Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the greenback retraced earlier gains. THB saw the largest gains of 0.3%, followed by KRW 0.2%, INR 0.16%, PHP 0.13%, MYR 0.07%, CNH 0.06%, IDR 0.05% and SGD 0.02%; the biggest losers are TWD 0.11%, CNY 0.07% and HKD 0.02%.

USD/CNH is trading lower at 7.2487 compared to the 7.2531 at previously closed. Onshore spot USD/CNY is trading higher at 7.2160 from 7.2114 previously closed. 12 month NDF followed the offshore market and is trading lower  at 7.0365 compared to 7.0392 previously closed.

USD/IDR spot market is trading lower at 15793 from 15800 previously closed. 1 month NDF is trading higher at 15836 from 15799 previously closed.

USD/INR onshore spot market is trading lower at 83.29 from 83.42 previously closed. 1 month NDF is trading lower at 83.40 from 83.53 previously closed.

NA Session

The USD saw modest gains across the board in North America with USD/JPY rising to 151.50 and EUR/USD falling to 1.0835. AUD/USD erased its outperforming European gains.

While February durable goods orders with a 1.4% rise were slightly stronger than expected the ex-transport gain of 0.5% was modest and the story was more of risk positive moves rather than a reaction to data. Later March consumer confidence came in a little softer than expected at 104.7, little changed from 104.8 in February though that number was revised down from 106.7.