GBP/SGD: 1 - UOB GroupFX Insights Friday, 02 September 2016 5 | P a g e EUR/SGD: 1.5225 24-HOUR VIEW: 1-3 WEEKS VIEW: The 1.5171/1.5230 range was very close to our expected sideway
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FX Insights Friday, 02 September 2016 1 | P a g e
Quek Ser Leang Quek.SerLeang@uobgroup.com Lee Sue Ann Lee.SueAnn@uobgroup.com Global Economics & Markets Research
Email: GlobalEcoMktResearch@uobgroup.com URL: www.uob.com.sg/research
Friday, 02 September 2016 FX Insights
Chart Of The Day – GBP/SGD: 1.8045 Strong 1.8015 resistance is breached, room for extension above 1.8115.
The bullish phase that started last Wednesday (see Chart of the Day on 25/8/16, spot at 1.7835) sprang to life by surging
above the strong 1.8015 resistance. In our updates over the past few days, we suggested taking profit at this level in view of
the waning short-term momentum. The sudden surge has shifted the focus towards the next strong resistance which is at
1.8115 (the high in July). Based on the current momentum indicators, a move above this level would not be surprising. The next
resistance is closer to 1.8295. Strong support is at 1.7965/70 but only a breach of the current stop-loss at 1.7870 (adjusted
from 1.7750) would indicate that the current bullish phase has ended.
FX Insights Friday, 02 September 2016 2 | P a g e
OVERVIEW
Thursday was the first trading session in September, which has historically been a volatile month for equities. The major US
equity indexes closed mostly flat, whilst US Treasuries saw modest further gains following the weaker-than-expected ISM
manufacturing reading for August. In the oil market, prices again retreated on the back of concerns over a supply glut after data
previously showed a build-up in US crude stockpiles. The US dollar weakened against the major currencies, with the EUR near
1.12 and the JPY around 103.20.
Needless to say, all eyes are on tonight’s US non-farm payrolls report for August. Our team continues to expect a 250k rise in
non-farm payrolls versus consensus gain of 180k. Consensus expects the report to come in at 180k, and for the unemployment
rate to edge down to 4.8%. The July trade balance and factory orders reports will shed a bit more light on GDP growth in Q3.
Richmond Fed’s Lacker is scheduled to speak on “Interest Rate Benchmarks”. Note that the US is on holiday on Monday (Labor
Day) so it will be a shortened session.
Interest will also be on the G20 Leaders’ Summit slated for 4-5 September in the eastern Chinese city of Hangzhou. The focus
of the summit will be on sustained global growth given uncertainties from Brexit, slowing trade and terrorism. US President
Barack Obama is in Asia on 2-9 September, his 11th visit to Asia since taking office in 2009. He will be at the G20 summit and is
scheduled to meet up with Chinese President Xi Jinping. He will also be the first US president to visit Laos.
Latest Flash Note: 29 Aug 16
After The Talk, Focus Now On The Jobs http://bit.ly/2bVTQPw
FX Insights Friday, 02 September 2016 3 | P a g e
* Shift in outlook.
* Percentage difference between the closing price and the last price 1-period ago. ** Percentage difference between the closing price and the last price on 31-Dec-15.
