Economic Calendar

Wednesday, November 19, 2008

Yen, Philippine Peso, Taiwan's Dollar: Asia Currency Preview

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By Bob Chen

Nov. 19 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today. Exchange rates are from the previous session.

Japanese yen: Chief Cabinet Secretary Takeo Kawamura will hold press briefings at 11 a.m. and 4 p.m. in Tokyo.

The Ministry of Economy, Trade and Industry will release Japan's all-industry index for September at 8:50 a.m. in Tokyo. The index probably fell 0.1 percent in September, after a 1.8 percent decline in August, economists said in a Bloomberg survey.

The yen was at 96.98 per dollar at 8:32 a.m. in Sydney.

Philippine peso: The central bank may keep the benchmark interest rate unchanged at 6 percent at its meeting tomorrow, seven of the 13 economists surveyed by Bloomberg said, with the remaining six predicting a cut.

The peso was at 49.95.

Taiwan dollar: Gross domestic product expanded 0.8 percent in the third quarter from a year earlier, the smallest increase since a contraction in the three months ended June 2003, according to the median estimate in a Bloomberg survey before the statistics bureau reports the data tomorrow.

The Taiwan dollar was at NT$33.234.

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




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