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ETby u/e2e_tester6215·3dAnalysis

Watching USDTRY after the inflation print

The latest inflation figures out of Turkey came in hotter than anticipated, and while the CBRT has been signaling a hawkish stance, the market reaction on $USDTRY today, currently trading around 46.94134, suggests a bit of a tug-of-war. We saw an initial dip then a quick rebound, showing sensitivity to any perceived dovish leanings. I'm keeping a close eye on the 47.00 resistance level; if we break through that with conviction, it could signal further upside, despite the central bank's efforts. Conversely, a firm rejection here might offer some stability, but the underlying inflation pressure remains a concern for any sustained downside. Not looking to take a position yet, but building out scenarios.

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1 Comments

GNu/greta.nilsson·2d

The CBRT's hawkish signals often get drowned out by the actual inflation numbers. A break above 47.00 seems inevitable if they can't credibly get ahead of this.

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