TAIWAN PREVIEW: Slower Output Could Push NDF to 50-DMA: Analysis
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- USD/TWD 1-mo. NDF could rally to 50-DMA of 32.314 near term if Taiwan’s factory output fails to match ests., Bloomberg strategist Andrew Robinson writes.
Alert: HALISTER1- Output probably rose 0.5% after 1.89% gain in May, according to median est. in Bloomberg survey; ests. range from -2.8% to +2.4%; data due 4pm local time
- Imports fell a larger-than-expected 10% y/y in June, suggesting a slowdown in demand, data released on July 8 showed
- 1-mo. NDF up 0.1% at 31.983 today; NDF hasn’t traded above 50-DMA since June 28
- Slow stochastics %K line is at 34 and rising
- NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Source: BFW (Bloomberg First Word)
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UUID: 7947283