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5 Jul 2016

USD/TRY seen above 3.00 in a year’s view – Danske Bank

According to analysts at Danske Bank, the Turkish Lira is expected to depreciate further within a year’s view.

Key Quotes

“We raise our TRY forecasts as Turkey’s President Erdogan apologises to Russia’s President Putin on downing Russian jet in November 2015 causing rally in TRY and Turkish stocks”.

“We see additional support for the TRY as this is the first step towards normalisation of relationships with Russia, which should support the Turkish economy in the long term”.

“We are also more positive on TRY than before the UK referendum due to markets’ increased expectations on a dovish Fed after the Brexit vote: 2.95 in 1M (previously 2.98), 2.98 in 3M (previously 3.03), 3.03 in 6M (previously 3.05) and 12Mat 3.05 (previously 3.12)”.

Jul 5, 2016

G10 and EM: Volatility sharply up following Brexit – Deutsche Bank

Research Team at Deutsche Bank, suggests that the trendiness in the G10 universe has remained at decent levels, largely driven by EUR/GBP and USD/JPY

Australia: Retail sales and trade data were softer than expected – RBC CM

Research Team at RBC Capital Markets, notes that Australia’s retail sales and trade data for May were both softer than expected. Key Quotes “The det