EMFX finds little relief after.....>

EMERGING MARKETS: EMFX finds little relief after Friday farms report

-BRL traded poorly throughout the Monday session, with USD/BRL bulls eyeing a

break above 4.20 in the near-term. Central bank policy remains the focus, with

the minutes release due tomorrow and the inflation report projections on

September 26th on the docket.

-The likes of PLN and HUF also took beating on Eurozone PMI figures, which fell

well below forecast. Clear signs of economic weakness in key trading partners

France and Germany helped keep EUR/PLN bid, which came well within range of YTD

highs at 4.3995.

-Elsewhere, CNH continues to circle Friday lows, with markets seeing little

relief despite reports suggesting the cancellation of a Chinese trade mission to

US farms was unrelated to ongoing negotiations. Focus remains on the

face-to-face talks due to resume in the second half of November.

-Tuesday's session remains central bank focused, with the Brazilian central bank

minutes and the National Bank of Hungary rate decision due. Hungary are expected

to opt for unchanged rates at 0.90%.