It expects CBC to stay on hold for the rest of 2024. CBC holding rates steady relative to the Fed would likely bode well for the Taiwan dollar, said the UOB team led by head of research Suan Teck Kin. An upturn in global electronics demand and the stabilization of China's economy would also aid a Taiwan dollar recovery.
SINGAPORE
On Monday, Enterprise Singapore will release Singapore's nonoil domestic exports for February. In January, nonoil domestic exports returned to growth in a surprising show of strength, signaling that the worst of the trade slump that has weighed on the country's economy may have passed. Nonoil domestic exports rose 16.8% in January from a year earlier, following December's 1.5% contraction.
(All references to days for Asian events are in local times.)
--Additional reporting by Megumi Fujikawa, James Glynn, Ronnie Harui, Emese Bartha, Miriam Mukuru and Dominic Chopping
Write to Jessica Fleetham at jessica.fleethma@wsj.com and Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com
(END) Dow Jones Newswires
03-17-24 1714ET
