Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the USD digest the softer NFP's implication towards Fed's rate decision and USD movement were mostly dominated by JPY pair price action through out the sessions. MYR saw the largest gains of 0.69%, followed by THB 0.60%, PHP 0.14%, SGD 0.09%, IDR 0.03%; the biggest losers are TWD 0.23%, CNH 0.22%, KRW 0.15%, CNY 0.1%, INR 0.03% and HKD 0.01%.

USD/CNH is trading higher at 7.1356 from 7.1202 previously closed. Onshore spot USD/CNY is trading higher at 7.1208 from 7.1136 previously closed. 12 month NDF followed both the on/offshore market and is trading higher at 6.9417 compared 6.9315 to previously closed.

USD/IDR spot market is trading lower at 15455 from 15456 previously closed. 1 month NDF is trading unchanged at 15483.

USD/INR onshore spot market is trading higher at 83.97 from 83.95 previously closed. 1 month NDF is trading unchanged at 84.07.

North America Session

In a session with little news price action was consistent with risk off sentiment ahead of Wednesday’s US CPI release, with USD/JPY slipping below 142.50 from near 143 and the commodity currencies losing ground. USD/CAD bounced to 1.36 from 1.3575 though AUD/USD slippage below .6650 was subsequently reversed. EUR/USD was little changed near 1.1025. EUR/GBP was unable to sustain a recovery and EUR/CHF was weaker near .9335.

August’s NFIB index of Small Business Optimism corrected from four straight gains, slipping to 91.2 from 93.7. Equities were mixed but UST yields were lower.