Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform mostly stronger against the USD with the broad market taking a break on the last trading day. MYR saw the largest gains of 1.11%, followed by KRW 0.90%, TWD 0.46%, THB 0.23%, CNH 0.14%, SGD 0.13%, CNY 0.11%, PHP 0.08% and INR 0.01%; the biggest losers are IDR 0.19% and HKD 0.04%.

USD/CNH is trading lower at 7.1744 from 7.1842 previously closed. Onshore spot USD/CNY is trading lower at 7.1683 from 7.1762 previously closed. 12 month NDF followed both the on/offshore market and is trading higher at 6.9974 compared 6.9997 to previously closed.

USD/IDR spot market is trading higher at 15925  from 15894 previously closed. 1 month NDF is trading lower at 15955 from 15982 previously closed.

USD/INR onshore spot market is trading lower at 83.95 from 83.96 previously closed. 1 month NDF is trading lower at 84.03 from 84.08 previously closed.

NA Session

In a quiet session USD/JPY saw an early dip to a low of 146.27 from around 147 before correcting back above 146.50. EUR/USD was confined to a tight range around 1.0920. GBP/USD was slightly more volatile, bottoming at 1.2726 before peaking at 1.2774, but ended little changed near 1.2760.

The only significant data as an unexpected 2.8k decline in July Canadian employment, though the unemployment rate remained unchanged at 6.4%. USD/CAD slipped to 1.3730 from 1.3745 despite the weak data while AUD/USD was little changed near .6575, sustaining European losses.