Economic Calendar

Thursday, April 16, 2009

Philippine Peso, Yuan, Ringgit, Rupee: Asian Currency Preview

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By Patricia Lui

April 16 (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 media briefings at 11 a.m. and 4 p.m. in Tokyo.

The Ministry of Finance will release at 8:50 a.m. in Tokyo its report on Japanese and foreign investment flows for domestic and overseas securities during the week ended April 11.

The yen was at 99.30 a dollar as of 8:15 a.m. in Sydney.

Philippine peso: February exports may have contracted 38.5 percent from a year earlier after dropping a revised 40.6 percent in January, according to a Bloomberg News survey ahead of the preliminary data due at 9 a.m.

The central bank may trim its benchmark interest rate by 25 basis points to 4.50 percent at its monthly monetary policy meeting today, a separate survey showed.

The Philippine peso was at 47.81.

Chinese yuan: Real gross domestic product may have slowed to 6.2 percent in the first quarter from a year earlier compared with 6.8 percent in the previous three months, according to a Bloomberg survey ahead of the data at 10 a.m. local time.

The government will also release March producer prices, consumer prices, retail sales, industrial production and fixed asset investments at the same time.

The yuan was at 6.8322.

Malaysian ringgit: Manufacturing sales for February are due to be released at 12:01 p.m. local time. January manufacturing sales fell 22.7 percent in value terms from a year ago.

The ringgit was at 3.5990.

Indian rupee: The wholesale price index may have contracted 0.13 percent from a year ago in the week ended April 4, compared with growth of 0.26 percent in the previous period, a Bloomberg survey showed.

The rupee was at 49.66.

To contact the reporters on this story: Patricia Lui at plui4@bloomberg.net




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