Halister News

(Bloomberg) -- Aussie and yuan advance as China reported export figures that beat estimates, adding to optimism about a recovery in the Chinese economy.

• Shipments rose 11.5% in March on year, beating a median estimate for a 10% gain; while imports fell 7.6%
  • AUD/USD rises 0.4% to 0.7714, with strong buying by Asian macro funds through option selling, according an Asia-based FX trader
  • While encouraging, “we need more evidence” to confirm that the manufacturing sector is back on track, according to Iris Pang, a Greater China economist at Natixis SA in Hong Kong
  • Onshore yuan gains 0.05%, with PBOC raising reference rate for third day
• Ringgit & rupiah among gains in Asian currencies while Singapore’s dollar weakens ahead of MAS decision tomorrow
  • Malaysia’s currency advances for a sixth day, touching 3.8465, the strongest since August, as higher oil price benefited the crude producer
  • Rupiah rises for the fifth day amid dollar weakness; Bank Indonesia’s new policy of adopting reverse repo as benchmark rate will help bring down banks’ lending rates, BNI Director Irawan said late yday
  • Yen weakens against dollar; BOJ should implement more monetary easing if risks materialize which could undermine the mechanism of price rises: Board Member Harada says in speech Wed
  • Japan’s PPI fell 3.8% from year earlier in March, biggest decline in 5 months; median estimate was for 3.5% drop
• U.S. Treasuries decline, with yield on 10-year bonds up 2bps to 1.795% in Asian trading; data today will probably show U.S. retail sales advance rose 0.1% from previous month in March, first increase in three months, according to Bloomberg survey
• New Zealand’s food prices rose 0.5% from previous month in March after 0.6% decline in February
• South Korea, Thailand markets closed