Asia Open - Overnight Highlights

EMERGING ASIA
EM currencies perform mostly weaker against the USD as the greenback traded broadly stronger, led by the recovery in USD/JPY as market participants prefer not to get caught wrong footed by the BoJ. KRW saw the largest losses of 0.91%, followed by MYR 0.45%, THB 0.42%, TWD 0.3%, PHP 0.22%, SGD 0.12%, IDR and INR 0.08%, CNH, CNY and HKD 0.04%.
USD/CNH is trading higher at 7.2057 compared to the 7.2026 at previously closed. Onshore spot USD/CNY is trading higher at 7.1970 from 7.1942 previously closed. 12 month NDF followed both the on/offshore market and is trading higher at 6.9990 compared to 6.9945 previously closed.
USD/IDR spot market is trading higher at 15599 from 15580 previously closed. 1 month NDF is trading higher at 15656 from 15624 previously closed.
USD/INR onshore spot market is trading higher at 82.88 from 82.82 previously closed. 1 month NDF is trading lower at 82.99 from 83.05 previously closed.
NA Session
The USD made some general gains through the North American session, in what was generally a fairly newsless session. USD/JPY made the biggest gains, rising around 40 pips to trade above 149. The USD also made marginal gains against the commodity and European currencies, but ranges were very tight.
There wasn’t a great deal to drive trade, with data mixed though equities lost some ground. The Empire manufacturing survey was weak at -20.9 and import prices on consensus with a 0.3% rise. Industrial production up a marginal 0.1% but with manufacturing rising by 0.8%, and, Michigan sentiment little changed at 76.5 from 76.9.