A risk-off feel spilled over into the NY......>

FOREX: A risk-off feel spilled over into the NY session on Friday, allowing the

JPY crosses to sharply retrace their European morning gains & more. That was

before a run of risk positive headlines left traders with a more optimistic

outlook heading into the close. The most notable of which came in the form of

the WSJ noting that China & the U.S. are aiming for trade talks between Xi &

Trump in November. This will put increased focus on trade talks between the 2

superpowers later this week, ahead of the scheduled imposition of a 25% U.S.

tariff on $16bn worth of imported Chinese goods. Comments from White House

Economic advisor Hassett were also noted, as he stated that "we are very close

to trade deal with Mexico."

- The WSJ headline saw the JPY operate on the back foot into the close, with the

USD feeling pressure elsewhere, allowing the DXY to go out at session lows.

- The TRY had little reaction to a one notch downgrade at both Moody's & S&P.

- Focus this week falls on the Fed's Jackson Hole Symposium, minutes from the

most recent Fed, ECB & RBA meetings, U.S.-China trade talks/tariffs & flash PMI

readings from across the globe.