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USD/TRY: Upside in store? - Commerzbank

Karen Jones, analyst at Commerzbank, explains that the USD/TRY is about to overcome the 5.8449 March high with the October 1 low and the October 23 high at 5.8692/5.9068 then being in focus.

Key Quotes

“This minor resistance area should also be exceeded with the late August low, 50% retracement and January high at 5.9822/6.0760 then being in the picture.”

“Still further up sits the October peak at 6.2282. Support is seen between the November high, mid-January high and the 200 day moving average at 5.5454/03.”

“Further support below the 55 day moving average at 5.4222 can be spotted at the 5.3044 March low and also between the November and January lows at 5.1625/5.1331.”

Gold drops to 1-1/2 week lows, risks confirming a bearish break through $1280 support area

• Risk-on mood/US-China trade optimism continues to dent safe-haven demand. • A goodish pickup in the US bond yields further adds to the prevalent se
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UK: Wage growth strength continues - ING

James Smith, developed markets economist at ING, suggests that the key takeaway from the latest UK jobs report is the continued strength in wage growt
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