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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.
TWD
TWD is outperforming in the Asia FX space in the first part of Friday trade. The 1 month NDF is back into the 31.20/25 region, around 0.60% stronger in TWD terms. Spot is near 31.44, up 0.45% so far today.
- The main positive catalyst for TWD is the rebound in local shares. The Taiex is up +2%, led by gains in tech bellwether TSMC. The company sees a return to solid growth this quarter, with the positive outlook aiding Wall St sentiment in Thursday trade (see this BBG link).
- For TWD this may help reverse some of the sharp equity outflows we saw earlier in the week. Up to Thursday we had seen -$4.5bn in net outflows, the largest since March 2022.
- 1 month USD/TWD has fallen back sub the 100 and 200-day EMAs. Current levels are close to the 50-day, while the 20-day sits further south near 31.10. Recent highs rest close to 31.60.
Fig 1: Offshore Weekly Taiwan Net Equity Flows
Source: MNI - Market News/Bloomberg
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.
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