02-Sep-16 Summary of Views
FX Pairs Spot Outlook Since/ Rate
Target Trailing-Stop Support Resistance
USD/SGD 1.3595 Bullish 25 Aug 16
1.3540 1.3750 1.3645
1.3550 1.3500
S1: 1.3550 S2: 1.3510
R1: 1.3660 R2: 1.3720
EUR/SGD 1.5225 Neutral 29 Aug 16
1.5230 - -
S1: 1.5170 S2: 1.5100
R1: 1.5260 R2: 1.5300
GBP/SGD 1.8045 Bullish 24 Aug 16
1.7835 1.8115 1.8015
1.7870 1.7750
S1: 1.7965 S2: 1.7870
R1: 1.8115 R2: 1.8295
AUD/SGD 1.0265 Neutral 18 Aug 16
1.0270 - -
S1: 1.0240 S2: 1.0220
R1: 1.0290 R2: 1.0330
JPY/SGD 1.3165 Bearish 31 Aug 16
1.3255 1.3050 1.3155
1.3260 1.3300
S1: 1.3105 S2: 1.3050
R1: 1.3200 R2: 1.3260
USD/MYR 4.0860 Bullish 01 Sep 16
4.0780 4.1050 4.0860
4.0500 S1: 4.0600 S2: 4.0500
R1: 4.1050 R2: 4.1310
USD/THB 34.60 Neutral 29 Aug 16
34.68 - -
S1: 34.55 S2: 34.51
R1: 34.66 R2: 34.71
USD/CNH 6.6860 Bullish 29 Aug 16
6.6990 6.7170
6.6750 6.6650
S1: 6.6860 S2: 6.6750
R1: 6.7025 R2: 6.7170
CNH/SGD 0.2035 Neutral 29 Aug 16
0.2032 - -
S1: 0.2030 S2: 0.2027
R1: 0.2037 R2: 0.2041
EUR/USD 1.1190 Bearish 31 Aug 16
1.1150 1.1070 1.1210
S1: 1.1160 S2: 1.1120
R1: 1.1210 R2: 1.1250
GBP/USD 1.3275 *Bullish 02 Sep 16
1.3275 1.3370 1.3130
S1: 1.3180 S2: 1.3130
R1: 1.3320 R2: 1.3370
AUD/USD 0.7550 Bearish 29 Aug 16
0.7550 0.7485
0.7600 0.7630
S1: 0.7520 S2: 0.7485
R1: 0.7580 R2: 0.7600
NZD/USD 0.7285 Bearish 29 Aug 16
0.7230 0.7170 0.7310
S1: 0.7260 S2: 0.7200
R1: 0.7310 R2: 0.7350
USD/JPY 103.20 Bullish 29 Aug 16
102.00 104.00 102.80
102.00 101.50
S1: 102.70 S2: 102.00
R1: 103.55 R2: 104.00
FX Pairs Ranges for 01-Sep-16 Performance*
Open High Low Close 1-day 1-week 1-month YTD**
USD/SGD 1.3620 1.3654 1.3585 1.3596 -0.27% +0.46% +1.43% -4.11%
EUR/SGD 1.5197 1.5230 1.5171 1.5215 +0.11% -0.28% +1.23% -1.20%
GBP/SGD 1.7897 1.8122 1.7871 1.8033 +0.77% +1.06% +0.85% -13.6%
AUD/SGD 1.0236 1.0288 1.0227 1.0263 +0.26% -0.37% +0.73% -0.47%
JPY/SGD 1.3169 1.3212 1.3103 1.3163 -0.05% -2.17% -0.79% +11.8%
USD/MYR 4.0510 4.0790 4.0510 4.0740 +0.64% +1.59% +1.09% -5.03%
USD/THB 34.60 34.67 34.55 34.59 -0.08% +0.11% -0.46% -3.99%
USD/CNH 6.6925 6.6940 6.6840 6.6865 -0.07% +0.28% +0.79% +1.80%
EUR/USD 1.1155 1.1205 1.1126 1.1196 +0.35% -0.73% -0.25% +3.02%
GBP/USD 1.3140 1.3318 1.3128 1.3269 +1.00% +0.57% -0.64% -9.91%
AUD/USD 0.7520 0.7559 0.7505 0.7552 +0.42% -0.86% -0.72% +3.66%
NZD/USD 0.7248 0.7295 0.7228 0.7284 +0.45% -0.21% +0.59% +6.73%
USD/JPY 103.41 104.00 103.03 103.23 -0.18% +2.70% +2.32% -14.2%
FX Insights Friday, 02 September 2016 4 | P a g e
USD/SGD: 1.3595
Singapore’s August manufacturing PMI, including the electronics sector PMI are scheduled for release at 9.00 pm today. The
contraction in US ISM Manufacturing sent USD/SGD to a low of 1.3586 overnight from high of 1.3654 earlier in the session. The
trade-weighted SGD NEER is trading at around 0.5% above the midpoint this morning. We expect the SGD NEER to remain
between the midpoint and 1.0% above the midpoint, implying the USD/SGD range of 1.3535 – 1.3670 based on current FX
levels.
Latest Flash Note: 23 Aug 16
Headline Deflation Persisted For Nearly 2 Years, But Core Inflation Still Holding On - http://bit.ly/2bMiLCr
24-HOUR VIEW: 1-3 WEEKS VIEW:
While the actual range of 1.3585/1.3654 yesterday was
reasonably close to our expected consolidation range of
1.3595/1.3650, the rapid drop from the peak and the weak
daily closing have increased the risk of a deeper down-move
from here. Unless USD can surmount 1.3620, the current
downward pressure could push it lower for today. That said,
1.3550 is key major support and this level is unlikely to yield
so easily. The resistance above 1.3620 is at 1.3655/60 which
is acting as a rather formidable level.
