Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading mostly stronger against the greenback as the broad risk sentiment recovers. The biggest winners are INR by 1.38%, MYR 0.34%, KRW 0.3%, SGD & IDR 0.18%, TWD 0.12%, CNH 0.11%, THB & CNY 0.1%; while the largest winner is HKD 0.03%.

USD/CNH is trading lower at 6.9351 from 6.9426 previously closed. Onshore spot market is trading lower at 6.9385 from 6.9453. 12 month NDF followed both the on/offshore market and is trading lower  at 6.8065 from 6.8143 previously closed.

USD/IDR spot market is trading lower at 16760 from 16790 previously closed. 1 month NDF is trading lower at 16768 from 16773 previously closed.

USD/INR onshore spot market is trading lower at 90.27 from 91.51 previously closed. 1 month NDF is trading lower at 90.56 from 90.66 previously closed.

NA Session

The USD picked up in the European morning but slipped back in North America to end little changed overall. USD/JPY touched 156 after opening in Europe around 155.40 and saw only a modest correction to 155.75. EUR/USD slipped to a low of 1.1780 but rebounded back  near European opening levels around 1.1815. EUR/GBP had little direction but EUR/CHF slipped to .9160 from .9190. AUD/USD was stable near .70 consolidating post-RBA gains but USD/CAD slipped to 1.3640 from 1.3680.

The government shutdown meant that December’s JOLTS report was delayed but the House passed a bill that would allow the government to reopen. Equites slipped, led by tech.