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TRY flies as Turkey hails US.......>

EMERGING MARKETS
EMERGING MARKETS: TRY flies as Turkey hails US co-operation
-Markets rushed to price in far more favourable relations between the USA and
Turkey as the US President publicly thanked Turkey for their assistance in US
operations over the weekend that resulted in the killing of ISIS leader
al-Baghdadi. As a result, USD/TRY sank back toward last week's lows, with just
the 100-dma at 5.7202 providing support. ZAR rallied in sympathy, with added
impetus from a statement confirming the SA government will present a 'special
paper' Tuesday on the beleaguered utility Eskom.
-After weekend elections the ARS opened well, rising modestly against the USD as
the margin of victory for Peronist candidate Fernandez was far smaller than
expected, which may make Argentine Congress more balanced and market-friendly
that initially believed.
-South African money supply and unemployment rate data are the calendar
highlights Tuesday.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com