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CPI A Concern For Taiwan Central Bank

TWD

Taiwan dollar is slightly stronger in early trade, USD/TWD continues to consolidate underneath the 28.00 handle. Chinese markets are coming under pressure, any sentiment jitters could see the Taiex sell off and put downward pressure on TWD.

  • On the coronavirus front Taiwan-based Apple Daily has reported that Taipei could announce dining-in at eateries will be allowed as soon as today. There were 18 new coronavirus cases reported yesterday, down from a peak of 535 in May.
  • Minutes from the Central Bank meeting showed that CPI remains a concern among policymakers, according to the minutes one member asked what level of inflation would be needed before CBC labelled it to have overheated.
  • Markets await Q2 advance GDP data later in the session. The figure is expected at 6.65% after an 8.92% rise in Q1 thanks to a low base effect and strong demand for electronic goods.
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