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USD/TWD has slipped and last trades -2.......>

TAIWAN
TAIWAN: USD/TWD has slipped and last trades -2 pips at TWD29.60, slightly
weighed on by broader recovery in sentiment. Earlier in the day, Taiwan's
Defence Ministry informed that Chinese fighter jets entered the Taiwanese air
defence identification zone (ADIZ) around Sunday noon. It was the seventh time
when a Chinese military aircraft entered Taiwan's ADIZ since Jun 9, with four
such forays noted last week alone.
- Over the weekend, Taiwanese Economic Affairs Ministry released export orders
data for the month of May. The figure rose 0.4% Y/Y, missing BBG consensus
forecast of +2.5%.
- Looking ahead, Taiwan's unemployment hits the wires later today, while
industrial output comes out tomorrow.
- Bears look for a fall through Jun 19 low of TWD29.54, which would expose Jun
16 low of TWD29.39, the worst level since 2018. Bulls would be pleased by a
rebound above Jun 12 high of TWD29.76, which would turn focus to Jun 8 high of
TWD29.79.

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