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Coronavirus Restrictions Could Be Eased

TWD

Taiwan dollar is weaker at the open, USD/TWD continuing its move higher after touching intraday lows around 27.68 during the Asia-Pac session yesterday, the lowest in almost a week, the rate last changing hands at 27.724.

  • Markets continue to digest reports yesterday that Taiwan Premier Su Tseng-chang is said to be considering loosening some restrictions on local industries, the CDC also said that the government will allow some recreational venues to open from October 5.
  • Data yesterday showed that industrial output beat estimates in August rising 13.7%, the July figure was revised higher. Manufacturing output rose 14.6%, electronic parts manufacturing rose 14.9%.
  • On the geopolitical front a UK warship sailed through the Taiwan Strait yesterday for the first time since 2018. It follows comments from the defence ministry that the Chinese air force has made more than 500 incursions into Taiwan's air-defense identification zone so far in 2021.
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