USD/TWD to move towards 29 by year-end – ANZ

FXStreet Team FXStreet

Economists at ANZ bank remain positive on TWD and expect continued foreign inflows to support the currency. Therefore, they see USD/TWD trading at 29.25 by the end of the year, with a bigger move towards 29 on the cards.

Key quotes

“We have a positive view on TWD, and expect a further appreciation into the end of the year. Our end-2019 target for USD/TWD is 29.25, with a bigger move towards 29 possible.”

“Thanks to ample global liquidity which is an important push factor for portfolio flows and a strong pull factor in the form of Taiwan’s domestic economic performance, we can expect to see sustained foreign inflows into Taiwan which will be supportive of the TWD.”

“The tech heavy nature of Taiwan’s exports, which has seen increased demand to meet the needs of a global workforce that has been forced to work from home, is also another positive driver for the TWD.”

Author

FXStreet Team

FXStreet

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD inches lower during the Asian hours on Monday, trading around 1.1870 at the time of writing. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming improving momentum. RSI has cooled from prior overbought readings but stabilizes above 50, suggesting dips could stay limited before buyers reassert control.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold buyers hesitate amid holiday-thinned trading

Gold trades volatile, but within range, as US, China holidays-led thin trading exaggerates moves. The US Dollar extends range play into the US GDP week, with markets pricing at least two Fed rate cuts this year. Technically, Gold tests key support at $5,000; daily RSI still remains bullish.

Top Crypto Losers: Dogecoin, Zcash, Bonk – Meme and Privacy coins under pressure

Meme coins such as Dogecoin and Bonk, alongside the privacy coin Zcash (ZEC), are leading the broader market losses over the last 24 hours. DOGE, ZEC, and BONK ended their three consecutive days of recovery with a sudden decline on Sunday, as crucial resistance levels capped the gains. Technically, the altcoins show downside risk, starting the week under pressure.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.