TRY goes better bid as US-Turkey...>

EMERGING MARKETS: TRY goes better bid as US-Turkey tensions ease

-EMFX trade has generally followed the lead of G10, with price action muted and

liquidity thin. The outlier is TRY, which outperforms for a second session on

reports that US and Turkish leaders are close to striking a deal on the purchase

of US arms in return for tariff relief on Turkish industrial exports headed to

the US. The 50-dma remains decent support and provides the first target for

bears at 5.6750.

-CNY volumes have edged higher from the off, with markets buying the dip in the

CNY as Chinese state-owned enterprises were given the greenlight to buy

tariff-free US soybeans in the coming weeks. USD/CNY trades at the lower end of

the week's range, but focus remains on the resumption of trade talks in October.

-Minutes from the Brazilian central bank are due ahead of the Hungarian central

bank decision. They're seen keeping rates unchanged at 0.90% and -0.05% for the

main bank rate and the overnight deposit rate respectively.