AUD, NZD Boosted By CNH Recovery -Further.....>

FOREX: AUD, NZD Boosted By CNH Recovery

-Further relief for TRY and CNH dictated play from the get-go with EU and US

traders buying both in response to reports that the US and China are to resume

trade talks. CNH recovered as much as 1.5% against the USD, but remains

uncomfortably close to the PBOC's implied tolerance threshold of 7.00.

-USD/TRY dropped for the 4th consecutive session but recovered from the worst

levels of the week as the US consider harsher sanctions while the American

Pastor continues to be held in detention. USD/TRY briefly traded below 5.70.

-NOK was the poorest performer in G10 after an uneventful unchanged rate

decision was followed by EUR/NOK ripping above the 200-dma at 9.6171 and

appearing to trip stops on the way through, touching a multi-month high in the

process.

-ZAR underperformed most others, with USD/ZAR re-approaching multi-year highs as

commodities remained volatile and as investors worry that EM contagion could

spread to SA.

-EZ, Canadian CPI as well as Uni. of Michigan August data due Friday.