Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the early gains of greenback faded after strong Treasury auctions. THB saw the largest win of 0.20%, followed by PHP 0.17%, MYR 0.08%; the biggest losers are TWD 0.47%, KRW 0.16%, CNY 0.09%, CNH 0.08%, INR 0.07%, IDR 0.06% and SGD 0.03%.

USD/CNH is trading higher at 7.2714 from 7.2658 previously closed. Onshore spot USD/CNY is trading higher at 7.2545 than 7.2477 previously closed. 12 month NDF followed the both the on/offshore market and is trading higher at 7.0485 compared to 7.0460 previously closed.

USD/IDR spot market is trading higher at 16291 than 16283 previously closed. 1 month NDF is trading lower at 16316 from 16322 previously closed.

USD/INR onshore spot market is trading higher at 83.57 from 83.51 previously closed. 1 month NDF is trading higher at 83.67 from 83.59 previously closed.

NA Session

In a quiet North American session the USD saw some early gains which subsequently faded. GBP/USD dipped to near 1.27 before rebounding to 1.2740, while USD/JPY returned to near 157 after reaching as high as 157.40. USD/CAD peaked above 1.3790 before slipping to near 1.3750 while AUD/USD kept close to .66. EUR crept up to 1.2740 from a low of 1.2720.

The US NFIB Small Business Optimism Index saw a second straight gain, to 90.5 in May from 89.7, following three straight declines. Canadian building permits surged by 20.5% in Aril after falling by 12.3% in March.