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Still Outperforming On Tech Equity Gains, Export Orders Data Out Later

TWD

Spot USD/TWD is down a further 0.50%, with the pair sub 31.30 in recent dealings. TWD, along with spot KRW are outperforming in the Asia FX space in the first part of Monday trade. This is line with tech optimism in the equity space, Nasdaq futures up around 0.60% so far today, slightly off session highs.

  • 1 month USD/TWD is into the 31.15/20 region. Lows for today rest at 31.13, which was marginally sub Friday lows. The pair is sub nearly all of the key EMAS, with the 20-day (around 31.10), the next potential test point. The 100-day sits back at 31.38.
  • Local equities opened around 1% higher and the Taiex is now within striking distance of early Jan highs, close to 18000.
  • Friday saw a +$2.56bn rebound in offshore equity inflows, which saw last week's outflows scaled back to just under -$1.95bn.
  • On the data front later today we have Dec export orders, which are projected at -1.0% y/y, versus +1.0% in Nov.
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