Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading mostly stronger against the greenback as the USD slides on weaker than expected U.S. data. The biggest winner is KRW by 0.94%, followed by TWD 0.9%, THB 0.54%, SGD 0.45%, MYR and CNH 0.35%, CNY0.25% and IDR 0.15%; the biggest loser is INR by 0.1%.

USD/CNH is trading higher at 7.1735 from 7.1986  previously closed. Onshore spot market is trading higher at 7.1727 from 7.1903. 12 month NDF followed both the on/offshore market and is trading higher at 7.0001 from 7.0174 previously closed.

USD/IDR spot market is trading higher at 16235 from 16260 previously closed. 1 month NDF is trading higher  at 16235 from 16275 previously closed.

USD/INR onshore spot market is trading lower at 85.60 from 85.51. 1 month NDF is trading lower at 85.70 from 86.56 previously closed.

NA Session

A weak 0.1% rise in US PPI, both headline and core, and higher than expected initial claims of 248k saw the USD bounce above 1.16 and USD/JPY fall to a low of 143.19 but the move was not sustained and EUR/USD slipped back to 1.1580 while USD/JPY returned to 143.50. GBP/USD saw highs above 1.36 as EUR/GBP corrected from European highs to .8515. With equities edging higher, USD/CAD slipped to test 1.36 while AUD/USD was firmer near .6525.