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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 AccessUSD/TRY Holds Its Lateral Range, Looking for Catalysts
- Local & USD rates remain unch this morning after a firmer session yesterday. USD rates outperformed in yesterday's session trading 5.3-12bp lower across the curve.
- Locals retraced early gains, but remained in the green while peers SA & Russia Slipped into the red.
- USD/TRYopens lower on a softer greenback but remains broadly pegged within its lateral range. The covid situation continues to deteriorate, with ICU occupancy rising above 70%.
- Limited local newsflow and data this week should see broad risk sentiment and USD-side moves dominate price action with the CBRT in the rear-view mirror.
- We will need to see a break in the lateral range to see a more decisive near-term direction established. Intraday Sup1: 8.0236, Sup2: 7.9826, Res1: 8.1135. Res2: 8.1793
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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.