Asia Open - Overnight Highlights

EMERGING ASIA
EM currencies perform mostly stronger against the USD as the greenback remain soft in earlier sessions. THB saw the largest gains of 0.7%, followed by TWD 0.54%, KRW 0.47%, CNH and MYR 0.46%, CNY 0.45%, INR 0.21%, PHP 0.19% and IDR 0.06%; while the biggest loser is SGD 0.03% and HKD 0.02%.

USD/CNH is trading lower at 7.1199 compared to the 7.1527 at previous close. Onshore spot USD/CNY is trading lower at 7.1104 from 7.1427. 12 month NDF followed the offshore market and is trading lower at 6.9513 compared to 6.9703 previous closed.
USD/IDR spot market is trading lower at 15420 from 15430 previously closed. 1 month NDF is trading higher at 15454 from 15392 previous closed.
USD/INR onshore spot market is trading lower at 83.17 from 83.34. 1 month NDF is trading lower at 83.23 from 83.35 previously closed.

NA Session
Early U.S. Trading saw the USD drifting, as the jobless claims was not a game changer and the focus is switching to next week’s key U.S. economic data.  The USD then bounced off the low, as global bond yields drifted higher on a sense that the November/December optimism could be getting ahead of the Fed. Additionally, some U.S. money market tightening before year end also helped lift the USD off the lows.  Finally, USDCHF stalled before 0.8320, while USDJPY bears thought a test of 140.00 could require new news.  Into next week, opinion is mixed with the USD sentiment negative, but the USD oversold.