The usual pre-NFP lull gripped Asia-Pacific...>

FOREX: The usual pre-NFP lull gripped Asia-Pacific markets until the latter part

of the session, when BBG ran headlines noting that U.S. President Trump is said

to ask his cabinet to draft a possible China trade deal after his phone call

with President Xi, which triggered broader risk on flows.

- This came several hours after Trump noted that Chinese President Xi "wants to

make a fair trade deal," but stressed that "we have to make the right deal."

- The Yuan surged on the headlines with USD/CNH briefly trading sub CNH6.90,

last CNH6.9100.

- The Antipodeans outperformed in the G10 space, adding to their impressive

gains lodged Thursday. AUD/USD registered a high of $0.7245 on the move,

breaching the Oct 02 high at $0.7238, with bulls now looking to the 100-DMA at

$0.7221. NZD/USD last $0.6688, breaching the 100-DMA and the Sep 27 high, with

resistance noted ahead of $0.6700, followed by the Aug 30 high at $0.6717.

- USD/JPY is testing Y113.00 at writing, with a break above returning focus to

the Y114.00 region.