TRY hits the skids as Erdogan......>

EMERGING MARKETS: TRY hits the skids as Erdogan pressures CBRT

-After several sessions of outperformance, TRY reversed course Thursday as

markets eyed comments from President Erdogan putting pressure the CBRT to ease

policy to support the economy. Further selling pressure went through in the TRY

as the Turkish leader also threatened to open his country's borders with Europe

if his government no longer receive international support on the Syrian refugee

crisis.

-Elsewhere, ZAR holds much of yesterday's gains as the central bank Governor

Kganyago confirmed the CB's comfort with its forecast that the economy will grow

0.6% this year.

-CNH also outperforms on reports of an October meeting between the US and China

as trade tensions show further signs of easing. USD/CNH managed to test 7.12 on

the news ahead of the NY crossover.

-Mexican consumer confidence and Russian inflation data are on the docket,

although focus will likely remain on the broader macro picture, with key US data

due.