Forex Flash: SGD to underperform its regional peers - ANZ

FXstreet.com (Barcelona) - With USD/SGD last at 1.2432, off Tuesday's 19 fresh 7-month highs at 1.2530, “We see SGD underperforming some of its regional peers, and retain our recommendation to go long a basket consisting of KRW, PHP and CNY against SGD,” says Khoon Goh, Senior FX Strategist at ANZ.

“We expect MAS to keep the slope of the SGD NEER unchanged at 2% at its April meeting, with no change to the level or width of the band (2%),” the analyst adds.

Mar 28, 2013

Forex Flash: AUD below par later this year - RBS

“The AUD is caught somewhere between a safe haven and a high beta currency,” says Greg Gibbs, FX Trading Strategist at RBS, while AUD/USD is last at 1.0426, slightly lower for the session on Chinese share markets weakness. “Stress in Europe could weaken or strengthen the AUD, depending on how much contagion there is to global markets and commodities,” Greg adds, though “The AUD TWI shot to a new high yesterday,” he notes.

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Mar 28, 2013

Session Recap: Chinese banks drag equities lower on tightening policy fears; Kuroda stands by

Asian markets today were dominated on massive Chinese equity markets sell-off, Shanghai down -2.53%, and Hong-Kong -1.27%, while Tokyo -1.15%, and Australian ASX -0.57%, which has dragged AUD/USD lower with it. Possible tightening policy near from PBoC has sparkled fears in credit markets.

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