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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.
TURKEY
- USD/TRY trades +0.67% higher this morning, tracking early upside in the BBDXY with global risk sentiment mostly mixed.
- The lira retraced its weekly gains vs the greenback following yesterday’s CBRT statement removed forecasts for a current account surplus and noted Ukraine related risks to inflation.
- Despite the dire inflation forecast, the CBRT remains resolute in its low rates policy – leaving the one-week repo unchanged at 14.00%, as expected.
- GS analysts forecast CPI to remain sticky and above 60% for the remainder of the year, which should continued to add devaluation pressure on TRY as the rest of the world normalises policy.
- Today’s focus is on Ukraine ceasefire talks going into the weekend, with rising oil prices adding renewed pressure on the lira.
- Intraday Sup1: 14.6865, Sup2: 14.6462, Res1: 14.8366, Res2: 14.9265
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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