May 13th, 2008

UK CPI at 3.0%, higher than expected
- core inflation up 1.2 to 1.4% also indicating not just food/energy related
CNY: buying interest in long end of the curve still intact
PHP: Spot traded to a year high of 42.755 as negative growth outlook, worse budget, and trade deficit

SGD
- failure to break 1.3640 encouraged profit taking and we broke back on the upside to 1.3700, resistance around the figure, support at 3650
1.3719 12May high, .3735 09May high, 1.3800 08May high

THB
Spot heading higher, state names trying to offer but market still wanting to buy the pair
BoT gov Watangase said they see Q1 growth at 5% and said CB ready to stem speculation

ZAR:
Retail sales tonight
Top brass in ANC stated it will support Zuma through the elections even with trial in August
Now speculation that MTN will be taken over by UAE's emirates communication corp
MPC statement should spur further speculation as SARB's past estimates have understated food and fuel
7.5490 = 23.6%; 7.4870 = 0.0%