OCBC
Institutional, OCBC
Gold: Consolidation with cautious optimism – OCBC
Christopher Wong at OCBC sees Gold consolidating after reaching a two-week high above 4140. While rebounding oil prices and a steadier US Dollar limit gains, softer Treasury yields and Gold’s resilience amid the equity selloff suggest renewed safe-haven appeal. However, broader deleveraging remains a risk ahead of key US data. Wong remains cautiously optimistic, highlighting […]
by Currency Hedger
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- 7 days ago
Institutional, OCBC
Singapore Dollar: Rebound seen relatively capped against US Dollar – OCBC
“USD/SGD eased overnight, tracking the pullback in USD and US Treasury yields despite stronger-than-expected US GDP and still-elevated inflation. The mixed market response suggests that conviction on the next leg higher in USD remains limited, although resilient US activity and persistent price pressures may also continue to restrain USD declines.” “We retain a constructive medium-term […]
by Currency Hedger
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- 2 weeks ago
Institutional, OCBC
British Pound: Higher bar for further gains against US Dollar – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note that the British Pound (GBP) is underpinned by fiscal discipline, resilient United Kingdom (UK) growth and improved political stability, with the latest Budget preserving headroom under fiscal rules. However, markets already discount an aggressive Bank of England (BoE) tightening path into 2027, so additional GBP upside […]
by Currency Hedger
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- 2 weeks ago
Institutional, OCBC
New Zealand Dollar: Downside limited after RBNZ surprise – OCBC
OCBC strategists Sim Moh Siong Christopher Wong highlight that the New Zealand Dollar (NZD) fell after the Reserve Bank of New Zealand (RBNZ) unexpectedly held the OCR at 2.75%. Policymakers still signal tighter policy ahead, with two further hikes expected in December and 1Q27. This stance should cap further NZD downside, with 0.5600 flagged as […]
by Currency Hedger
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- 2 weeks ago
Institutional, OCBC
South Korean Won: Recovery favoured on dips – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong describe South Korean Won’s (KRW) initial strength and subsequent retracement as broader risk aversion resurfaced. The Bank of Korea’s decision to hold rates at 3% while retaining a tightening bias and calling KRW undervalued is seen as supportive. They expect further KRW recovery but prefer buying on […]
by Currency Hedger
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- 3 weeks ago
Institutional, OCBC
Philippine Peso: Bearish but constrained by Oil – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong note Philippine Peso (PHP) remains under pressure even after a larger-than-expected 50bp Bangko Sentral ng Pilipinas (BSP) hike to 5.50%, reflecting persistent inflation concerns. Higher rates may temper depreciation but are unlikely to fully offset elevated Oil prices, external imbalances and domestic growth worries. OCBC keeps a […]
by Currency Hedger
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- 3 weeks ago
Institutional, OCBC
Taiwan Dollar: Foreign outflows pressure currency – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that Taiwan Dollar (TWD) has extended losses on heavy foreign equity outflows, partly retracing into the Asian close amid talk of CBC leaning against depreciation. They stay somewhat cautious, suggesting any sustained TWD recovery will require improved underlying flows, with CBC smoothing only likely to contain […]
by Currency Hedger
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- 4 weeks ago
Institutional, OCBC
US Dollar: AI-driven vulnerabilities surface – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong discuss how AI-linked investment has become a key pillar of US growth, equities, yields and Dollar strength. They warn that US-centric AI financing concerns can flip these supports, creating a risk-off environment with lower US Treasury yields and a softer USD, highlighting the Dollar’s growing exposure to […]
by Currency Hedger
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- 4 weeks ago
OCBC
Indian Rupee: Recovery against US Dollar constrained by externals – OCBC
OCBC Bank’s Christopher Wong argues that recent RBI measures and the governor’s willingness to act further have curbed speculative activity and supported the Indian Rupee. However, stronger US Dollar, elevated Oil prices and external headwinds are seen limiting gains, with technicals pointing to moderating downside in USDINR and key support at 94.70 and 94.20 and […]
by Currency Hedger
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- 4 weeks ago
Institutional, OCBC
Singapore Dollar: MAS tightening but gains constrained – OCBC
OCBC’s Christopher Wong notes that Singapore Dollar (SGD) has held relatively steady despite a firmer US Dollar (USD) and higher Oil prices, with MAS tightening expectations underpinning the S$NEER. USD/SGD trades near recent highs with intact bullish momentum. With S$NEER already strong, further Monetary Authority of Singapore (MAS) slope steepening may not trigger significant SGD […]
by Currency Hedger
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- 1 month ago