Bullish: To take partial profit at 1.3720/25.
The sharp drop from 1.3654 yesterday (which is just below
Wednesday’s high of 1.3660) has clearly dented the recent
strong upward momentum. However, confirmation of a short-
term top is only upon a break of the prevailing stop-loss at
1.3550. That said, we are still seeing very strong resistances
at 1.3745/50 and those who are long from last week should
continue to look to book partial profit at 1.3720/25. A break of
1.3550 would shift the bullish USD outlook to neutral and
suggests the start of a neutral consolidation phase.
FX Insights Friday, 02 September 2016 5 | P a g e
EUR/SGD: 1.5225
24-HOUR VIEW: 1-3 WEEKS VIEW:
The 1.5171/1.5230 range was very close to our expected
sideway trading range of 1.5170/1.5230. The outlook is still
mixed but the improved undertone could lead to a test higher
towards the 1.5260 resistance. For now, a sustained move
above this level is not expected. The support at 1.5170 is
likely strong enough to hold for today.
Neutral: In a 1.5100/1.5300 range.
While the improved short-term undertone could lead to a
probe higher in the next few days, the 2 to 3 weeks neutral
phase that started on Monday is still intact. In other words,
this pair is unlikely to go anywhere far anytime soon and we
expect trading to be confined within a 1.5100/1.5300 range
for now.
GBP/SGD: 1.8045
24-HOUR VIEW: 1-3 WEEKS VIEW:
The anticipated GBP strength exceeded our expectation by a
wide margin. The strong 1.7965/70 was easily taken out as
GBP surged to an overnight high of 1.8122. Despite the
sharp pull-back from the top, the immediate pressure is still
on the upside and a retest of 1.8120/25 would not be
surprising. Support is at 1.8000 but only a move back below
1.7965/70 (the previous resistance) would indicate that a
short-term top is in place.
Bullish: Strong 1.8015 resistance is breached, room for
extension above 1.8115. [See Chart of the Day on page 1]
*Took partial profit at 1.8015.
AUD/SGD: 1.0265
24-HOUR VIEW: 1-3 WEEKS VIEW:
The initial dip in AUD did not threaten the key support at
1.0220 (low of 1.0226). While the downward pressure has
eased with the strong rebound from the low, the current
movement is viewed as a broader sideway consolidation
instead of the start of a sustained up-move (even though the
immediate bias is for a probe higher). Expected range for
today, 1.0240/1.0290.
Neutral: In a 1.0220/1.0330 range.
The immediate downward pressure has eased with the
recent failures to break below the key 1.0220 support. While
the outlook for AUD is still deemed as neutral, this pair is
more likely to trade sideways within a 1.0220/1.0330 range
as the prospect for a deeper down-move below 1.0220 has
lessened considerably.
JPY/SGD: 1.3165
24-HOUR VIEW: 1-3 WEEKS VIEW:
In line with expectation, the initial bounce in JPY held below
1.3250 (high of 1.3212) but the subsequent drop exceeded
our expectation by taking out the 1.3150 support to touch a
low of 1.3103. The equally rapid rebound from the low
suggests that a temporary bottom is in place and a move
below 1.3100 is not expected for now. From here, allow for a
dip to 1.3135 but 1.3100 is expected to hold for a move
higher to 1.3200.
Bearish: To take partial profit at current level.
The bearish JPY phase that started on Wednesday (see
Chart of the Day on 31/8/16, spot at 1.3255) is moving at a
much faster pace than expected. Not only was the immediate
target at 1.3155 exceeded, the sharp drop yesterday tested
the major support at 1.3100/05 (low of 1.3103). While further
decline in the days ahead would not be surprising (next
support at 1.3050), the rapid drop coupled with the strong
bounce from a major 1.3100/05 support suggests that the
current down-move may not be sustained. Those who are
short may like to take partial profit at current level. That said,
the bearish phase is intact until there is a move above the
stop-loss at 1.3260 (adjusted from 1.3300).
