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Coronavirus Not Expected To Weigh On Factory Output

TWD

Taiwan dollar is stronger, USD/TWD last down 0.062 at 27.878, the pair actually finished higher yesterday despite an early move lower.

  • Data yesterday showed industrial production rose 13.62% in April, below estimates of an 18% rise. The unemployment rate was essentially flat at 3.71% from 3.72% last time out, expected at 3.70%. Following the releases the government said that the coronavirus outbreak is unlikely to materially impact factory output, and expect a gain of 14.4% to 17.8% in May.
  • Coronavirus cases remain elevated with 334 cases reported on Monday, Health Minister Chen said Taiwan was considering extending the soft lockdown, after previously raising the alert to level 2 from May 19 to May 28.
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