Rosier outlook for trade keeps.....>

EMERGING MARKETS: Rosier outlook for trade keeps EMFX humming

-Further signs of conciliation between the US and China has helped underpin EMFX

early Friday, particularly Asia-Pac currencies, with CNH and KRW on the front

foot. Latest reports suggest China are to extend and expand their tariffs

exemption list for US goods, supporting further the purchase of US agricultural

products (soybeans in particular). KRW was the best performer as a result,

pressuring USD/KRW to new pullback lows at 1188.75 and bringing the 100-dma

support into view at 1185.07.

-RUB continues to outperform, taking out all three key moving averages since the

beginning of the week (50-, 100- and 200-dmas), prompting USD/RUB prints down at

64.2179. Soothed global geopolitical tensions help support, with the exit of

John Bolton from the White House earlier this week countering the weakness in

the oil price.

-Indian trade balance data, Brazilian economic activity and Colombian

manufacturing/retail sales data takes focus Friday.