Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the greenback is only trading lower against JPY and mostly stronger against majors. MYR and THB saw the largest gains of 0.19%, followed by KRW 0.17%, CNH 0.1%, IDR 0.06%, TWD and SGD 0.03%; the biggest losers are PHP 0.09%, INR and HKD 0.03%, CNY 0.01%.

USD/CNH is trading lower at 7.2891 from 7.2961 previously closed. Onshore spot USD/CNY is trading higher at 7.2748 from 7.2737 previously closed.. 12 month NDF followed the offshore market and is trading lower at 7.0802 compared 7.0839 to previously closed.

USD/IDR spot market is trading lower at 16214 from 16220 previously closed. 1 month NDF is trading unchanged at 16229 than previously closed.

USD/INR onshore spot market is trading higher at 83.69 from 83.66 previously closed. 1 month NDF is trading higher at 83.78 from 83.75.

NA Session

It was a quiet session with little movement in FX or equities. There was little reaction to a weaker than expected 5.2% decline in June US existing home sales, though UST yields were slightly lower.

USD/JPY lost a little more ground to 155.65 while EUR/USD stabilized near 1.0850, seeing EUR/JPY fall below 169. The commodity currencies lost some ground, AUD/USD falling to .6615 and USD/CAD rising to 1.3775.