*Took partial profit at 1.3165
FX Insights Friday, 02 September 2016 6 | P a g e
USD/MYR: 4.0860
USD/MYR is softer this morning on a weakening dollar but losses are capped amid persistent oil price weakness. On the data
front, Malaysia’s Nikkei PMI was seen falling to 47.4 in August from 48.1 in July.
Latest Flash Note: 24 Aug 16
July CPI +1.1%; Puts Inflation On The Backburner http://bit.ly/2bCPbmq
1-3 WEEKS VIEW:
Bullish: Immediate 4.0860 objective exceeded, focus on 4.1050 now.
We turned bullish USD yesterday (see Chart of the Day update) and the immediate target at 4.0860 was exceeded this
morning. The outlook is still clearly bullish and from here, the next level to focus on is at 4.1050 followed by 4.1310. Stop-loss
remains unchanged at 4.0500 for now.
USD/THB: 34.60
Thailand’s headline inflation remained benign in August, coming in at 0.29% y/y (est: 0.43%, prev: 0.10%). In terms of monetary
policy implications, we expect the BoT to keep the policy rate unchanged at 1.50% in its 14 September meeting since current
monetary conditions remain conducive to the ongoing economic recovery and further monetary policy easing would provide
limited support to the economic expansion. We also see the need to preserve policy space should the economic recovery
become affected by negative risk factors in the future.
Latest Flash Note: 26 Aug 16
July Trade Data Continues To Disappoint http://bit.ly/2c0XK8a
1-3 WEEKS VIEW:
Neutral: In a 34.51/34.71 consolidation range.
The recent short-term positive undertone has fizzled out as USD dropped sharply after touching a high of 34.67 yesterday.
While the outlook is still considered neutral, USD is more likely to consolidate within a 34.51/34.71 range instead of extending its
rebound to 34.80 as expected previously. A clear break out of the range would be a good indication of the start of a sustained
directional move.
USD/CNH: 6.6860
The PBoC set the central parity for CNY 0.19% stronger at 6.6784/USD on Thursday, leading the CNY and offshore CNH to
firm against USD. CNY ended up at 6.6750/USD on Thursday from 6.6793 on Wednesday while offshore CNH rose to
6.6858/USD from 6.6915 on Wednesday. In China, traders will remain cautious ahead of US non-farm payrolls tonight and the
G20 summit starting this weekend. Meanwhile, August PMI releases on Thursday were mixed. China’s official manufacturing
PMI surged to 50.4 from 49.9 in July, the highest since November 2014. However, the Caixin manufacturing PMI which mainly
surveyed the SMEs was lower at 50.0 from 50.6 in July. China’s official non-manufacturing PMI fell to 53.5 in August from
53.9 in July.
1-3 WEEKS VIEW:
Bullish: Decreased odds for further USD strength.
Momentum indicators are showing signs of slowing and unless USD can move clearly above the Monday’s high of 6.7025
within the next few days, the odds for further USD strength would diminish quickly. However, confirmation that the current
bullish phase has ended is only upon a breach of the stop-loss at 6.6750. Until then, another leg higher to the target at 6.7170
cannot be ruled out even though the odds for such a move have lessened.
CNH/SGD: 0.2035
1-3 WEEKS VIEW:
Neutral: In a 0.2027/0.2041 range.
CNH edged briefly above the strong 0.2039 resistance yesterday (high of 0.2041) but the up-move was quickly reversed. The
recent build-up in momentum has fizzled out and this pair is expected to trade sideways within a broad 0.2026/0.2042 range
from here.
FX Insights Friday, 02 September 2016 7 | P a g e
EUR/USD: 1.1190 EUR/USD also jumped higher on the ISM release but topped out just above 1.12. The Markit manufacturing PMI for the Euro
area was revised down 0.1pt to a final August reading of 51.7, down from 52.0 in July. The German manufacturing PMI was
confirmed at the preliminary reading of 53.6 in August, down from 52.0 in July. The French manufacturing PMI was revised
down 0.2pt to 48.3 in August, thus falling 0.3pts on the month. The Italian PMI was down 1.4pt to 49.8 whilst Spain’s PMI was
unchanged at 51.0. The Scandinavian manufacturing PMIs were all weaker in August, as often seems to be the case. Today,
we will be getting another reading on Italy’s GDP growth in Q2.
