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Rosier outlook for trade keeps.....>

EMERGING MARKETS
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.

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