ASEAN Elementary OutlookUS Dollar weak point didn't translate into uniform ASEAN FX appreciationObstacles in US-China commerce ta
ASEAN Elementary Outlook
- US Dollar weak point didn’t translate into uniform ASEAN FX appreciation
- Obstacles in US-China commerce talks are a draw back danger for rising markets
- Singapore Greenback and Malaysian Ringgit eye CPI knowledge, Rupiah to a price minimize
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US Greenback and ASEAN FX Weekly Recap
It was one other disappointing week for the highly-liquid US Greenback because the DXY closed at its lowest since August. The Buck succumbed to promoting stress amid disappointing native financial knowledge as an enchancment in sentiment sapped the enchantment of haven belongings. Dismal US retail sales fueled Fed rate cut expectations as Brexit deal hopes boosted the British Pound. Mixed China GDP and industrial production handed with out fireworks.
The Greenback’s efficiency towards its ASEAN friends was not uniform. It skilled essentially the most promoting stress towards the Singapore Greenback (despite easing from the MAS) and the Philippine Peso – see desk beneath. The Malaysian Ringgit, Indonesian Rupiah and Indian Rupee struggled to capitalize on declines within the US Greenback though earlier this month, the US and China agreed to a “section one” commerce deal in ongoing talks.
For well timed updates on ASEAN and Southeast Asia currencies, ensure to comply with me…