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Policy
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Global Macro
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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessUSD/TRY Stable Ahead of US CPI, CBRT
- USD/TRY trades mostly flat at the open to stick within its lateral range, despite a firmer greenback and mixed risk sentiment out of APAC.
- US CPI is the big-ticket item on the agenda for today with base effects taking the print above the 2% target at 2.5%.
- Although the Fed has said it will look through transitory overshooting pressures, EM markets will be on guard for upside surprises that could cause volatility in US Treasuries.
- Outside of this, Turkey produces industrial production data, set to weaken slightly, and the virus situation continues to worsen – dimming the outlook for a bumper 2021 tourism season.
- Consensus seems to be building for a hold at the CBRT among the sell-side as Erdogan puts the brakes on tightening and rising CPI limits scope for cuts (MNI Preview due Wed).
- Intraday Sup1: 8.1135, Sup2: 8.0236, Res1: 8.1793, Res2: 8.2046
To read the full story
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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.