Morning Note /
Turkey

Turkey: Persona non grata crisis averted

  • President Erdogan said he was pleased with the announcement, which helped Lira to strengthen as high as 9.55 against USD

  • CBRT will share its last inflation report of the year on Thursday, which may offer clues about its future policy actions

  • It is more about earnings in the coming days until October CPI inflation data next week

ATA Invest
26 October 2021
Published byATA Invest

The escalation about announcing 10 ambassadors "persona non grata" was avoided when the envoys made a statement referring to Article 41 of the Vienna Treaty' which basically says that it complies with international conventions barring envoys from interfering in the domestic affairs of host countries.

President Erdogan said he was pleased with the announcement, which helped Lira to strengthen as high as 9.55 against USD after topping 9.85 early Monday morning. Only equities are holding up well but other Turkish assets are still not getting any bids, as practically there is nothing changed from last Thursday's CBT decision.

CBRT will share its last inflation report of the year on Thursday' which may offer clues about its future policy actions. It is more about earnings in the coming days until October CPI inflation data next week.

Company news:

Enka TI: Enka chairman Sinan Tara bought 100K shares at TL10.73 average, bringing his purchases to 0.375% of capital.

Macro Agenda:

Oct 25: October capacity utilization (September 78.1%)

Oct 25: October real sector confidence( September 113.3)

Oct 25: September trade balance( Survey -USD2.6bn)