News
7x24
Quotes
Economics Calendar
Video
Data
- Names
- Latest
- Prev.
Columns
Trending Topics
Russia-Ukraine Conflict
The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.
The Fed
The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.
China-U.S. Relations
Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?
FastBull Spotlights
Pick the most insightful news around the world for you!
Video
Latest Update
Full Course: How to Optimize Your Strategy With Ai that Boost Your Trading Performance?
How did I optimize the supertrend strategy from TradingView and made 20x gain using Machine Learning Decision Tree?
Full Course: Beginner’s Guide to Develop a Robust Deep-Learning Ai for Stock or Crypto Trading
This is the Guide on how to Develop a Robust Deep-Learning Ai for cryptocurrency investing for beginners, explaining the use of recurrent neural networks (RNN) for price changes and a linear layer for technical indicators, and presents a code snippet for building the AI model using PyTorch.
How to customize your own indicators and get over 2x of your asset returns?
An example of a customized indicator strategy that significantly increased BTC returns during a long bullish trend is presented, want to know the backtest results and codes of the strategy?
PEPE Has Surged Over 7000% Max In 1-Month! Buy It or Sell It?
PEPEcoin gained over 7000% in 1-month and surged to over 1.6 billion dollar market cap. Is there still a chance to buy from the technical indicators?
Recent Searches
Trending Searches
View All
No data
Invite
Dollar's Demolition Job Puts Asia's Central Banks on Defense
Summary:
The dollar's relentless advance to a two-year high is roiling Asian currencies and pushing policymakers into action to curb losses.
From direct dollar selling to verbal intervention, authorities are deploying every tool from their armories to ward off currency threats. India and Taiwan have intervened in the market, while Japan has tried to talk up the yen. China tweaked policy parameters to slow the slide in the yuan and Hong Kong is likely to step in as its currency brushes near the lower end of its trading band.
“Asian central banks are becoming more concerned about weaker currencies and higher inflation,”said Mansoor Mohi-uddin, chief economist at the Bank of Singapore Ltd. He cautioned that intervention is unlikely to work while the Federal Reserve remains hawkish on interest rates.
Here is a run-down of what Asian central banks have been saying and doing about their currencies.
China
The People's Bank of China in its latest quarterly monetary report issued Monday vowed to keep the foreign-exchange market operating “normally,” saying it would guide market expectations. It also reiterated that it would maintain a “managed” floating exchange rate system for the yuan against a reference basket of currencies based on market supply and demand. The yuan dropped to 6.7411 per dollar on Tuesday, the weakest since November 2020.
“I would expect the PBOC to continue to guard against sharp moves as shown by some attempt to restrain the daily onshore fixings,” said Eugenia Victorino, head of Asia strategy at Skandinaviska Enskilda Banken AB in Singapore.
India
The Reserve Bank of India is intervening in spot and forward markets to defend the rupee, which slid to a record low on Monday, according to a person familiar with the matter. India's FX reserves of about $600 billion offers the RBI plenty of room to manage a gradual decline in the rupee, according to Radhika Rao, a senior economist at DBS Bank Ltd.
Japan
A drop in the yen to a two-decade low is causing headaches in Japan. The Bank of Japan is keeping the benchmark 10-year yield from rising above 0.25% to stoke sustainable inflation, and in doing so it's adding to downward pressure on the yen.
Any decision by the Ministry of Finance to intervene to prop up the yen would contradict the BOJ's accommodative stance.
Japan last bought yen against the dollar in 1998. Intervention remains unlikely until the currency pair reaches 145 per dollar, as long as the selloff is orderly, Bank of America strategists, including Shusuke Yamada, wrote in a research note last week.
Taiwan, Hong Kong
Taiwan's central bank said last week that it smoothed volatility in the currency market in April as it was hit by foreign selling of shares in technology companies. The Taiwan dollar has plunged about 7% so far this year.
In Hong Kong, the local dollar is only a whisker away from the weaker end of the monetary authority's trading band at 7.85 per dollar. A break of that level would spur policymakers to buy the currency to ensure the peg to the greenback remains in place.
South Korea, Indonesia
South Korea will closely monitor the market situation and key risk factors with additional alertness, and actively take measures to stabilize markets if needed, Vice Finance Minister Lee Eog-weon said Friday.
Indonesian stocks and bonds saw some of the sharpest selling in years on Monday, prompting Bank Indonesia to say it's committed to be in the market to stabilize the rupiah if needed.
Source: Bloomberg
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
- Economics Calendar
- Events
- Holiday
BANKS ACT (%) PREV (%) CPI (%)
SYMBOL
LONG SHORT
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2023 FastBull Ltd
Home News Columns 7x24 Economics Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.