Institutional
CommerzBank, Institutional
Chinese Yuan: PBoC defends yuan narrative – Commerzbank
Commerzbank’s FX team highlights that the People’s Bank of China rejected claims the yuan is undervalued, linking export strength to industrial competitiveness rather than currency manipulation. The central bank will start reporting FX operations to the IMF from 2027, while reserves slipped to USD3.40tn. In FX, USD/CNY fell 30 pips to 6.70, with USD/CNH little […]
by Currency Hedger
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- 1 month ago
Institutional, MUFG
Chinese Yuan: PBoC stance and valuation debate guide currency path – MUFG
Halpenny highlights a new PBoC document defending China’s FX policy and rejecting claims that CNY drives its trade surplus, instead pointing to manufacturing competitiveness. He notes BIS REER data showing a 20% fall from the 2022 peak and IMF estimates of 12–20% undervaluation, suggesting CNY is undervalued but only partly explains China’s export strength. China […]
by Currency Hedger
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- 1 month ago
Institutional, UOB
Singapore Dollar: Range trading persists against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD remains supported within the Monetary Authority of Singapore’s policy band, with SGD NEER likely between 1.50% and 1.80% above midpoint, implying a 1.279–1.283 range. Short-term price action shows limited upward momentum, with resistance near 1.2835 and revised strong support at 1.2775. […]
by Currency Hedger
- 0 Comments
- 1 month ago
CommerzBank, Institutional
Taiwan Dollar: Trade strength but losses capped against US Dollar – Commerzbank
Commerzbank analysts note Taiwan’s September trade surplus hit a record USD23.6bn, with exports surging 60.9% year-on-year on strong AI-related demand. The Central Bank of the Republic of China may lean more hawkish if inflation’s uptrend persists. USD/TWD rose 0.3% to 31.90, but the pair’s upside may be limited as the central bank disclosed FX intervention […]
by Currency Hedger
- 0 Comments
- 1 month ago
DBS, Institutional
China: Robust trade and rising prices – DBS
DBS Group Research expects China’s exports to grow 25.7% year-on-year in September, supported by strong electronics demand and improving manufacturing PMIs. The report notes strengthening external trade indicators and freight activity, alongside a rebound in factory-gate and raw material prices, with CPI inflation seen edging up to 1.0% but still constrained by soft domestic demand. […]
by Currency Hedger
- 0 Comments
- 1 month 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
- 0 Comments
- 1 month ago
ING, Institutional
Gold: Central banks keep buying – ING
ING’s commodities team, led by Warren Patterson and Ewa Manthey, reports that Gold edged higher on Tuesday as lower Oil prices and stronger bond markets eased inflation concerns and reduced expectations of further rate hikes. They emphasize persistent central bank demand, with World Gold Council data showing continued net buying driven by long-term reserve diversification. […]
by Currency Hedger
- 0 Comments
- 1 month ago
CommerzBank, Institutional
Euro: Fiscal concerns limit recovery against US Dollar – Commerzbank
Commerzbank’s Antje Praefcke notes that concerns over France’s national debt have recently weighed on the Euro, reviving memories of the earlier sovereign debt crisis. She argues fiscal consolidation in some Euro zone countries is both difficult and unpopular, so credibility will be hard to restore quickly. With the resilient US economy and limited new data, […]
by Currency Hedger
- 0 Comments
- 1 month ago
Institutional, UOB
British Pound: Upside capped near 1.3315 against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann report that GBP/USD broke above their prior resistance level as the British Pound (GBP) outperformed on Tuesday, invalidating an earlier mildly bearish view. For the next 24 hours they see scope for a retest of nearby resistance but doubt a sustained break higher, […]
by Currency Hedger
- 0 Comments
- 1 month ago
Institutional, MUFG
Japanese Yen: BoJ normalisation supports gains against US Dollar – MUFG
MUFG’s Michael Wan highlights that USD/JPY is still trading above 158, but Governor Ueda’s comments point to further Bank of Japan (BoJ) policy normalisation. Ueda stressed anchoring inflation around 2% and noted upside risks from imports, AI demand and JPY weakness. Wan remains constructive on the Japanese Yen, though further gains likely need faster BoJ […]
by Currency Hedger
- 0 Comments
- 1 month ago