Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading mostly weaker against the greenback as the USD regained strongly along the rising U.S. Treasury Yields. The only winner is INR by 0.19; the biggest loser is THB by 0.3%, followed by SGD 0.27%, CNY 0.21%, CNH 0.17%, MYR 0.11%, TWD 0.03% and HKD 0.01%.

USD/CNH is trading higher at 7.1886 from 7.1761 previously closed. Onshore spot market is trading lower at 7.1926 from 7.1777. 12 month NDF followed the offshore market and is trading higher at 7.0098 from 7.0023 previously closed.

USD/IDR spot market is trading lower at 16285 from 16284 previously closed. 1 month NDF is trading lower at 16332 rom 16273 previously closed.

USD/INR onshore spot market is trading lower at 85.63 from 85.79. 1 month NDF is trading lower at 85.89 from 86.98 previously closed.

NA Session

Equities and UST yields both picked up on a slightly stronger non-farm payroll increase of 139k, even with 95k in net negative revisions. Average hourly earnings saw an above trend 0.4% increase and unemployment was unchanged at 4.2%. USD gains were largely felt in USD/JPY, which saw highs above 145 from 144.25. EUR/USD saw lows below 1.14 from marginally above, but settled near the figure. EUR/GBP was little changed but EUR/CHF edged lower. 

Canadian employment saw an unexpected rise of 8.8k though unemployment rose to 7.0% from 6.9%. USD/CAD saw little reaction to the data but eventually edged marginally higher to 1.37. AUD/USD was little changed, bringing marginal gains in AUD/CAD.