24-HOUR VIEW: 1-3 WEEKS VIEW:
The sharp spike higher in EUR was clearly unexpected but at
this stage, the up-move appears to be running ahead of
itself. However, another attempt to move towards the strong
resistance at 1.1230 would not be surprising. Support is at
1.1160 but the major support is near the recent low near
1.1120/25.
Bearish: Increasing risk of short-term low.
The stop-loss for our bearish EUR view is barely intact at
1.1210. The unexpected strong recovery yesterday has
clearly increased the risk of a short-term low. A move above
1.1210 would indicate the start of a neutral consolidation
phase, likely between 1.1120 and 1.1280. Only a clear break
below the major 1.1120 support would indicate that the next
leg lower has started.
FX Insights Friday, 02 September 2016 8 | P a g e
GBP/USD: 1.3275
The main mover was the GBP, which rose after the UK PMI posted a big upward surprise for August. Not only did this recover
its post-referendum slump, but with a 5pt increase to 53.3 it posted its best reading since October last year, suggesting that
the weak GBP may already be making a positive contribution to exports. It will be very interesting to see how the services PMI
looks when that is released coming Monday.
24-HOUR VIEW: 1-3 WEEKS VIEW:
GBP soared to touch 1.3318, the highest level in 4 weeks.
While upward momentum is very strong, the rally appears to
be over-extended and the pace of any further gains would
likely be slower and the strong 1.3370/75 resistance (high in
early August) is unlikely to come under serious threat.
Support is at 1.3230 but only a move back below 1.3180
would indicate that the immediate upward pressure has
eased.
Shift from neutral to bullish: Target 1.3370/75.
The sudden surge higher in GBP is clearly not expected.
Strong upward momentum coupled with the breach of major
resistances has shifted the outlook to bullish again. However,
July’s peak of 1.3370/75 is another major resistance and this
level may not be easy to crack. Support is at 1.3180 but only
a move below 1.3130 would indicate that our bullish
expectation is wrong.
FX Insights Friday, 02 September 2016 9 | P a g e
AUD/USD: 0.7550
AUD is holding up well, against a lower greenback. In news, Guy Debelle has been named as the RBA’s new deputy governor,
stepping into a vacancy created by the elevation of Philip Lowe to the central bank’s top job later this month.
24-HOUR VIEW: 1-3 WEEKS VIEW:
The actual trading range of 0.7505/0.7559 was close to our
expected sideway trading range of 0.7495/0.7550. While the
outlook is still mixed, the strong daily closing has improved
the undertone somewhat and from here, we could see a
move higher to test the 0.7580 resistance. At this stage, a
sustained move above this level is not expected. Support is
at 0.7520 followed closely by the recent low near 0.7490.
Bearish: To take partial profit at 0.7485.
AUD rebounded quickly after coming close to the immediate
target of 0.7485 (low of 0.7490 on Wednesday). Downward
momentum is showing signs of slowing and the prospect for
a sustained move below 0.7485 has dimmed. Those who
are short should look to book partial profit on any move to
0.7485/90. Stop-loss remains unchanged at 0.7600 for now.
FX Insights Friday, 02 September 2016 10 | P a g e
NZD/USD: 0.7285
NZD/USD looks relatively comfortable around the 0.7280 region. To recap, we learned that New Zealand’s merchandise terms
of trade fell 2.1% q/q in Q2, which largely reflected the lagged impact of earlier extreme weakness in dairy product prices.
Meanwhile merchandise export volumes rose 9.6% y/y in Q2.
24-HOUR VIEW: 1-3 WEEKS VIEW:
NZD dipped initially to a low of 0.7228 before reversing
rapidly and sharply to touch a high of 0.7295. The rally
appears to have scope to extend higher but at this stage, a
sustained break above the major 0.7310 resistance seems
unlikely. Support is at 0.7260 followed by the 0.7225/30 low.
Bearish: Increasing risk of a short-term low.
The rebound from the 0.7204 low on Tuesday has been
more resilient than expected. While the 0.7310 stop-loss is
still intact, it is getting increasingly likely that NZD is trying to
form a short-term base. Unless there is a drop below 0.7200
within these 1 to 2 days, a break above 0.7310 appears to
be a likely scenario.
