Market News

Japan Tankan Large Manufacturing Outlook came in at 14, above forecasts (13) in 1Q

Japan Tankan Large Manufacturing Index registered at 17 above expectations (16) in 1Q

TD Securities’ Global Strategy Team reports that China’s March PMIs moved back into expansion, with Manufacturing and Non-manufacturing both beating expectations.

UOB notes that the central bank of Malaysia, Bank Negara Malaysia (BNM) is expected to keep the Overnight Policy Rate at 2.75% through early 2027.

OCBC strategists Sim Moh Siong and Christopher Wong highlight USD/IDR grinding higher toward 17,000 on firm Dollar, risk-off sentiment and Oil-related terms-of-trade pressures.

Australia S&P Global Manufacturing PMI below expectations (50.1) in March: Actual (49.8)

BNY’s Head of Markets Macro Strategy Bob Savage notes that the Bank of Korea (BoK) may consider policy easing as Middle East geopolitical shocks threaten domestic growth.

GBP/USD edged 0.32% higher on Tuesday in choppy trading, closing around 1.3230 after swinging between a session low near 1.3160 and a high close to 1.3260. The gain snapped a five-day losing streak, though the bounce lacked conviction and left price well below its key moving averages overhead.

USD/JPY fell 0.62% on Tuesday, its second consecutive decline, closing around 158.70 after an early push toward 160.00 was firmly rejected.

Silver prices rebounded, surging sharply more than 7% as Oil prices took a hit, which pushed the Greenback lower due to its close positive correlation. Also, falling US Treasury yields are driving the white metal higher, up to $75.00 by March's end.

AUD/USD rallied 0.69% on Tuesday, snapping a five-day losing streak to close around 0.6900 after bouncing sharply from a session low near 0.6830.

OCBC strategists Sim Moh Siong and Christopher Wong note USD/TWD has risen nearly 2.5% this month but remains more contained than other Asian FX such as KRW, THB and MYR.