Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading mostly weaker against the greenback as USD retrace partial earlier moves. The biggest losers are KRW 0.37%, followed by THB 0.34%, INR 0.16%, SGD 0.12%, TWD 0.09%, PHP 0.08%, IDR 0.07% and CNY & CNH 0.03%; while the largest winners are MYR by 0.05%, followed by HKD 0.03%.

USD/CNH is trading lower at 7.1268 from 7.1249 previously closed. Onshore spot market is trading lower at 7.1270 from 7.1242 closed before the national holiday. 12 month NDF followed both the on/offshore market and is trading lower at 6.9880 from 6.9847 previously closed.

USD/IDR spot market is trading higher at 16590 from 16581 previously closed. 1 month NDF is trading lower at 16591 from 16593 previously closed.

USD/INR onshore spot market is trading lower at 87.97 from 87.82 previously close. 1 month NDF is trading higher at 88.15 from 88.12 previously closed.

North American session

Comments from Trump that 100% tariffs were not sustainable early on eased trade worries and while equities were choppy USD/JPY was lifted to 150.50 from 149.85 and AUD/USD to .65 from .6470. USD/CAD also moved lower, if later on the session as equities gained strength, to 1.4015 after rising to 1.4050. 

EUR/USD saw modest losses to 1.1670 from near 1.17 but a dip in GBP/USD below 1.34 was not sustained. EUR/GBP slipped to .8685 from .87. EUR/CHF was stable near .9250.