Frontend KRW swap rates no longer pricing in further easing
Dec 08, 2015 03:06 am UTC| Commentary
Frontend KRW swap rates are now trading above the 3M CD rate (which serves as the floating leg fixing for KRW swaps). This marks a change from 3Q when the market was speculating on further easing by the Bank of Korea...
Commodity currencies hurt by oil, Asian currencies by disappointing data
Dec 08, 2015 02:57 am UTC| Commentary
Commodity currencies retreated on oil prices hitting a new low for the year. WTI crude oil prices slipped to $37.65/barrel yesterday, its worst level since Feb 2009. OPEC did not limit production and will keep oversupply...
Final euro area GDP numbers on the tap
Dec 08, 2015 02:48 am UTC| Commentary
The final and second reading of the 3Q GDP estimate is due today, along with the sector breakdown. The pace is likely to remain close to the advance estimates, as growth slowed to 0.3% (QoQ, sa) from 2Qs 0.4%. This...
Dollar may have eased back a bit after the ECB left QE unchanged last week
Dec 08, 2015 02:43 am UTC| Commentary
The dollar may have eased back a bit after the ECB left QE unchanged last week but its still strong and exports are still languishing. The Feds tradeweighted dollar index is up by 18% since mid-2014 and the market-based...
External balance stays healthy in Philippines
Dec 08, 2015 02:35 am UTC| Commentary Economy
Several things to note about the external balance. Goods exports are likely to plunge 6% this year, while import growth may come in around 4%. No surprise then that the trade deficit widens to USD 10bn this year. Yet, this...
Uneven but gradual recovery in store in India
Dec 08, 2015 02:34 am UTC| Commentary Economy
The narrative on the Indian economy has been positive on the back of a reform-oriented government, macro-stability and easing inflation. Beyond the headline, markets are turning to ground realities. In contrast to the...
Sluggish exports weigh on Taiwan's 4Q GDP
Dec 08, 2015 02:11 am UTC| Commentary Economy
The trade data out yesterday were far weaker than expected. Contrary to the consensus forecast of an improvement, exports fell further by -16.9% (YoY) in Nov15, a deeper decline compared to -11.0% in Oct15. On the...
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