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TURKISH LIRA: USDTRY testing low of the day, all in smalls.
-Russia and Turkey struck a deal on an operation to secure a buffer zone in
northern Syria, including joint patrols and coordinated action with Syrian
forces to remove Kurdish fighters from the area.
-Also, Trump tweeted: "Good news seems to be happening with respect to Turkey,
Syria and the Middle East. Further reports to come later!"
**ALL EYES are of course on their Rate decision tomorrow, where the median
survey is going for 100 bps CUT. The range here goes from Unchanged to 225 bps
-There's still a fair amount of discussion among market participants, especially
given geopolitical risks likely under priced. Nonetheless, the carry might push
some shorting the TRY near term.
We are testing support around 14.7550, which should hold ahead of tomorrow.
Nonetheless, below the latter, would see extension towards 14.70 and more
importantly 14.65 area (Prices according to BGNE)