Positive China trade headlines.....>

EMERGING MARKETS: Positive China trade headlines buoy sentiment

-CNH extended its recent recovery well into the Friday close as White House econ

advisor Kudlow confirmed that the main US-China negotiating teams are to meet in

October, while deputies will be meeting beforehand.

-Elsewhere, the RUB was one of the better performers in EMFX following the

Russian central bank rate decision. While the CBR trimmed rates by 25bps as

expected and foresaw further policy easing, 6.5% is now seen as the floor for

rates, prompting a minor relief rally in the currency.

-Countering its recent trend, the TRY was one of the poorest performers Friday

as a Turkish court confirmed a jail sentence for one of the country's most vocal

opposition leaders on charges including terrorist propaganda. This extends

USD/TRY's bounce from the 50-dma at 5.6660, prompting bulls to target the

100-dma at 5.7957.

-Chinese inflation, South African and Mexican manufacturing data, Hungarian

central bank and rate decisions from Poland (exp. unchanged at 1.5%) and Turkey

(exp. 275bps cut) keep markets busy in the coming week.