AIRLINK 196.38 Increased By ▲ 4.54 (2.37%)
BOP 10.11 Increased By ▲ 0.24 (2.43%)
CNERGY 7.75 Increased By ▲ 0.08 (1.04%)
FCCL 38.10 Increased By ▲ 0.24 (0.63%)
FFL 15.74 Decreased By ▼ -0.02 (-0.13%)
FLYNG 24.54 Decreased By ▼ -0.77 (-3.04%)
HUBC 130.38 Increased By ▲ 0.21 (0.16%)
HUMNL 13.73 Increased By ▲ 0.14 (1.03%)
KEL 4.60 Decreased By ▼ -0.07 (-1.5%)
KOSM 6.19 Decreased By ▼ -0.02 (-0.32%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 206.51 Decreased By ▼ -0.36 (-0.17%)
PACE 6.58 Increased By ▲ 0.02 (0.3%)
PAEL 39.77 Decreased By ▼ -0.78 (-1.92%)
PIAHCLA 17.20 Decreased By ▼ -0.39 (-2.22%)
PIBTL 7.99 Decreased By ▼ -0.08 (-0.99%)
POWER 9.20 Decreased By ▼ -0.04 (-0.43%)
PPL 178.91 Increased By ▲ 0.35 (0.2%)
PRL 38.93 Decreased By ▼ -0.15 (-0.38%)
PTC 24.31 Increased By ▲ 0.17 (0.7%)
SEARL 109.27 Increased By ▲ 1.42 (1.32%)
SILK 1.00 Increased By ▲ 0.03 (3.09%)
SSGC 37.75 Decreased By ▼ -1.36 (-3.48%)
SYM 18.83 Decreased By ▼ -0.29 (-1.52%)
TELE 8.53 Decreased By ▼ -0.07 (-0.81%)
TPLP 12.14 Decreased By ▼ -0.23 (-1.86%)
TRG 64.76 Decreased By ▼ -1.25 (-1.89%)
WAVESAPP 12.11 Decreased By ▼ -0.67 (-5.24%)
WTL 1.64 Decreased By ▼ -0.06 (-3.53%)
YOUW 3.87 Decreased By ▼ -0.08 (-2.03%)
BR100 12,000 Increased By 69.2 (0.58%)
BR30 35,548 Decreased By -112 (-0.31%)
KSE100 114,256 Increased By 1049.3 (0.93%)
KSE30 35,870 Increased By 304.3 (0.86%)

Emerging Asian currencies largely held to the sidelines on Tuesday as investors were reluctant to make any big bets ahead of US retail sales and a host of speeches from Federal Reserve officials later in the global day. Market focus is firmly on a widely-expected US Federal Reserve rate cut later this month, with traders keenly assessing data from the world's largest economy to gauge the extent to which the Fed might be willing to ease monetary policy.
"A very cautious start for risk assets this morning with trader positioning gingerly knowing that the rest of the week is potholed by Fed speakers and critical US data releases," Stephen Innes, managing partner at Vanguard Markets Pte Ltd said in a note. Fed Chairman Jerome Powell and Federal Reserve Governor Michelle Bowman will be among those making speeches later in the day.
US industrial production data is also due later, while the Fed will release its key Beige Book on US economic conditions on Wednesday, which investors will study for insight on how trade tensions are affecting the business outlook.
The Philippine peso firmed 0.1% to a near 1-1/2-year high, while South Korean won gained slightly. The Chinese yuan was 0.1% higher. Most Asian currencies had advanced in the previous session after monthly Chinese data showed signs that Beijing's stepped-up stimulus efforts might be helping to stabilize the world's second largest economy. The Indian rupee slipped 0.1% and was the top loser in the region.
Data on Monday showed that India's imports declined to their lowest level in four months in June, down 9% from a year ago, indicating weakening consumption in Asia's third largest economy. The dismal figures added to worries that India's economy may have slowed further in April-June after growth slipped to a five-year low in the first quarter. Trading in Thailand was closed on account of a regional holiday.

Copyright Reuters, 2019

Comments

Comments are closed.