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China FX flies on firm lending and trade......>

FOREX
FOREX: China FX flies on firm lending and trade data
-Following a subdued session Thursday, CNH is trading very well Friday as March
lending data followed much stronger trade balance numbers and firmly beat
expectations. March aggregate financing numbers in China quadrupled February's
(admittedly holiday-dampened) numbers and came in over CNY 1 trillion (~$149bln)
above expectations. This prompted USD/CNH to revert back below yesterday's lows
and helped stimulate some risk appetite via AUD, EUR, USD/JPY and EU equity
markets.
-Firmer European equity markets and a positive performance across Asia-Pac has
dented the JPY so far Friday, which sits at the bottom of the G10 pile. 
-Elsewhere, EMFX baskets have been dragged lower by TRY, with USD/TRY
approaching March highs of 5.8448 as the market's confidence in Erdogan to
re-invigorate the Turkish economy wanes further. Turkey's finmin Albayrak
appears at World Bank/IMF meetings today.
-US import/export price index and prelim Uni. of Michigan survey are the data
highlights. ECB's Praet, BoC's Lane and BoE's Carney all make appearances.

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