Clone - Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform mostly stronger against the USD as the greenback continues to tread lower throughout sessions. KRW saw the largest gains of 0.68%, followed by THB 0.46%, TWD 0.31%, PHP 0.24%, SGD 0.18%, IDR 0.14%, INR 0.08%, CNH 0.06%, CNY 0.02% and HKD 0.01%.

USD/CNH is trading lower at 7.2993 from 7.3035 previously closed. Onshore spot USD/CNY is trading lower at 7.2673 than 7.2688 previously closed. 12 month NDF followed both the on/offshore market and is trading lower at 7.0807 compared 7.0831 to previously closed.

USD/IDR spot market is trading lower at 16375 from 16406 previously closed. 1 month NDF is trading lower at 16363 from 16399 previously closed.

USD/INR onshore spot market is trading lower at 83.38 than 83.46 previously closed. 1 month NDF is trading lower at 83.44 than 83.54 previously closed.

NA Session

The USD saw only a brief dip on a subdued 0.1% increase in core PCE prices. Income with a 0.5% increase was above consensus but spending at 0.2% fell short. Fed’s Daly welcomed the core PCE price data soon after. 

The main move of the day was a sharp subsequent spike in EUR/JPY through 172 that reached 172.40 before a modest correction. This saw USD/JPY and EUR/USD both firmer near 160.80 and 1.0710 respectively. AUD/USD extended gains to .6670 while USD/CAD slipped back below 1.37.