Asia Open - Overnight Highlights

EMERGING ASIA

Most EM currencies are closed for trading to observe their respective holiday. The biggest losers are SGD by 0.37%, followed by CNH 0.1% and HKD 0.01%.

USD/CNH is trading lower at 7.789 from 7.2698 previously closed. Onshore spot market is closed. 12 month NDF followed both the on/offshore market and is trading lower at 7.0992 compared to 7.0989 previously closed.

USD/IDR spot market is trading lower at 16577 from 16603 previously closed. 1 month NDF is trading lower at 16627729 from 16579 previously closed.

USD/INR onshore spot market is closed. 1 month NDF is trading lower at 84.86 from 84.77 previously closed.

NA Session

The USD took a brief hit when initial claims rose to 241k from 223k but this was quickly reversed with the rise seen largely due to an Easter break in New York schools. The USD saw a more sustained bounce when the April ISM manufacturing index of 48.7 from 49.0 proved more resilient than expected. A small rise in prices paid to 69.8 from 69.4 added to the sense of relief. 

USD/JPY rose a big figure to 145.60. EUR/USD fell to 1.1290 from 1.1315. EUR/GBP was little changed near .85 but EUR/CHF was stronger near .9385. USD/CAD bounced to 1.3850 from 1.38 but AUD/USD swas little changed near .6390.