HALISTER1: Better Taiwan Export Orders May Halt USD/TWD NDF Rally: Analysis

Better Taiwan Export Orders May Halt USD/TWD NDF Rally: Analysis

(Bloomberg) -- USD/TWD 1-mo. NDF could fail to breach 100-DMA resistance if Taiwan’s export orders decline less than expected in April, Bloomberg strategist Andrew Robinson writes.
  • Orders probably dropped 4.5% y/y following a 4.7% decline in March, median est. in Bloomberg survey shows
    • That would mark the 13th straight month of contraction
    • Ests. range from -9.2% to -2.4%; data due 4pm local time tomorrow
  • Export orders fell less-than-expected in March, the second month in a row that it beat est., according to data released April 20
    • USD/TWD 1-mo. NDF gained 0.3% that day to close at 32.199
  • 1-mo. NDF now at 32.784; touched 32.861 yesterday, highest level since March 11; 100-DMA is at 32.864 today
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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