Free Trial

Geopolitics & GDP Data Take Focus

TWD

Spot USD/TWD has edged higher and last operates +0.014 at TWD27.827 in muted Asia-Pac trade. Final Q2 GDP data takes focus in Taiwan today, with BBG consensus suggesting a marginal upward revision to +7.49% Y/Y from the flash reading of +7.47%.

  • The Global Times published an editorial yesterday threatening that Beijing would fly military jets over Taiwan if the island's President takes part in a democracy summit hosted by U.S. Pres Biden. Seven Chinese aircrafts entered Taiwan's ADIZ on Thursday. The Central News Agency reported yesterday that a French naval warship has anchored off Changhua Country's Fangyuan Township, but the Coast Guard Administration said they didn't find any French warship off the coast.
  • From the technical point of view, bulls look to take out the 50-DMA at TWD27.892 before taking aim at the 100-DMA at TWD28.001. Bears keep an eye on TWD27.732, which cushioned losses on Aug 5.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.