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Week in FX Asia – Hot Money Booking Yen Profits

Posted by Dean Popplewell at 10:45 am EDT, 05/24/2013

This has been a tough week for anyone involved in two of the markets most crowded trades – long the Nikkei and short Yen. Dealers and investors like volatility, it provides opportunity. However, having an equity index decline -7.9% in a single session is maybe a tad too much for some individuals to stomach. Even though risk aversion promotes holding Yen, it’s the “capitulation” trade that underlies much of the USD/JPY move lower this week. Mind you, investors can also [...] read more

Filed under: Dean's FX, Asia, Week in FX, JPY, AUD, CNY, SGD

USD/SGD – Singapore GDP shrinks 0.6%, MAS silent

Posted by Mingze Wu 10:18 pm EDT, 04/11/2013

Singapore’s Ministry of Trade and Industry released advance estimates for the city state Q1 economic performance, and it isn’t pretty. Q/Q clock in a 1.4 shrinkage, versus estimate of a positive 1.7% growth. On a Y/Y basis, Singapore’s economy contracted by 0.6%. The largest hit sector was manufacturing, which declined by 1.3% Q/Q compared to previous quarter’s +3.1% growth. This is not surprising considering that manufacturing exports have fallen significantly over the last 2 quarters with no respite in sight. [...] read more

Filed under: USD, SGD

USD/SGD – Decline in Exports Driving SGD Weaker

Posted by Mingze Wu 10:22 pm EDT, 05/16/2013

Singapore’s trade agency International Enterprise released the latest April Trade data about 1 hour ago, with headline Non-Oil Domestic Exports M/M coming in at +1.1%, a sharp decline from March’s 8.0% growth. However, Y/Y continue to look weak, standing at -1.0% but nonetheless the rate of decline appears to be slower now, comparing with March’s -4.8%. In fairness, numbers appear healthy, until we realize that the nominal export figure actually dropped, with April actual amount at 14.5 billion vs March’s [...] read more

Filed under: USD, SGD

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USD/SGD – Decline in Exports Driving SGD Weaker

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