Asia-Pac FX soothed as PBoC........>

EMERGING MARKETS: Asia-Pac FX soothed as PBoC squeezes volatility

-A higher-than-expected CNY fix from the PBoC further reassured trade sensitive

currencies after the impressive rally in CNH late yesterday reverberated

throughout Asia-Pac hours. The tariff delay news helped boost the likes of KRW,

INR and TWD at the open, although selling pressure returned in the latter half

of the session.

-A retracement in commodity prices has undermined oil-tied FX, resulting in a

lower RUB, although medium-term direction is unclear as the USD/RUB pair remains

anchored by the 200-dma at 65.3534. 

-Having held the week's losses yesterday, focus for ARS shifts to a speech from

current Argentinean President Macri this morning, who is set to unveil a set of

measures to quell market volatility after the sharp depreciation in the currency

earlier this week. Low income tax exemptions, benefits boosts and fiscal support

for SMEs are expected.

-South African and Colombian retail sales and Indian trade balance data are the

calendar highlights Wednesday.