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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.
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Free AccessUSD/TRY Remains Subdued as Greece/US Tensions Flare
- USD/TRY opens slightly higher after dipping towards the 7.00 handle in yesterday's session, but failing to break below.
- Data printed better than expected across the board this morning in terms of the 12m inflation forecast, industrial production and current account, but saw little effect on TRY which remains largely subdued.
- Tensions still rising with Greece over Cyprus and Turkey has held firm on its S-400 purchases, which will likely result in a more hardline stance from Biden, when he turns his full focus to Turkey.
- Focus shifts to next week's CBRT for new catalysts as markets look to Agbal for signs of more tightness to combat sticker than expected inflation as Erdogan pressure to cut rates looms in the background.
- Cross remains pegged in its lateral range, grinding lower. Sup1: 7.0085, Sup2: 6.8889, Res1: 7.1228, Res2: 7.1901
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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.