* Asian currencies and equities mixed
* Singapore exports (NODX) contracted in July, but better than expected
* We have raised our three-month USDIDR forecast to 9700
What to watch for today
CAD: No CPI pressure on the BOC. We expect headline CPI to have been flat in July and the core yoy rate to have moderated back to 1.9%, back in line with the Bank of Canada’s Q3 forecast, after ticking up to 2.0% in June. Our estimates are softer than market consensus. With rate markets pricing in tightening risk by year-end, we think the CAD is vulnerable to soft Canadian and US data, particularly if Canadian housing market data continue to soften. We continue to forecast USDCAD recovering to 1.03 in Q4.
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