FX Insights Friday, 02 September 2016 11 | P a g e
USD/JPY: 103.20
USD/JPY managed to hit the 104-mark before falling back on the US data. Earlier in the session, Japan’s final manufacturing
PMI reading for August was 49.5, up from 49.3 last month. According to reports, the BoJ may become more flexible with its
JGB buying. The central bank may adopt a range between JPY70tn and JPY90tn, and in addition, may decide to purchase
fiscal investment and loan program agency bonds or other instruments currently outside its buying scope.
Latest Flash Note: 18 Aug 16
Exports Woes Continue For The 10th Straight Month In July http://bit.ly/2brsGQl
24-HOUR VIEW: 1-3 WEEKS VIEW:
USD surged to a high of 104.00 but the up-move was short-
lived. The subsequent plunge from the high has clearly
dented the recent strong upward momentum and from here,
the immediate bias is for a probe to the downside. Only a
move back above 103.70 would indicate that the immediate
downward pressure has eased. Otherwise, a move to test
the 102.70 support would not be surprising even though a
sustained move below this level is not expected.
Bullish: 104.00 target met but diminished odds for further
USD strength.
The revised 104.00 was met yesterday but the subsequent
sharp drop has clearly dented the recent upward momentum.
While the outlook is still deemed as bullish, USD has to
punch through 104.00 soon as a prolonged consolidation
below this level would lead to a rapid loss in momentum.
Support is at 102.70 but only a break below the stop-loss at
102.00 (unchanged) would indicate that the bullish phase
has ended.
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Last updated on 18 Jul 16 * Last updated on 03 Aug 16 ** Last updated on 11 Aug 16 Quarterly Global Outlook: 3Q 2016 http://bit.ly/2aOTsDh
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UOB FX & Interest Rate Outlook
FX Outlook 3Q16 4Q16 1Q17 2Q17 Rates Outlook 3Q16 4Q16 1Q17 2Q17
EUR/USD 1.09 1.07 1.06 1.05 EU 0.00% 0.00% 0.00% 0.00%
GBP/USD 1.28 1.24 1.20 1.16 UK 0.25% 0.10% 0.10% 0.10%
AUD/USD 0.75 0.76 0.78 0.80 AU* 1.50% 1.50% 1.50% 1.50%
NZD/USD 0.72 0.73 0.75 0.75 NZ** 1.75% 1.75% 1.50% 1.50%
USD/JPY 105 106 109 110 JP -0.20% -0.20% -0.30% -0.30%
USD/SGD 1.37 1.38 1.41 1.42 SG 0.90% 1.10% 1.35% 1.50%
USD/MYR 4.15 4.15 4.10 4.08 MY 3.00% 3.00% 3.00% 3.00%
USD/THB 36.0 36.5 37.0 37.0 TH 1.50% 1.50% 1.75% 2.00%
USD/CNY 6.70 6.60 6.59 6.62 CN 4.10% 3.85% 3.85% 3.85%
USD/IDR 13,200 13,200 13,300 13,400 ID 5.00% 5.00% 5.00% 5.00%
USD/PHP 47.0 46.0 45.0 43.0 PH 3.00% 3.00% 3.25% 3.25%
USD/INR 70.0 71.1 72.2 71.1 IN 6.50% 6.50% 6.75% 6.75%
USD/TWD 32.7 32.4 32.1 31.8 TW 1.38% 1.38% 1.38% 1.38%
USD/HKD 7.80 7.80 7.80 7.80 HK 0.75% 1.00% 1.00% 1.25%
USD/KRW 1190 1200 1220 1230 KR 1.00% 1.00% 1.00% 1.00%
US 0.50% 0.75% 0.75% 1.00%
Central Bank Meetings 2016
Central Bank Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Federal Reserve (FOMC) 27 - 16 27 - 27 - 21 - 02 14
European Central Bank (ECB) 21 - 10 21 - 02 21 - 08 20 - 08
Bank of England (BOE) 14 04 17 14 12 16 14 04 15 13 03 15
Reserve Bank of Australia (RBA) - 02 01 05 03 07 05 02 06 04 01 06
Reserve Bank of New Zealand (RBNZ) 28 - 10 28 - 09 - 11 22 - 10 -
Bank of Japan (BOJ) 29 - 15 28 - 16 29 - 21 - 1
Bank Negara Malaysia (BNM) 21 - 09 - 19 - 13 - 07 - 23 -
Bank of Thailand (BOT) - 03 23 - 11 22 - 03 14 - 09 21
Monetary Authority of Singapore (MAS) - - - 14 - - - - TBA - - -
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