Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading individually against the greenback as the USD is trading mostly steady throughout sessions. The biggest winner is MYR by 0.27%, followed by CNH0.26% and CNY 0.15%; while the largest loser is SGD 0.35%, followed by IDR 0.26%, INR 0.24%, TWD 0.07%, PHP 0.04% and HKD by 0.01%.

USD/CNH is trading lower at 7.1910 from 7.1917 previously closed. Onshore spot market is trading lower at 7.1883 from 7.1990. 12 month NDF diverged from both the on/offshore market and is trading lower at 7.0110 from 7.0255 previously closed.

USD/IDR spot market is trading higher at 16309 from 16253 previously closed. 1 month NDF is trading higher at 16360 rom 16316 previously closed.

USD/INR onshore spot market is trading higher at 85.59 from 85.38. 1 month NDF is trading higher at 85.85 from 85.54 previously closed.

NA Session

The USD maintained a form tone, led by USD/JPY, which saw highs above 144. The USD was supported by a rise in April job openings of 191k, though the reaction to the data was quickly reversed other than for USD/JPY. EUR/USD remained weaker below 1.14 but with little movement. EUR/GBP moved down to near .8410 but EUR/CHF was stronger near .9375. GBP/USD and AUD/USD saw marginal gains and USD/CAD was marginally lower, though rebounding after testing 1.37.