MUFG highlights Singapore’s July export slowdown risk, Malaysia’s steady inflation, and Thailand’s Q2 GDP weakness as key FX drivers.
Singapore’s July non-oil domestic exports will be scrutinized after June’s 20.7% year-on-year surge, with potential moderation weighing on regional sentiment. Analysts expect Malaysia’s CPI to hold at 1.9% year-on-year, signaling contained inflation pressures.
Thailand’s Q2 GDP growth is projected to slow, reinforcing concerns over its cyclical underperformance and pressuring the Thai baht. Meanwhile, Indonesia’s central bank is likely to keep rates unchanged at 5.75% as the rupiah stabilizes, offering little FX volatility.
The data releases will shape ASEAN currency trends, with exports, inflation, and growth dynamics driving relative performance.