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2020-04-14 16:37

Technical indexUS Dollar Forecast: SGD, IDR, MYR, PHP Eye Earning
SINGAPORE DOLLAR, INDONESIAN RUPIAH, MALAYSIAN RINGGIT, PHILIPPINE PESO – TALKING POINTS US Dollar sank versus ASEAN FX as sentiment continued improving last week All eyes are on US earnings and retail sales. China GDP, Bank of Indonesia up What else is in store for USD/SGD, USD/IDR, USD/MYR and USD/PHP ahead? US DOLLAR ASEAN WEEKLY RECAP Last week’s US Dollar rout continued against ASEAN FX as it depreciated against the Singapore Dollar, Indonesian Rupiah, Malaysian Ringgit and Philippine Peso. Market sentiment continued to broadly improve which helped to slow overall capital outflows from emerging market economies. To learn more about the importance of this fundamental theme, check out last week’s ASEAN fundamental outlook. Investors’ cheery mood could be attributed to a combination of hope for further US fiscal stimulus as well as slowing coronavirus case growth around parts of the world. Once again, the markets brushed aside the ongoing onslaught of dismal economic data. An unprecedented 17 million people have applied for jobless claims in the United States since the middle of last month as local consumer sentiment dwindled. One of the best-performing ASEAN currencies was the Indonesian Rupiah. This could have been attributed to the Federal Reserve opening up a US$60 billion repo facility with the country to help ease a USD shortage. ASEAN central banks have been stepping up efforts to stem devaluations in their currencies. Foreign exchange reserves are being spent and may continue being unwound. Investors are looking on with greater scrutiny.
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US Dollar Forecast: SGD, IDR, MYR, PHP Eye Earning
United States | 2020-04-14 16:37
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