Economic Calendar

Friday, August 1, 2008

Japan's Yen, Chinese Yuan, Rupiah, Baht: Asia Currency Preview

Share this history on :

By Aaron Pan

Aug. 1 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: Finance Minister Fukushiro Nukaga, Economic and Fiscal Policy Minister Hiroko Ota and Chief Cabinet Secretary Nobutaka Machimura will hold briefings after a cabinet meeting this morning. Machimura will address reporters again at 4 p.m. in Tokyo.

The yen was at 107.85 a dollar at 10:33 a.m. in New York.

Chinese yuan: The July Purchasing Managers' Index, a gauge of manufacturing, is due at 9 a.m. local time. The measure fell to 52 in June, the lowest since August 2005.

The yuan traded at 6.8318.

South Korean won: Consumer prices climbed 5.7 percent in July from a year earlier, the biggest increase in almost a decade, following a 5.5 percent gain the previous month, economists said in a Bloomberg News survey before the government reports the data at 1:30 p.m. local time.

Factory output rose 6.7 percent in June from a year earlier, the slowest pace in nine months, the statistics office said yesterday.

The won closed at 1,012.05.

Indonesian rupiah: Consumer prices rose 11.2 percent in July from a year ago, after an 11 percent gain the previous month, economists said in a Bloomberg survey before the government reports the data at 3 p.m. in Jakarta.

The rupiah was at 9,095.

Thai baht: Inflation quickened to 9.3 percent in July from a year earlier, economists said in a Bloomberg survey. Consumer prices gained 8.9 percent the previous month. The report is due at 11 a.m. in Bangkok.

The baht traded at 33.52.

To contact the reporter on this story: Aaron Pan in Hong Kong at apan8@bloomberg.net.


No comments: