Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD with the broad market sentiment relatively calmer than previous two days. IDR saw the largest gains of 0.88%, followed by THB 0.85%, MYR 0.56%, PHP 0.36%, TWD 0.33%, SGD 0.16% and HKD 0.04%; the biggest losers are IDR 0.21% and PHP 0.11%.

USD/CNH is trading higher at 7.1842 from 7.1733 previously closed. Onshore spot USD/CNY is trading lower at 7.1762 from 7.1766 previously closed. 12 month NDF followed the offshore market and is trading higher at 6.9997 compared 6.9795 to previously closed.

USD/IDR spot market is trading lower at 15894 from 16035 previously closed. 1 month NDF is trading lower at 15982 from 16036 previously closed.

USD/INR onshore spot market is trading higher at 83.96 from 83.95 previously closed. 1 month NDF is trading higher er at 84.08 from 84.02 previously closed.

NA Session

US initial claims slipped to 233k from 250k, and while the 4-week average continues to increase the lower than expected data eased fears generated by Friday’s employment report and sent UST yields and equities higher. 

USD/JPY moved above 147 from near 146 while USD/CHF rose to .8655 to .8560.  EUR/USD slipped below 1.09 from 1.0930 on the data but recovered to around 1.0915, meaning that EUR/CHF advanced to .9450 from .9360. 

Risk sensitive-currencies benefited from the equity bounce, with GBP/USD rising to near 1.2750 after dipping below 1.27 on the data, as EUR/GBP fell to .8665 from .8610. AUD/USD advanced to .6590 from .6550 and with USD/CAD remaining above European lows AUD/CAD rose to near .9050 from .90.