Funda-FX wrap: watching the bond run-off and implications for FOMC

From a fundamental perspective on Thursday, it felt like traders were gearing up for the G7 meeting and indeed the triple whammy of central banks next week, while, not least, the historic summit between Kim Jong-un & Donald Trump. In respect to the G7, it could prove to be contentiou ...

North American markets traded with a slightly cautious tone – TDS

North American markets traded with a slightly cautious tone ahead of Friday's G7 meetings, which could prove to be contentious after recent tariff announcements. Key Quotes: "USTs rallied by nearly 5bps across the belly and long-end while 2s10s narrowed by 2bps and Canadian rates saw ...

USD/TRY: TRY is bouncing off the bottom, going long TRY – TDS

Analysts at TD Securities explained that they like to take advantage of a likely short-term bullish run for the TRY.  Key Quotes: "We have entered in our model portfolio a short USD/TRY position with target of 4.28." "We set our stop at 4.64." "We aim a ...

USD/TRY drops to 5-day lows near 4.46 post-CBRT

The Turkish currency is appreciating sharply post-CBRT rate hike. Spot drops to fresh multi-day lows in the 4.46 area. The Turkish central bank (CBRT) raised the repo rate by 125 bp. The Turkish Lira remains well bid on Thursday, dragging USD/TRY to fresh 5-day lows in the 4.46 area in th ...

Turkey: Decisive rate hike – Nordea Markets

Anders Svendsen, Research Analyst at Nordea Markets, notes that the CBRT has hiked the repo rate by 125bp to 17.75% and this move further strengthens the view that the CBRT has been given some flexibility to pursue it inflation target. Key Quotes “Risks remain on the horizon, though.&rdquo ...

Turkish Central Bank hikes one-week repo rate to 17.75% from 16.5%

Following its monetary policy meeting, the Turkish Central Bank (CBRT) has announced that it hiked the one-week repo rate to 17.75% from 16.5%. In its statement, the banks reiterated that additional tightening measures could be taken if needed and added that all tools could be used in line with it ...

Turkey: CBRT to further tighten monetary policy by 100bps – TDS

Analysts at TDS expect the CBRT to further tighten monetary policy by 100bps and in particular, they expect the 1w Repo Rate to be hiked to 17.5%, O/N Lending Rate to 19% and O/N Borrowing Rate to 16%. Key Quotes “The Late Liquidity Window rate, instead, should remain unchanged at 19.50%. Th ...

Key events coming up and previews – TDS

Analysts at TD Securities offered their outlook for the key events coming up today. Key Quotes: "AUD The trade surplus for April is expected to remain healthy at +$A1.2b (mkt +$A1b) although imports at +2.4%/m likely outpaced export growth of +1.5%/m (taking guidance from Chinese trade wit ...

USD/TRY flirting with lows near 4.60

The Turkish Lira is up around 1% vs. the shared currency. Turkish CPI rose 1.62% MoM and 12.15% YoY in May. Coming up next, US Factory Orders, Durable Goods Orders. The Turkish Lira has started the week on a firm note amidst the generalized USD weakness and is dragging USD/TRY to the area o ...

Market movers for the week ahead – Rabobank

According to analysts at Rabobank, this week, trade concerns will probably continue to dominate headlines, in part owing to the G7 summit on Thursday & Friday. Key Quotes “The ensuing safe-haven flows, together with the renewed bear flattening in US rates –causin ...

USD/TRY within a narrow range around 4.5800

The Turkish Lira looks for some stabilization around 4.5800. The pair stays sidelined between 4.6350 and 4.5550 so far today. TRY appears calm following recent CBRT monetary measures. The generalized bid tone around the greenback is now lifting USD/TRY to the 4.58/4.59 band posting margina ...

USD/TRY plummets to 2-day lows near 4.56 post-CBRT

The Turkish currency appreciates nearly 3% vs. the greenback today. TRY gained ground following a new statement from the CBRT. One-Week repo rate will be set at 16.5% from June 1. The Turkish Lira is posting sharp gains vs. the greenback at the beginning of the week, dragging USD/TRY to th ...

USD/TRY bounces off lows, around 4.7200

The Turkish Lira loses some ground around 4.7200. The pair trades below recent all-time tops near 4.9300. The CBRT hiked the LLW by 300 bps on Wednesday. The Turkish currency is trading on the defensive at the end of the week and is now taking USD/TRY to the 4.7200 region after bottoming ou ...

123