Free Trial

Trade tremors begin to surface.....>

EMERGING MARKETS
EMERGING MARKETS: Trade tremors begin to surface
-SGD edged lower throughout the Thursday session as tensions emanating from the
Sino-US trade spat began to bubble to the surface via August industrial
production data from Singapore. M/M production plummeted 7.5%, well below
expectations of a fall of just 0.5%, dragging the Y/Y figure lower also.
-The Philippine central bank cut rates by 25bps alongside forecast, but the move
had little effect on the currency, with PHP modestly outperforming its Asia-Pac
counterparts.
-USD/ZAR's mini uptrend continued Thursday, helping USD/ZAR print the highest
levels since early September. The currency found little support despite the
country's banking association blocking a proposed strike, with labour unrest
still expected in early October. ZAR bears eye a close above 15.00 for the pair,
which may trigger further weakness.
-The Banxico rate decision takes the focus Thursday, with most analysts seeing a
25bps rate cut to 7.75% - although there remain outside bets for both a larger
cut (50bps) and for no change at all. 

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.