Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform weaker against the USD as the USD follows the trend in U.S. Treasury Yields and regained traction on Trump's tariff threat. The only winner is PHP by 0.02%; the largest losers are THB 0.63%, SGD 0.48%, MYR 0.33%, CNH 0.32%, INR 0.22% and HKD by 0.02%.

USD/CNH is trading lower at 7.2752 from 7.2522 previously closed. Onshore spot market is closed. 12 month NDF followed both the on/offshore market and is trading lower at 7.1036 compared to 7.0853 previously closed.

USD/IDR spot market is closed. 1 month NDF is trading lower at 16271 from 16205  previously closed.

USD/INR onshore spot market is trading lower at 86.53 from 86.33 previously closed. 1 month NDF is trading lower at 86.77 from 86.59 previously closed.

NA Session

A quiet session saw EUR/USD in a narrow range near 1.0430 with GBP/USD. AUD/USD and USD/CHF all showing a similar lack of direction. USD/JPY did pick up above 155.50 after finding support near 155. USD/CAD saw a dip to 1.4370 from above 1.44 but this was largely reversed. 

December US durable goods orders fell 2.2% on aircraft but a 0.3% rise ex transport was in line with consensus. January consumer confidence fell to 104.1 from 109.5 but December was revised up from 104.7. January data saw labor market perceptions deteriorate and inflation expectations firmer.