TURKEY: Market Participants' Annual Inflation Expectations Dip in Latest Survey
- The CBRT have published its latest report on sectoral inflation expectations: "In May 2025, 12-month-ahead annual inflation expectations, compared to the previous month, decreased by 0.5 points to 25.1 percent for market participants, by 0.7 points to 41.0 percent for real sector, while increased by 0.6 points to 59.9 percent for households"
- See here.
Graph 1: Inflation Expectations (12-Month-Ahead, %)
Source: CBRT
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USDCAD TECHS: Southbound
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4165 50-day EMA
- RES 1: 1.3906/4029 High Apr 17 / 20-day EMA
- PRICE: 1.3814 @ 08:01 BST Apr 23
- SUP 1: 1.3781 Low Apr 21
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
A bearish theme in USDCAD remains intact for now and the pair is trading at its recent lows. Fresh cycle lows continue to highlight a resumption of the downtrend and signal scope for a continuation near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Moving average studies are in a bear -mode position, highlighting a dominant downtrend. First resistance to watch is 1.4029, the 20-day EMA.
AUDUSD TECHS: Maintains A Bullish Tone
- RES 4: 0.6550 61.8% retracement of the Sep 30 ‘24 - Apr 9 bear leg
- RES 3: 0.6528 High Nov 29 ‘24
- RES 2: 0.6471 High Dec 9 ‘24
- RES 1: 0.6439 High Apr 22
- PRICE: 0.6418 @ 07:58 BST Apr 23
- SUP 1: 0.6349/6299 Low Apr 21 / 20-day EMA
- SUP 2: 0.6181 Low Apr 11
- SUP 3: 0.6116 Low Apr 10
- SUP 4: 0.5915 Low Apr 9 and key support
AUDUSD is holding on to its recent gains and a bullish theme remains intact. The pair has breached a key resistance at 0.6409, the Dec 9 ‘24 high. This reinforces bullish conditions and signals scope for a continuation higher near-term. Sights are on 0.6471 next, the Dec 9 2024 high. Initial key support to monitor is 0.6299, the 20-day EMA. A clear break of this EMA would be a concern for bulls.
GILTS: Opening calls
Gilt Opening calls, these DO NOT take the remit into account.
- Range 92.04/92.50, would give a ~92.27 mid
