Asia Open - Overnight Highlights

EMERGING ASIA
EM currencies perform individually against the USD as the risk sentiment turns vibrant after Nvidia's earning. KRW saw the largest gains of 0.46%, followed by PHP 0.42%, MYR 0.39%, IDR 0.29%,INR 0.15%, SGD 0.08%, TWD 0.07% and THB 0.05%; the biggest loser is CNH by 0.05%, CNY 0.04% and HKD 0.02%.
USD/CNH is trading higher at 7.2029 compared to the 7.1994 at previously closed. Onshore spot USD/CNY is trading higher at 7.1940 from 7.1912 previously closed. 12 month NDF diverged from both the on/offshore market and is trading lower at 6.9963 compared to 7.0030 previously closed.
USD/IDR spot market is trading lower at 15590 from 15635 previously closed. 1 month NDF is trading lower at 15598 from 15660 previously closed.
USD/INR onshore spot market is trading lower her at 82.84 from 82.97. 1 month NDF is trading lower at 82.94 from 83.03 previously closed.
NA Session
The USD made general gains through the North American session, benefitting from lower than expected jobless claims data in the latest week, at 201k from 203k, which is more significant than usual as it is the survey week for the employment report. EUR/USD lost around 40 pips to 1.0820, and USD/JPY advanced 40 pips to 150.60. There were similar gains across the board, although GBP slightly outperformed, with EUR/GBP dropping 20 pips to 0.8550.
S and P PMI data showed manufacturing up to 51.7 from 50.7 but services slipping to 51.3 from 52.5. A 3.1% rise in existing home sales to 4.00m was slightly stronger than expected. Fed’s Jefferson warned against excessive easing, a message backed by Harker late in the session.