{"id":758,"date":"2023-08-08T08:31:58","date_gmt":"2023-08-08T05:31:58","guid":{"rendered":"https:\/\/invest24world.com\/?p=758"},"modified":"2023-08-08T08:33:15","modified_gmt":"2023-08-08T05:33:15","slug":"asia-fx-falls-on-weak-chinese-trade-data-dollar-strengthens","status":"publish","type":"post","link":"https:\/\/22-preview.freshtone.ru\/es\/asia-fx-falls-on-weak-chinese-trade-data-dollar-strengthens\/","title":{"rendered":"Asia FX falls on weak Chinese trade data, dollar strengthens"},"content":{"rendered":"\r\n<p>Most Asian currencies fell on Tuesday as disappointing Chinese trade figures weighed on sentiment, while the dollar advanced amid uncertainty over the Federal Reserve and anticipation of key inflation readings this week.<\/p>\r\n\r\n\r\n\r\n<p>Government data showed that both Chinese\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/imports-867\">imports<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/exports-595\">exports<\/a>\u00a0shrank at their fastest pace since the 2020 COVID-19 pandemic, pointing to continued weakness in Asia\u2019s largest economy as it struggles to stimulate growth.<\/p>\r\n\r\n\r\n\r\n<p>But the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-cny\">Chinese yuan<\/a>\u00a0strengthened 0.3%, aided largely by a stronger-than-expected daily midpoint fix from the People\u2019s Bank of China. Markets are also awaiting data on\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/cpi-743\">Chinese inflation<\/a>\u00a0on Wednesday, which is expected to have remained muted in July.<\/p>\r\n\r\n\r\n\r\n<p>Most China-exposed currencies retreated on Tuesday, given that worsening trade conditions in China bode poorly for the broader Asian economy.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">China-exposed currencies hit by weak trade data<\/h2>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-krw\">South Korean won<\/a>\u00a0shed 0.6% after the Chinese reading, while the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-twd\">Taiwan dollar<\/a>\u00a0lost 0.2%.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/aud-usd\">Australian dollar<\/a>, which is also highly sensitive to Chinese trade, sank 0.5% after the data, also coming under pressure from a private survey showing that\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/westpac-consumer-sentiment-364\">consumer sentiment<\/a>\u00a0worsened in August.<\/p>\r\n\r\n\r\n\r\n<p>Among Southeast Asian countries with large trade exposure to China, the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-myr\">Malaysian ringgit<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-sgd\">Singapore dollar<\/a>\u00a0sank 0.3% each.<\/p>\r\n\r\n\r\n\r\n<p>China is a major trading partner for most of Asia, with a demand slowdown in the country presenting future export weakness for several East and Southeast Asian countries.<\/p>\r\n\r\n\r\n\r\n<p>Among broader Asian currencies, the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-jpy\">Japanese yen<\/a>\u00a0slid 0.6%, coming under pressure from a stronger dollar, while stronger-than-expected\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/overall-wage-income-of-employees-1911\">wage growth<\/a>\u00a0data also pushed up bets that the Bank of Japan will tighten policy this year.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-inr\">Indian rupee<\/a>\u00a0was slightly higher ahead of a\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/interest-rate-decision-597\">Reserve Bank meeting<\/a>\u00a0on Thursday, where the RBI is expected to keep interest rates on hold.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Dollar strong ahead of CPI data<\/h2>\r\n\r\n\r\n\r\n<p>The dollar firmed in Asian trade, extending overnight gains as markets positioned for a potentially stronger\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/cpi-733\">consumer price index<\/a>\u00a0reading this week.<\/p>\r\n\r\n\r\n\r\n<p>Some hawkish comments from Federal Reserve officials also aided the greenback, as Fed Governor Michelle Bowman said that more rate increases will be needed to curb high\u00a0<a href=\"https:\/\/www.investing.com\/academy\/trading\/inflation-definition\/\" target=\"_blank\" rel=\"noreferrer noopener\">inflation<\/a>.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/indices\/usdollar\">dollar index<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/us-dollar-index\">dollar index futures<\/a>\u00a0rose 0.3% each, while\u00a0<a href=\"https:\/\/www.investing.com\/rates-bonds\/u.s.-10-year-bond-yield\">U.S. Treasury yields<\/a>\u00a0also pushed higher.<\/p>\r\n\r\n\r\n\r\n<p>Source: https:\/\/www.investing.com\/news\/forex-news\/asia-fx-falls-on-weak-chinese-trade-data-dollar-strengthens-3147514<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Most Asian currencies fell on Tuesday as disappointing Chinese trade figures weighed on sentiment, while the dollar advanced amid uncertainty over the Federal Reserve and anticipation of key inflation readings this week. Government data showed that both Chinese\u00a0imports\u00a0and\u00a0exports\u00a0shrank at their fastest pace since the 2020 COVID-19 pandemic, pointing to continued weakness in Asia\u2019s largest economy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"es","enabled_languages":["en","nl","es","sv","fr"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - 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