Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD after the volatility post FOMC quiets down on a Friday. IDR saw the largest gains of 0.58%, followed by CNH 0.42%, CNY 0.22%, INR 0.14%, THB 0.11%, SGD 0.09%, MYR 0.07% and HKD 0.06%; the biggest loser is KRW by 0.46%, followed by PHP 0.15% and TWD 0.12%.

USD/CNH is trading lower at 7.0421 from 7.0716 previously closed. Onshore spot is trading lower at USD/CNY 7.0470 from 7.0627  previously closed. 12 month NDF followed both the on/offshore market and is trading lower at 6.8695 compared to 6.9004 previously closed.

USD/IDR spot market is trading lower at 15150 from 15239 previously closed. 1 month NDF is trading lower at 15179  from 15205 previously closed.

USD/INR onshore spot market is trading lower at 83.57 from 83.68 previously closed. 1 month NDF is trading lower at 83.60 from 83.73 previously closed.

North America Session

The USD was little changed in North America, with USD/JPY establishing a 143.50 to 144.50 range after its European gains. The USD saw some early losses, particularly versus the CAD after a stronger than expected 0.9% rise in July Canadian retail sales, but these were subsequently reversed and more. The USD however edged back down after comments from Fed’s Waller, who justified the 50bps easing on softer core PCE inflation signals. 

EUR/USD was little changed near 1.1160, and USD/JPY ended near 144. EUR/CHF was firmer near .9495 but EUR/GBP softer near .8380. AUD and CAD were little changed versus the USD, with AUD/CAD losses after the Canadian data erased.