USD/TWD: Export surge and flows support Taiwan Dollar – Commerzbank
|Commerzbank’s Charlie Lay and Moses Lim highlight that Taiwan’s January exports jumped 69.9% year-on-year, the strongest in 16 years, boosted by base effects and robust demand for advanced semiconductors used in AI. Export growth was broad-based across electronics, chemicals and base metals. USD/TWD fell 0.4% to 31.55 as exporters repatriated earnings and foreign equity inflows increased.
Record export growth supports Taiwanese Dollar
"January exports jumped more than expected by 69.9% yoy (Bloomberg consensus: 56.7%) vs 43.4% in December, the strongest recorded in 16 years."
"We should expect some payback in February and consider the January and February data together for a better read on the trend."
"The healthy project pipeline for AI-related data center development is expected to support electronic shipment growth this year."
"In FX, USD-TWD fell 0.4% to 31.55 yesterday, the first decline in four sessions. This was led by significant repatriation of earnings by exporters and increased foreign equity inflow."
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