Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the price action in the New York session deviates from Asia and London session. THB saw the largest gains of 0.24%, followed by PHP 0.15%, MYR 0.08%, SGD 0.06% and TWD 0.03%; the biggest losers are CNH 0.32%, IDR 0.25%, KRW 0.06%, CNY 0.05% and INR 0.03%.

USD/CNH is trading higher at 7.2635 from 7.2402 previously closed. Onshore spot USD/CNY is trading higher at 7.2505 from 7.2469 previously closed. 12 month NDF followed both the on/offshore market and is trading higher at 7.0518 compared 7.0460 to previously closed.

USD/IDR spot market is trading higher at 16301 from 16250 previously closed. 1 month NDF is trading lower at 16290 from 16343 previously closed.

USD/INR onshore spot market is trading higher at 83.72 from 83.70 previously closed. 1 month NDF is trading lower at 83.79 from 83.83.

NA Session

UST yields and equities rallied as June core PCE prices came in on consensus at 0.2%, and slightly less before rounding. This did see USD/JPY slip to a low of 153.15 from 154.70 before recovering to 153.75 but EUR/USD was stable near 1.0860. GBP/USD dipped to 1.2350 before recovering to 1.2475. AUD/USD was stable but USD/CAD bounced from near 1.38 to see highs near 1.3850. 

Other US data saw personal income with a 0.2% increase while spending rose by 0.3%. Later the final July Michigan CSI was revised up to 66.4 from 66.0 as an upward revision h a 0.2% increase while spending rose by 0.3 to expectations outweighed a downgrade to current conditions.