Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading individually against the greenback as strong U.S. data curbed the early weakness in sentiment. The biggest winners are INR 0.23%, followed by CNH & IDR 0.15%, CNY 0.12% and THB 0.11%; while the biggest losers are PHP 0.44%, TWD 0.04%, MYR, KRW & HKD 0.02% and SGD 0.01%.

USD/CNH is trading lower at 7.0610 from 7.0717 previously closed. Onshore spot market is trading lower at 7.0636 from 7.0720 closed before the national holiday. 12 month NDF followed both the on/offshore market and is trading lower at 6.9276 from 6.9358 previously closed.

USD/IDR spot market is trading lower at 16665 from 16690 previously closed. 1 month NDF is trading lower at 16686 from 16709 previously closed.

USD/INR onshore spot market is trading lower at 89.88 from 90.09 previously closed. 1 month NDF is trading lower at 90.20 from 90.42 previously closed.

NA Session

The US released the JOLTS report on labor turnover for September and October. The data was stronger than expected, with job openings up by a strong 431k in September and a marginal 12k in October. USD/JPY rose to a high of 156.95 from 156.40 with only marginal correction later, while EUR/USD slipped to a low of 1.1615 from 1.1640 before correcting to 1.1630.  

BoE testimony raised expectations for a December easing, and EUR/GBP rose above .8740. EUR/CHF in contrast was weaker near .9370 from .9390. EUR/NOK erased earlier losses but losses in EUR/SEK were sustained. AUD/USD and USD/CAD were little changed.