Turkey flies for second session....>

EMERGING MARKETS: Turkey flies for second session as tensions abate

-Despite proving resilient to the recent uptick in geopolitical tensions, the

relief evident in global asset markets over the past two days has provided a

decent tailwind for the TRY, which rallied again Thursday. USD/TRY now looks to

show below the 5.85 mark for the first time since mid-December and stage a test

of the 50-dma at 5.8223. Domestic equities were up as much as 5% as capital flow

flooded back into the country, extending the TRY's world-beating currency gains

for 2020. Attention turns to next week's Turkish central bank decision, where

the bank are seen trimming rates further.

-ZAR sits at the bottom end of the EMFX pile as markets trim Thursday's

outperformance. The moves still sit well within the week's range, but offshore

selling was seen as responsible for the uptick in USD/ZAR. 50-dma provides

decent resistance at 14.5330.

-Thai consumer confidence numbers, Mexican and Indian industrial production and

Russian CPI take focus Friday.