp hike in the 1w repo expected amid stickier than expected inflation and higher FX passthrough from a weaker TRY.
- Continued tightening and hawkish guidance from Agbal should keep the cross heavy, but the outlook is becoming cloudier below 7.30 – and will rely largely on a normalisation in UST yields.
- Intraday Sup1: 7.4165, Sup2: 7.3224, Res1: 7.5466, Res2: 7.6196
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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.