MNI BRIEF: Fed's Barr Aims For Broad Consensus On Capital Plan

FED'S BARR: WE THINK FAIRLY SOON WE CAN ADJUST PACE OF QT

FED BARR: EXPECT BROAD, MATERIAL CHANGES TO BASEL III PROPOSAL

MNI EM China Daily Summary: Friday, March 22

MNI China Press Digest Mar 22: Autos, Local Gov, Real-Estate

MNI: PBOC Drains Net CNY11 Bln Via OMO Fri; Rates Unchanged

Bond Supply Calendar: Long BoE APF Sales on Monday

MNI: BAKER HUGHES US RIG COUNT 624; OIL RIGS 509; GAS RIGS 112

EZ/UK T-Bill Calendar: Germany, France Auction Monday

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

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/TRY Holds Its Range As the FOMC Comes Into Focus

TURKEY
  • USD/TRY trades +0.15% higher this morning, holding within its 13.29-13.66 sideways range.
  • The cross reversed early downside yesterday with broad-based risk off and softer US equities driving a safe haven bid in the greenback – squeezing EM FX across the board.
  • Power issues due to Iranian supply complications are making conditions even more difficult for Turkish industries amid surging inflation. While economic activity remains robust, more protracted outages may start to weigh on activity.
  • Today’s focus will likely be on tomorrow’s Fed, with markets anticipating forward guidance towards a +25bp hike in March.
  • The bar has been set quite high for a hawkish surprise at this meeting so anything short of that signal will likely be construed as relatively dovish.
  • The key focus will be on balance sheet communications and a potentially earlier end to tapering. Meanwhile USD/TRY remains mostly rangebound, although analysts remain bearish on TRY’s medium-term prospects.
  • Intraday Sup1: 13.3832, Sup2: 13.3113, Res1: 13.5745, Res2: 13.6614
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Markets NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Markets 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.