Asia Open - Overnight Highlights

EMERGING ASIA
EM currencies are trading mostly weaker against the greenback as USD gain strongly on Trump reimposing tariffs on the August 1st deadline. The biggest losers are PHP 0.611.27%, followed by THB 0.61%, MYR 0.59%, TWD 0.55% IDR 0.38%, KRW 0.21%, INR 0.2%, SGD 0.12% and CNY by 0.04%; while the only winner is CNH by 0.03%.
USD/CNH is trading lower at 7.2091 from 7.2113 previously closed. Onshore spot market is trading higher at 7.2000 from 7.1972. 12 month NDF followed the offshore market and is trading lower at 7.0303 from 7.0338 previously closed.
USD/IDR spot market is trading higher at 16455 from 16393 previously closed. 1 month NDF is trading higher at 16504 from 16460 previously closed.
USD/INR onshore spot market is trading higher at 87.60 from 87.42. 1 month NDF is trading lower at 87.66 from 87.85 previously closed.
NA Session
The USD advanced though strongly so only in the case of USD/JPY, breaking above 150 to reach 150.75. EUR/USD near 1.1420 and GBP near 1.3215 were slightly weaker as were the commodity currencies.
US data showed initial claims lower than expected if up by 1k to 218k, while the Q2 employment cost index at 0.9% was stronger than expected. Gains of 0.3% in June personal income, spending and core PCE prices confirmed Q2 data seen in the GDP report. May Canadian GDP fell by 0.1% as expected but the preliminary estimate for June was for a 0.1% increase. Trump extended the tariff deadline for Mexico for 90 days.