The recent rate hike by the Philippines central bank cannot control food inflation. Nor can it stem the currency slide.
Chinese trade data for October delivered a mixed message on Tuesday. On the one hand, the export contraction deepened to -6.4% y/y following -6.2% y/y in September and surprised expectations that it would moderate to -3.5% y/y.…
South Korean exports are the latest in a series of Asian trade data suggesting that the global trade cycle is bottoming. The 5.1% y/y increase in October marks the first return to growth since September 2022. Among South Korea…
There is a high probability that the global economy will tip into recession in the second half of 2024. A long yen position is an excellent hedge against that risk.
Singapore is a small open economy that is highly sensitive to fluctuations in global and Asian economic activity. This characteristic makes its exports a good bellwether for global growth. On this front, the upside surprise in…
According to BCA Research’s European Investment Strategy service, the Mediterranean bloc’s move from current account deficit to current account surplus nations greatly limits the risk of a new sovereign debt crisis…
Scandinavian currencies are bearing the brunt of the recent US dollar strength. The Swedish krona and Norwegian krone are the worst performing G10 currencies since the DXY’s mid-July bottom, losing 8.6% and 7.6% of their…
Taiwanese export orders sent a disappointing signal about global manufacturing conditions on Wednesday, corroborating the message from Singapore’s NODX release earlier this week. The pace of decline in export orders…
The Chinese yuan fell to its lowest in nearly 16 years vis-à-vis the US dollar on Thursday following the release of Chinese trade data. Although the pace of export contraction slowed from 14.5% to 8.8% y/y in August (and…