Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform mostly weaker against the USD as USD found support from solid U.S. Treasury Yields. The only winners is INR by 0.08%; the largest loser are THB 0.85%, IDR 0.44%, PHP 0.38%, KRW 0.31%, MYR 0.25%, SGD 0.14%, CNH 0.07%, CNY and TWD 0.06%, HKD 0.02%.

USD/CNH is trading higher at 7.2831 from 7.2759 previously closed. Onshore spot market is trading higher at 7.2736 from 7.2691 previously closed. 12 month NDF followed both the on/offshore market and is trading higher  at 7.1123 compared to 7.1097 previously closed.

USD/IDR spot market is trading higher at 16009 from 15945 previously closed. 1 month NDF is trading higher at 16050 from 15977 previously closed.

USD/INR onshore spot market is trading lower at 84.79 from 84.86 previously closed. 1 month NDF is trading lower at 85.00 from 85.03 previously closed.

North America Session

October UK GDP was weaker than expected with a 0.1% decline, and the GBP initially dipped, though EUR/USD was supported by less weak than expected industrial production data, moving above 1.05 in early North America. This saw GBP/USD erase its post-GDP losses but with EUR/USD unable to hold above 1.05, GBP/USD saw renewed weakness, bottoming just above 1.26. EUR/GBP saw steady gains, moving comfortably above .83. EUR/CHF was also firmer near .9370.

USD/JPY was firmer as were UST yields, reaching 153.50 in Europe and extending to 153.70 in North America. AUD and CAD were firmer in Europe but largely erased their gains in North America.