USD-Asia await further global cues

Trade will be in a slightly more consolidative manner, says OCBC Treasury Research.

OCBC Treasury Research noted:

Expect USD-Asia to trade in a slightly more consolidative manner while awaiting further global cues.

Meanwhile, little cheer as yet out of Asia with Japan’s Jul manufacturing PMI deteriorating further within contraction territory, China’s leading index for Jun 12 easing for the fifth consecutive month, while Taiwan reported a disappointing -0.16% contraction for 2Q GDP.

Ahead, The RBI is expected keep monetary policy unchanged although indications for potential easing prospects cannot be ruled out.

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