Petro-currencies underpinned by....>

EMERGING MARKETS: Petro-currencies underpinned by buoyant crude

-RUB is one of the firmer currencies among EMFX so far this week, with

still-resilient crude prices helping underpin. USD/RUB bears eye the 200-dma as

the near-term target at 65.3511. Market focus turns to Russian GDP for Q2 due at

1400BST/0900ET.

-CNY was offered following Friday's move by the PBoC to cut the reserve

requirement ratio, although last week's highs of 7.1847 still seem some way away

at present. The Shanghai Composite welcomed the move, however, which rallied to

touch the best levels since early July.

-TRY carries the weakness from Thursday/Friday last week to boost USD/TRY up

toward the 100-dma at 5.7948. Any move north of here opens the early September

highs of 5.8621. Attention remains on the Turkish central bank decision on

Thursday, where the bank are seen trimming rates by 275bps.

-Mexican CPI and the aforementioned Russian GDP release are the calendar

highlights Monday.