Published at 03:18 (GMT) 22 Oct
Channel News Asia: GIC has acquired the office component of Pacific Century Place Marunouchi in Tokyo, Singapore's sovereign wealth fund announced in a press release on Tuesday (Oct 21).
While GIC did not announce the cost, Reuters had earlier quoted sources as saying that the office tower was valued in the region of ¥170bn (S$2bn).
On FX, some focus on the above purchase by Singapore's SWF. Good to watch for any SGD/JPY downside pressure, USD/SGD demand and USD/JPY sales from Sing, Sovereign names., USD/JPY at 106.88-92, range of 106.87 to 107.12 so far in holiday thinned markets. With Singapore and Malaysia away. Offers at 107.00-10 now, bids at 106.50-60, stops below.
SGD/JPY levels at 84.08/10, resistance at 84.50/85.00 now. Down from the 17-year highs of 86.20-25 seen in Sept. As USD/JPY down from 6-year highs 110.08-09. FX rates seen favourable for Sing M+A on Japanese assets, given recent highs. SGD/JPY could dip toward 83.50 given recent pressure on USD/JPY, Cross/JPY, debate on weak JPY.
USD/SGD at 1.2709-11, range of 1.2708 to 1.2721, quiet as Sing markets closed. Offers at 1.2730-50, bids at 1.2680-90.WL
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.