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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
- TRY has been weakening this month as political divergence combined with the ‘dovish’ CBRT continue to weigh on the Lira.
- Inflation expectations have been rising; economic data showed yesterday that expected inflation for the next 12 months have increased from 28.4% to 33.3%.
- CBRT survey revealed that year-end forecast increased to 58% (from 46% previously); some sell-side analysts are forecasting that inflation could surge up to 70% by the end of 2022.
- The CBRT is meeting on May 26 and is expected to leave its benchmark rate steady at 14%.
- Ministry of Treasury & Finance holds meeting to tackle food inflation (BBG).
- USDTRY has been testing its key ST resistance at 16 after retracing higher this month.
- Next resistance to watch on the topside stands at 16.4490 (76.4% Fibo retracement of the 10.2510 – 18.3630 range).
Source: Bloomberg
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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