CANADA MAY CPI +2.9% YOY VS FORECAST +2.6%, PRIOR 2.7%

MNI: Bowman Warns Of Fed Divergence With Other Central Banks

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

MNI China Daily Summary: Tuesday, June 25

EZ/UK Bond Supply Calendar: Lithuania Synd; UK Auction Wednesday

MNI: US CONF BOARD CONSUMER CONFIDENCE 100.4 IN JUN V MAY 101.3

MNI:US APR FHFA HPI SA +0.2% V +0.0% MAR; +6.3% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

USD/TRY Holds Its Range Ahead of the CBRT; Socio-Political Pressure Mounts Over Inflation

TURKEY
  • USD/TRY trades +0.20% higher this morning, treading water around the 13.50 level.
  • The cross remained choppy within its lateral range last week, failing to break the upper threshold of the channel pattern at 13.6614-13.30.
  • Although the CBRT meeting will be eyed closely this week, its unlikely to be a majorly eventful meeting with policy likely to be left on hold as Erdogan continues to push back on rate hikes.
  • Internal socio-political pressure is building, however, with more citizens taking to the streets to protest the effects of inflation.
  • This social discontent is being reflected in the polls with more support heading toward the opposition alliance in the run-up to the 2023 elections.
  • On the international front, markets will digest US PPI, Retail sales, Industrial Production and the FOMC minutes as markets brace for tighter Fed policy in 2022.
  • Russia-Ukraine tensions also continues to contribute to weaker global risk sentiment as military drills in Belarus resume.
  • Intraday Sup1: 13.4683, Sup2: 13.4262, Res1: 13.5823, Res2: 13.6344
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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.