Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform mostly stronger against the USD as the USD treads lower throughout Friday. THB saw the largest gains of 1.25%, followed by MYR 0.79%, KRW 0.63%, TWD 0.43%, PHP 0.34%, SGD 0.29%, CNY 0.28%, CNH 0.26%, IDR 0.19%, INR 0.09% and HKD 0.05%.

USD/CNH is trading lower at 7.1004 from 7.1190 previously closed. Onshore spot USD/CNY is trading lower at 7.0972 from 7.1177 previously closed. 12 month NDF followed both the on/offshore market and is trading lower at 6.9159 compared to 6.9307 previously closed.

USD/IDR spot market is trading lower at 15402 from 15439 previously closed. 1 month NDF is trading lower at 15428 from 15431 previously closed.

USD/INR onshore spot market is trading lower at 83.89 from 83.97 previously closed. 1 month NDF is trading lower at 83.98 from 84.02 previously closed.

North America Session

The USD started the session under some pressure, EUR/USD touching 1.11 and USD/JPY slipping to 140.30, but a stronger Michigan CSI of 69.0 from 67.9 with the 5-10 year inflation view at 3.1% from 3.0% helped the USD to stabilize. USD/JPY recovered to 140.90 while EUR/USD corrected back to 1.1080. The USD was mostly little changed, but USD/CAD did advance as high as 1.36 from 1.3575.