Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading individually against the greenback after initial reaction towards lower claims neutralized by realization of U.S. holiday. The biggest winners are INR 0.23%, followed by MYR 0.22%, HKD 0.02% and TWD 0.01%; while the biggest losers are KRW 0.46%, THB 0.35%, PHP 0.22%, CNH 0.20%, SGD 0.19%, IDR 0.17% and CNY 0.11%.

USD/CNH is trading higher at 7.0716 from 7.0577 previously closed. Onshore spot market is trading higher at 7.0719 from 7.0640 closed before the national holiday. 12 month NDF followed both the on/offshore market and is trading higher at 6.9350 from 6.9243 previously closed.

USD/IDR spot market is trading higher at 16650 from 16622 previously closed. 1 month NDF is trading higher at 16669 from 16611 previously closed.

USD/INR onshore spot market is trading lower at 89.98 from 90.19 previously closed. 1 month NDF is trading lower at 90.07 from 90.40 previously closed.

NA Session

US initial claims surprisingly slipped to a 3-year low of 191k from 218k, though possibly influenced by Thanksgiving holiday seasonal adjustments. The initial reaction to the data was brief, but as the session progressed USD gains resumed, EUR/USD falling below 1.1650 from 1.1670 and USD/JPY rising above 155 from 154.85. GBP/USD reached a high of 1.3385 before slipping to 1.3335, leaving EUR/GBP only marginally lower at .8735. EUR/CHF advanced to .9360 from .9340. AUD and CAD also saw early gains corrected as the USD picked up, ending with only marginal gains versus the USD.