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Losing Ground As Equities Weaken, Trade Figures Print Later

TWD

USD/TWD has rebounded, with spot back above 31.60, having bounced off the 20-day MA yesterday (31.514). The 1 month NDF is just under 31.58. Bulls we eye a return into the 31.70/90 zone.

  • Onshore equities are around 1.20% weaker at this stage, with the TAIEX running out of momentum above the 13900 level. Concerns around waning chip/PC demand have weighed today.
  • Coming up later is September trade data. The market expects export growth little changed from last month (2.4% y/y expected, 2.0% y/y in August). The trade surplus is forecast to improve to $4.32bn from $2.99bn prior.
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USD/TWD has rebounded, with spot back above 31.60, having bounced off the 20-day MA yesterday (31.514). The 1 month NDF is just under 31.58. Bulls we eye a return into the 31.70/90 zone.

  • Onshore equities are around 1.20% weaker at this stage, with the TAIEX running out of momentum above the 13900 level. Concerns around waning chip/PC demand have weighed today.
  • Coming up later is September trade data. The market expects export growth little changed from last month (2.4% y/y expected, 2.0% y/y in August). The trade surplus is forecast to improve to $4.32bn from $2.99bn prior.