Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-01-12T00:12:00.000Z

Asia Open - Overnight Highlights

byCephas Kin Long Yung

FX Analyst
-

EMERGING ASIA
EM currencies perform mostly stronger against the USD as the greenback was trading lower broadly beofre the U.S. CPI. KRW saw the largest gains of 0.57%, followed by PHP 0.52%, IDR 0.14%, CNH 0.11%, TWD 0.1%, CNY 0.08%, SGD 0.06% and HKD 0.01%; while the only losers are THB 0.2% and MYR 0.04%.

USD/CNH is trading lower at 7.1751 compared to the 7.1832 at previous close. Onshore spot USD/CNY is trading lower at 7.1668 from 7.1727. 12 month NDF followed the offshore market and is trading lower at 6.9830 compared to 6.9883 previous closed.
USD/IDR spot market is trading higher at 15549 from 15570 previously closed. 1 month NDF is trading higher at 15561 from 15562 previous closed.
USD/INR onshore spot market is trading unchanged at 83.03. 1 month NDF is trading lower at 83.19 from 83.11 previously closed.

NA Session


The USD gained ground through the North American session, benefiting from a stronger than expected December CPI print along with another fall in continuing jobless claims and still low initial jobless claims. December CPI saw 0.3% rises in both the headline and core measures. Market consensus was 0.2% for headline and 0.3% for core, so the data was only modestly on the strong side. However, the consensus for y/y rates was 3.2% and 3.8% for headline and core, and the outcomes were 3.4% and 3.9% - both above expectations, suggesting a slightly stronger outcome than the m/m data suggested. 
EUR/USD initially spiked higher to 1.10 from 1.0985 before the data, but this was very brief and by the end of the session it had slipped back below 1.0950. AUD/USD saw the biggest decline, falling 1% to 0.6650, helped by a weaker equity market, with the S&P losing nearly 1% after futures briefly spiked above 4800 after the data. But the JPY also underperformed the EUR, with USD/JPY jumping more than half a figure to trade above 146. EUR/JPY briefly traded above 160 before edging back below this level. 

 

 

Continue to read the article for free
Login

or

or

Topics
FX Highlights
Foreign Exchange
Asian Open

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image