Halister News

(Bloomberg) -- Most Asian currencies advance with Malaysia ringgit, Taiwan dollar and Aussie leading gains as risk sentiment improves after BOE’s easing. Trade is sidelined ahead of U.S. non-farm payrolls, est. 180K vs prev. 287k.

• BOE’s rate cut and expansion of asset purchases are supporting Asian currencies and assets, Disawat Tiaowvanich, a foreign-exchange trader at Bangkok Bank, says
  • Market players will wait for the U.S. jobs data later today
• Australian dollar gains for second day, heads for two-week rise
  • RBA says CPI, GDP, labor market forecasts little changed from May, adding that outlook for AUD and China are key uncertainties to its growth and inflation forecasts
  • AUD/USD rises to 3-week high, absorbing 0.7650 option- related selling as traders gear for momentum stops above 0.7676 after GDP growth forecasts were little changed from May statement, according to an Asia-based FX trader
• Indonesia rupiah snaps 3-day fall after GDP beats forecasts
  • 2Q GDP increased 5.18% y/y; median estimate 5.00%
  • Indonesia may be among outperforming economies in ASEAN; new monetary policy regime will be more supportive of lending from Aug. 19 while large capital inflows anticipated under tax amnesty program should push down bond yields and boost bank lending: ANZ
• Taiwan dollar climbs for second day to reach highest in nearly one year on portfolio inflows
  • Taiwan July consumer prices rise 1.23% y/y vs est. 1.01% gain
• Philippine peso rises, and also set for weekly advance
  • July consumer prices rise 1.9% y/y vs est. 2.1%
  • BSP mindful of external developments, particularly geopolitical risks that could trigger volatility in commodity prices and portfolio rebalancing, Governor Tetangco says; adds the central bank is reviewing FX rules with view of further liberalizing to achieve greater market efficiency
• THB advances though still set for first weekly loss in 4 weeks ahead of referendum on new constitution
  • Thailand’s junta will hold a referendum Sunday on a new constitution; ban on campaigning has left many Thais in the dark as to what it is all about
  • Thai referendum may have limited impact on baht, according to Bangkok Bank; adds the Thai govt will remain in place regardless of outcome, and external factors will matter more
  • GDP may expand 3.4% in 2016 on infrastructure, Finance Minister Apisaku says
• Yuan steady ahead of key economic data over weekend and next week
  • July FX reserves due on Sunday; est. $3.2t vs $3.21t in June
  • PBOC set yuan fixing stronger at 6.6406 vs 6.6444 yday
  • China has less room for fiscal stimulus than thought, RBC says
• Yen steady, set for first back-to-back weekly gain in more than a month
  • Finance Minister Aso sees economic recovery in Japan, but risks remain
• MYR rises a second day; June trade data beats ests.
  • June exports up 3.4% y/y vs est. -3.7%; imports 8.3% vs est. -0.4%
  • HSBC says ringgit is on recovery path, though process won’t be smooth due to high foreign ownership of Malaysian bonds, decline in onshore FX mkt turnover and lingering domestic political uncertainty