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CNH strikes multi-week high as.....>

EMERGING MARKETS
EMERGING MARKETS: CNH strikes multi-week high as partial deal seen possible
-Ahead of the close Friday, CNH hit the best levels since mid-September against
the USD as traders rushed to price in a higher likelihood of at least a
'partial' deal with the US that could suspend or delay the looming tariff hike
on Chinese goods headed to the US. USD/CNH bottomed out at 7.0773 ahead of the
Friday close, with the imminent meeting of Trump and the Chinese VP seen as
crucial ahead of the long weekend.
-This buoyant sentiment fed through well to EMFX more broadly, with KRW, ZAR and
others registering decent gains. Unsurprisingly, TRY was against the standout,
dropping sharply to round off a poor week as Turkish military activities in
Northern Syria leave the US poised to trigger further sanctions. USD/TRY bulls
eye initial targets at 5.9329 on any resumed move higher.
-Chinese data takes focus in the coming week, with September trade balance, CPI
& GDP numbers all due. Turkish industrial production, Brazilian economic
activity and South African retail sales round off a busy week.

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