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US Dollar Forecast: Busy Week Ahead for IDR, THB, SGD and PHP as NFPs Near
2021-05-03 03:00:00
Daniel Dubrovsky,
Strategist
US Dollar, Singapore Dollar, Thai Baht, Indonesian Rupiah, Philippine Peso, Indian Rupee, ASEAN, Fundamental Analysis – Talking Points
US Dollar weakened against most ASEAN currencies except Singapore Dollar
Focus will be on Fed speak and US non-farm payrolls, ASEAN docket very busy
Indonesia GDP & CPI, Bank of Thailand, Philippine inflation and more are due
US Dollar ASEAN Weekly Recap
The anti-risk US Dollar finished on a downbeat against most ASEAN currencies this past week with the exception of the Singapore Dollar. This may have been due to more resilience in Thai, Indonesian and Philippine stock markets compared to overall Emerging Market sentiment. The MSCI Emerging Markets Index (EEM) closed -1.19%, weighed down by Chinese benchmark stock indexes. ASEAN currencies can be quite sensitive to overall risk appetite and the direction of capital fl
Gold Off to a Slow Start as Central Banks Pivot Toward Digital Currencies May 1, 2021
Some major changes could be coming soon to a central bank near you, with an estimated 90% of them at some stage of developing a central bank digital currency, or CBDC. In October 2020, the Bahamas became the first economy to introduce its own CBDC, the Sand Dollar, but many more national currencies are expected to be rolled out in the coming years.
I have much more to say on this, but first, let’s get an update on official gold purchases. Since 2010, central banks have been net buyers of the yellow metal as they seek to mitigate risk and hedge against their very own monetary decisions.
Pre-open movers
U.S. stock futures traded lower in early pre-market trade after the Dow Jones jumped over 200 points in the previous session. Investors are .