TAIWAN: CBC Expected to Keep Rates at 2.00%
* The Central Bank in Taiwan is set to remain on hold with its benchmark rate at 2.00% today. * Gr...
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ASIA: Government Bond Issuance Today
- Hong Kong to Sell HK$13.6 Billion 184-Day Bills
- Hong Kong to Sell HK$65.74 Billion 91-Day Bills
- Bank of Thailand to Sell THB65bn of 91-Days Bills
- Bank of Thailand to Sell THB50bn of 364-Days Bills
- Bank Indonesia to Sell 92D SVBI Bills
- Bank Indonesia to Sell 186D SVBI Bills
- Bank Indonesia to Sell 32D SVBI Bills
- Bank Indonesia to Sell 273D SVBI Bills
- Bank Indonesia to Sell 365D SVBI Bills
- MAS to Sell S$15.2 Billion 28-Day Bills on Aug. 19
- MAS to Sell S$22.5 Billion 84-Day Bills on Aug. 19
- MAS to Sell S$1.8 Billion 255-Day Bills on Aug. 19
- Philippines To Sell PHP 25.0Bln 2035 Bonds (PH0000060345*)
- Indonesia To Sell 2027 Sukuk Bonds (PBS003)
- Indonesia To Sell 2039 Sukuk Bonds (PBS034)
- Indonesia To Sell 2028 Sukuk Bonds (PBS030)
- Indonesia To Sell 2041 Sukuk Bonds (PBS039)
- Indonesia To Sell 2049 Sukuk Bonds (PBS038)
- Indonesia To Sell 256D Sukuk Bills (SPNS04052026)
- Indonesia To Sell 173D Sukuk Bills (SPNS10022026)
ASIA: Coming Up in Asia Today
| South Korea Household Credit 2Q | 4:00 | 11:00 | 13:00 |
| Malaysia Exports YoY JULY | 5:00 | 12:00 | 14:00 |
| Malaysia Imports YoY JULY | 5:00 | 12:00 | 14:00 |
| Malaysia Trade Balance MYR JULY | 5:00 | 12:00 | 14:00 |
| Hong Kong Unemployment Rate SA JULY | 9:30 | 16:30 | 18:30 |
source: Bloomberg Finance LP / MNI
JPY: USD/JPY - Bounces Off 147.00 As USD Pulls Back Heading Into Jackson Hole
The overnight range was 147.12 - 147.99, Asia is currently trading around 147.85. USD/JPY continues to find solid demand around 147.00. Price continues to hold above the support area between 146.00/147.00, a sustained move below this support is needed to turn the momentum potentially lower again. While this plays out it looks to be more range trading within the wider 146.00-151.00 range. CFTC Data shows leveraged funds have bought this dip in USD/JPY betting the support remains intact.
- (Bloomberg) -- Japan’s auction of 20-year government bonds on Tuesday will be closely watched as the risk of a government spending surge weighs on investor appetite for super-long debt. The nation’s longer-maturity bonds have been in sharp focus after the ruling coalition lost its majority at last month’s upper house election.
- “As Jackson Hole steams into view, the bar for dovish rhetoric is high, lending a crucial pillar of support to the listless greenback. After a historically rough first half, the dollar has steadied and is drifting as expectations for Fed easing fluctuate. ” - BBG
- Options : Close significant option expiries for NY cut, based on DTCC data: 147.40($301m), 148.35($459m).Upcoming Close Strikes : 146.80($1.2b Aug 21), 147.90($1.42b Aug 22) - BBG.
- CFTC data shows last week asset managers maintained their JPY longs +60866( Last +60532), leveraged funds used the dip to add to their newly built short JPY position -41257(Last -29308).
Fig 1 : USD/JPY Spot 2H Chart
Source: MNI - Market News/Bloomberg Finance L.P
