Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2023-12-25T00:13:57.000Z

Asia Open - Overnight Highlights

byCephas Kin Long Yung

FX Analyst
-

EMERGING ASIA

EM currencies perform mostly stronger against the USD as the greenback tilt softer before heading into Christmas holiday. THB saw the largest gains of 0.62%, followed by MYR 0.56%, PHP 0.34%, IDR 0.27%, TWD 0.26%, SGD 0.19%, KRW 0.18%, INR 0.15% and CNY 0.03%; while the biggest loser is CNH 0.15% and HKD 0.03%.

USD/CNH is trading lower at 7.1544 compared to the 7.1436 at previous close. Onshore spot USD/CNY is trading lower at 7.1358 from 7.1378 . 12 month NDF followed the offshore market and is trading lower at 6.9786 compared to 6.9689 previous closed.

USD/IDR spot market is trading higher at 15484 from 15525 last closed. 1 month NDF is trading lower at 15478 from 15458 previous closed.

USD/INR onshore spot market is trading higher at 83.15 from 83.27. 1 month NDF is trading higher at 83.34 from 83.33 previously closed.

Major

The USD had a slightly softer tone heading in to the US data, which saw November durable goods orders well above expectations with a rise of 5.4%, 0.5% ex transport, but a softer than expected 0.1% increase in November’s core PCE price index. The USD saw a quick spike that was rapidly reversed, leaving the USD near pre-data levels, EUR/USD a little above 1.10 and USD/JPY near 142.
USD/CAD saw the largest move, sliding to a low of 1.3219 from around 1.3275 despite an unchanged Canadian GDP outcome for October being weaker than expected.
Later US new home sales fell sharply by 12.2% to 590k but there was little market response, and the USD subsequently corrected higher. EUR/USD remained near 1.10 but USD/JPY advanced to 142.50 while USD/CAD retraced most of its losses as gains in the oil price faded. 

 

 

 

Continue to read the article for free
Login

or

or

Topics
FX Highlights
Foreign Exchange
Asian Open

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image