Yen, Yuan, Thailand's Baht, Indian Rupee: Asia Currency Preview

By Bob Chen

Sept. 12 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: Gross domestic product shrank a revised 3.1 percent in the second quarter from a year earlier, economists said in a Bloomberg News survey before the Cabinet Office reports the data at 8:50 a.m. in Tokyo.

Finance Minister Bunmei Ibuki, Economic and Fiscal Policy Minister Kaoru Yosano and Chief Cabinet Secretary Nobutaka Machimura will hold briefings after a cabinet meeting this morning in Tokyo. Machimura will hold a second briefing at 4 p.m.

The yen was at 106.67 a dollar at 8:39 a.m. in New York.

Chinese yuan: Industrial production in August expanded 14.5 percent from a year earlier, the slowest pace since February 2007, economists said in a Bloomberg survey before the National Bureau of Statistics reports the data at 10 a.m. local time.

The yuan was at 6.8465.

Thai baht: The central bank will report foreign-exchange reserves and holdings of forward contracts for last week at 2:30 p.m. local time. Reserves fell 0.4 percent to $101.2 billion the previous week while holdings of dollar forwards fell 1.8 percent to $15.8 billion.

The ruling People Power Party will support a bid by Samak Sundaravej for re-election as prime minister today, a spokesman said. The five other coalition members haven't decided on the candidate.

The baht was at 34.78.

Indian rupee: Factory output rose 6 percent in July from a year earlier, after increasing 5.4 percent the previous month, economists said in a Bloomberg survey before the Central Statistical Organisation reports the data at about noon.

Inflation slowed for a third week, a government report showed yesterday after trading hours. Wholesale prices rose 12.10 percent in the week ended Aug. 30 from a year earlier, the smallest advance in more than a month.

The rupee was at 45.555.

To contact the reporter on this story: Bob Chen in Hong Kong at bchen45@bloomberg.net.