Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform mostly stronger against the USD as the greenback stays on the defensive side . THB saw the largest win of 0.54%, followed by MYR 0.1%, HKD 0.09%, IDR and CNH 0.06%, CNY 0.02% and TWD 0.01%; the largest losers are INR 0.46%, PHP 0.09% and SGD 0.06%.

USD/CNH is trading lower at 7.2475 from 7.2517 previously closed. Onshore spot USD/CNY is trading lower at 7.2403 than 7.2418 previously closed. 12 month NDF diverged from both the on/offshore market and is trading lower at 7.0299 compared to 7.0290 previously closed.

USD/IDR spot market is trading lower at 16220 than 16230 previously closed. 1 month NDF is trading higher at 16298 from 16219 previously closed.

USD/INR onshore spot market is trading higher at 83.52 from 83.14 previously closed. 1 month NDF is trading higher at 83.64 from 83.17 previously closed.

NA Session

The USD was generally slightly softer in North America, assisted by JOLTS data showing US job openings down by 296k to 8.059m in April. USD/JPY extended European losses to a low of 154.55 before correcting to 154.75 though AUD and CAD largely sustained European losses. 

EUR/USD saw a modest recovery to 1.0880 from 1.0860. GBP/USD rose to near 1.28 after touching below 1.2750, before slipping back to 1.2775 leaving EUR/GBP little changed. EUR/CHF extended losses to .9680. EUR/NOK sustained European gains while EUR/SEK saw a partial correction from its European highs.