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Apr 17, 2014

Singapore’s weak March exports cast pall over outlook

SINGAPORE, April 17 (Reuters) – Singapore’s exports in March
fell more than expected on declines in shipments to the United
States and Europe, official data showed on Thursday, clouding
the city-state’s trade outlook.

Non-oil domestic exports slid 6.6 percent in March from a
year earlier, according to the trade agency International
Enterprise Singapore, far below a median forecast of a 0.8
percent dip in a Reuters poll.

Apr 16, 2014

Aussie off lows after China GDP; yen edges down

SINGAPORE, April 16 (Reuters) – The Australian dollar pared
losses on Wednesday after China’s first-quarter economic growth
slightly exceeded expectations and helped underpin risk
sentiment.

The safe-haven yen slipped as Tokyo shares extended gains
following vague comments from Japanese Finance Minister Taro Aso
on the country’s $1.26 trillion government pension fund, which
traders took to mean that it could step up its stock buying.

Apr 15, 2014

Dollar holds firm after upbeat U.S. retail sales data

TOKYO/SINGAPORE (Reuters) – The dollar inched higher versus a basket of major currencies on Tuesday, staying on firm footing after U.S. retail sales data the previous day signaled a brighter outlook for the U.S. economy.

U.S. retail sales recorded their largest gain in 1-1/2 years in March, the latest data to suggest growth was set to spring back in the second quarter after an unusually harsh winter.

Apr 14, 2014

Singapore keeps monetary policy tight, sees economy rebounding from weak first quarter

SINGAPORE (Reuters) – Singapore’s central bank stuck to its tight monetary policy stance on Monday despite weaker growth in the first quarter, saying core inflation will remain elevated as a sustained recovery in advanced economies spurs a rebound in the city-state.

In a widely expected decision, the Monetary Authority of Singapore (MAS) said it will maintain its policy of allowing a “modest and gradual” appreciation of the Singapore dollar, with no changes to the slope, width or centre of the policy band.

Apr 14, 2014

Singapore sticks to tight monetary policy, economy slows in Q1

SINGAPORE (Reuters) – Singapore’s central bank stuck to its tight monetary policy stance on Monday despite weaker growth in the first quarter, saying core inflation will remain elevated as the economy grows at a moderate pace this year.

In a widely expected decision, the Monetary Authority of Singapore (MAS) said it will maintain its policy of allowing a “modest and gradual” appreciation of the Singapore dollar, with no changes to the slope, width or centre of the policy band.

Apr 10, 2014

Dollar stung by Fed minutes, Aussie rises on solid jobs data

SYDNEY/SINGAPORE, April 10 (Reuters) – The dollar hit a
three-week low versus a basket of major currencies on Thursday
after minutes from the Federal Reserve’s March meeting
disappointed dollar bulls, while the Aussie dollar surged on
data showing solid Australian jobs growth.

Minutes of the Fed’s March 19 meeting released on Wednesday
showed Fed officials had worried the bank’s forecasts on
interest rates might appear to investors as mapping out a more
aggressive cycle of rate hikes.

Apr 8, 2014

Yen stays firm after BOJ stands pat; euro holds steady

SINGAPORE (Reuters) – The dollar slipped against the yen on Tuesday, struggling to gain traction after the Bank of Japan held off from additional easing as expected, with focus turning to a news conference by BOJ Governor Haruhiko Kuroda.

The dollar last fetched about 102.98 yen, down 0.1 percent on the day.

The dollar had been weak against the yen even ahead of the BOJ policy decision. The dollar briefly dipped a tad versus the yen after the BOJ kept policy unchanged, but later pared some of its losses on the day.

Apr 7, 2014

World Bank trims China, East Asia 2014 growth forecasts

SINGAPORE (Reuters) – The World Bank trimmed its 2014 growth forecast for developing East Asia but said the region’s economies were likely to see steady growth in the next couple of years, helped by a pick-up in global growth and trade.

The Washington-based development bank expects the developing East Asia and Pacific (EAP) region to grow 7.1 percent in 2014 and 2015, down from the 7.2 percent rate it had previously forecast for both years.

Apr 3, 2014

Euro slips on caution ahead of ECB; yen eases vs dollar

SYDNEY/SINGAPORE, April 3 (Reuters) – The euro inched lower
versus the dollar on Thursday, staying on the defensive as the
market turned cautious on expectations the European Central Bank
may sound dovish following its policy review later in the day.

While most analysts do not think the ECB will ease this
week, recent price data have upped the ante for the bank to do
more soon to tackle the threat of deflation.

Apr 1, 2014

Dollar unsettled by dovish Yellen, yen stays on defensive

SYDNEY/SINGAPORE, April 1 (Reuters) – The yen stayed on the
backfoot on Tuesday, while the dollar hovered near a two-week
high versus a basket of currencies after the head of the Federal
Reserve took pains to defend the central bank’s ultra-loose
monetary policy.

The dollar index was little changed at 80.120, after
hitting 80.296 on Monday. Against the yen, though, the dollar
rose 0.1 percent to 103.30 yen, holding near Monday’s
three-week high of 103.44 yen.