Free Trial

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.

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.