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Analyst CPI Wraps (A-Z) – [1/3]

SOUTH AFRICA

Manufacturing Remains Muted

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TWD

USD/TWD finished higher yesterday as TWD weakened following the announcement of wider coronavirus restrictions. The pair has seen highs of 28.085 and lows of 27.8445 this week, USD/TWD 3-month option volatility is up 19bps so far this week. USD/TWD last down 0.12 at 27.96.

  • On the coronavirus front Taiwan has extended its soft lockdown to the whole island after the number of new cases outside of the capital rose. The restrictions place limits on the number of people who can gather while the government urges companies to adopt social-distancing measures. Government will increase screening stations in hot spot areas and asks local governments to set up fast-track "green channel" for those who have symptoms. Ministers say that the current number of cases, around 1200 in the past five days, does not warrant raising social distancing to level 4 yet. Contributing to Taiwan's woes is the ongoing drought which has further affected output in the important chip sector.
  • Approximately 410,000 doses of AstraZeneca's Covid-19 vaccine, acquired through the COVAX program, have arrived in Taiwan and will be distributed after around one week of testing according to the health minister.
  • Markets look ahead to export orders and current account data later in the session, due at 0900BST/1600HKT. Export orders are expected to rise 35.4% in April after a 33.3% increase in March.

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