澳门皇冠844网站，SINGAPORE: Light Data Calendar This Week As Focus Falls On APEC Summit In Vietnam
The USD likely to be in holding pattern with the US DollarIndex (DXY) capped below 95 as market awaits moreprogress on US tax reforms. Last Thursday, the US SenateRepublicans unveiled a tax plan that differs significantlywith the House of Representative’s tax plan. In particular,the market was concerned over the Senate Republican’sproposal to delay the corporate tax plan to 2019. That is seenhurting US growth prospects and consequently the USD. Wecan expect US tax reform discussions to intensify mid-weekafter US President Donald Trump returns to Washington onWednesday after his Asia tour.
The Singapore data docket is very light this week with just Oct FX reserves (7 Nov) and Sep retail sales (10 Nov). The mid-week COE auction (8 Nov) may draw mare attention after the Land Transport Authority announced on 23 Oct that Singapore’s vehicle growth rate will be cut to zero, from current 0.25% with effect from Feb 2018. The Singapore parliament will convene on Monday (6 Nov) while PM Lee will attend APEC Economic Leaders' meeting, Vietnam 10-11 Nov.
In Asia, earlier part of the week will be headlined by China’sOct retail sales, fixed asset investment (FAI) and industrialproduction (IP) data which will all be out on Tue. Consensusexpectation is for some pick up in retail sales growth while IPgrowth could moderate in Oct. China’s loans, money supplyand FDI data for Oct could be announced anytime fromtoday onwards.
KEY ASIAN ECONOMIES: Busy Week With 5 CB Decisions, China Data, APEC Summit & Trump In Asia Tour
The Philippines (Thur) and Malaysia (Fri) will be releasingtheir 3Q17 GDP data and Singapore’s Oct non-oil domesticexports (NODX) data will be out on Fri. Malaysia’s GDP isforecast to maintain a robust growth pace of 5.5% y/y (2Q17:5.8%). Bank Negara Malaysia (BNM) had kept an optimisticview on global growth and the domestic economy in the MPClast week, with officials projecting Malaysia’s GDP growth of5.2%-5.7% in 2017. In Indonesia, Oct trade is due on Wedand the monetary policy meeting on Thur.