Meanwhile a sharp rise in average hourly earnings reported by the BLS on Friday bolstered bets on a higher dollar on expectations the Federal Reserve will keep raising US interest rates.

NHC reported Florence continues to strengthen rapidly and is expected to become a major hurricane soon, the hurricane is expected to remain an extremely dangerous major hurricane as it is expected to hit land on Thursday.

The ECB is expected to announce the phasing out of purchases at the end of the year this week and the Turkish CB is expected to hike the one-week repo rate by 300bps to 20.75%.

See the following report here ( link ) for a deep-dive into Turkey and our views going forward.

EMs remained under pressure, with the EM currency index trading -1.18%, its 6th consecutive week without gaining although we did have a better second half of the week.

Categories: ZH