The pace of CNY depreciation is expected to slow. Asia currencies, which have been dragged lower by the yuan's slide, could catch a breather in this respect. However, the Fed's tightening and weak exports/growth are expected to still weigh on Asian currencies.
BI is the only key scheduled event of the week (Tuesday) - they are expected to keep rates on hold, likely expressing vigilance over rising inflation and the recent decline in the IDR. In Thailand, Q2 GDP is likely to show that growth momentum remains anaemic (Monday; Barclays: 0.4%q/q; consensus: 0.2%), as domestic demand remains weak and export growth soft.
