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Search resuls for: "Asian FX"


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☆ Instant View: China's economy slows sharply in Q4, 2022 growth one of the worst on record
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +10 min
As a result, the Chinese economic growth rate will be below the Chinese government's target of 5% plus." This could weigh on their potential economic growth in the mid-and long-term, and we really need to be paying attention to that." MARCO SUN, CHIEF FINANCIAL MARKET ANALYST, MUFG BANK (CHINA), SHANGHAI"China's Q4 and full-year 2022 GDP growth rates came in higher than expected. Economic growth will have to depend more on productivity growth, which is driven by government policies." IRIS PANG, GREATER CHINA ECONOMIST, ING, HONG KONG"The biggest surprise is the retail sales number, which is really a big beat...
☆ Asian FX bulls return as easing China COVID curbs improves outlook - Reuters poll
  + stars: | 2022-12-15 | by ( Upasana Singh | ) www.reuters.com   time to read: +4 min
Long positions on most other emerging Asian currencies also firmed, with those on the Malaysian ringgit and South Korean won at around two-year highs, a fortnightly poll of 10 analysts showed. Elsewhere, sentiment on China's yuan was mostly neutral, while investors turned bullish on the Philippine peso for the first time since July 2021. Long positions on the Thai baht were at their highest level since late February, while those on the Singaporean dollar were highest since early February. A turnabout of that impulse should benefit high-beta, risk-sensitive and commodity-linked FX," Barclays' analysts wrote in a note. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.
☆ Reaction to China loosening COVID restrictions
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +4 min
Here's what people are saying about the latest moves to ease China's COVID curbs;FRANK BENZIMRA, HEAD OF ASIA EQUITY STRATEGY, SOCIETE GENERALE, HONG KONG"MSCI China has rebounded nicely, valuations have risen and can very gradually normalise. "The next checkpoint will be Chinese New Year; I think markets are looking for further relaxation to facilitate return to their hometowns by Chinese New Year." MITUL KOTECHA, HEAD OF EMERGING MARKETS STRATEGY, TD SECURITIES, SINGAPORE"These are significant steps, and the reality is the current policy had become very difficult to administer given how widespread COVID is in the country. SAKTIANDI SUPAAT, REGIONAL HEAD OF FX RESEARCH & STRATEGY, MAYBANK, SINGAPORE"I think markets have, in some ways, priced in that element (of further easing). I mean, it's better for China to deregulate its COVID restrictions but even if it's a booster for the Chinese economy and commodity prices, that will work negatively for a Fed pause because it tightens monetary conditions."
☆ Reaction to China relaxing COVID restrictions in major policy shift
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +6 min
REDMOND WONG, GREATER CHINA MARKET STRATEGIST, SAXO MARKETS, HONG KONG"The 10 new measures are underwhelming, given the high expectations. GARY NG, ECONOMIST, NATIXIS, HONG KONG"The latest announcements show China is determined to speed up its reopening due to economic pressure. It is likely to see upswings cyclically in business sentiment from suppressed demand, especially in sectors heavily affected by the covid restrictions. "The next checkpoint will be Chinese New Year; I think markets are looking for further relaxation to facilitate return to their hometowns by Chinese New Year." SAKTIANDI SUPAAT, REGIONAL HEAD OF FX RESEARCH & STRATEGY, MAYBANK, SINGAPORE"I think markets have, in some ways, priced in that element (of further easing).
☆ Asian FX bulls loom on signs of slowing Fed rate hikes, China reopening
  + stars: | 2022-12-01 | by ( Savyata Mishra | ) www.reuters.com   time to read: +4 min
Market participants turned bullish on the U.S. dollar-sensitive South Korean won for the first time since July 1, 2021, the poll of 12 analysts showed on Thursday. Expectations that the dollar's strength and U.S. yields had peaked saw investors return to emerging markets in November. "Given the negative burden of the Fed's tightening cycle on Asian currencies, an eventual pivot toward easing will likely deliver a rally in Asia FX," BofA analysts said in a note last week. However, Barclays analysts warn of challenges from increased fragmentation of domestic politics and the slowing economy. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.
☆ Exclusive: China FX regulator surveys banks about positioning as yuan plunges
  + stars: | 2022-10-25 | by ( ) www.reuters.com   time to read: +3 min
"The FX regulator asked (us) about our market views and our positioning," said one of the sources. Two of the sources said the State Administration of Foreign Exchange (SAFE) made it clear the survey was urgent. "Foreign exchange reserves are at a critical level, and some market participants are betting that the authorities will eventually intervene." China's foreign exchange reserves now stand at just above the closely watched $3 trillion level. "China is likely to protect the reserves this time round as the Congress emphasizes that foreign exchange reserves are an indicator of comprehensive national strength," said ANZ's Xing.
☆ EXCLUSIVE China FX regulator surveys banks about positioning as yuan plunges - sources
  + stars: | 2022-10-25 | by ( ) www.reuters.com   time to read: +3 min
"The FX regulator asked (us) about our market views and our positioning," said one of the sources. Two of the sources said the State Administration of Foreign Exchange (SAFE) made it clear the survey was urgent. "Foreign exchange reserves are at a critical level, and some market participants are betting that the authorities will eventually intervene." China's foreign exchange reserves now stand at just above the closely watched $3 trillion level. "China is likely to protect the reserves this time round as the Congress emphasizes that foreign exchange reserves are an indicator of comprehensive national strength," said ANZ's Xing.
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