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CNH firms into the close as........>

EMERGING MARKETS: CNH firms into the close as US-China deal inches forward
-USD/CNH headed into the Friday close at the lowest levels of the session
following the conclusion of a call made between US Treasury Sec Mnuchin, Trade
Rep Lighthizer and China's VP Liu He. Wires reported that headway had been made
between the countries, allowing the two sides to come "close to finalizing some
sections of the agreement". USD/CNH fell back below the 7.06 mark, keeping
attention on the mid-October lows at 7.0503.
-ZAR finished the week well, with USD/ZAR dropping from 100-dma resistance and
given a helping hand by the positive US-China trade news. A number of wires also
continue to highlight data showing foreign investor interest in South African
government bonds, which show foreign traders were net buyers of SA debt for six
consecutive sessions. Next support for USD/ZAR kicks in at the 200-dma at
-Argentinean elections over the weekend will likely garner plenty of focus.
South Africa's mini-budget is also due Wednesday as well as rate decisions from
both Brazil and Colombia.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |