Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading mostly weaker against the greenback as USD gained strongly on trade uncertainty and sharp reversal in commodity. The biggest losers are KRW 0.83%, followed by SGD 0.33%, THB 0.18%, TWD 0.15%, PHP 0.11%, IDR 0.09%, MYR 0.08% and CNY & CNH & HKD 0.04%.

USD/CNH is trading higher at 7.1268 from 7.1241 previously closed. Onshore spot market is trading higher at 7.1247 from 7.1215 closed before the national holiday. 12 month NDF followed both the on/offshore market and is trading higher at 6.9908 from 6.9880 previously closed.

USD/IDR spot market is trading higher at 16590 from 16575 previously closed. 1 month NDF is trading higher at 16626 from 16575 previously closed.

USD/INR onshore spot market is closed. 1 month NDF is trading higher at 88.16 from 88.05 previously closed.

North American session

The only significant move was a dip in USD/CAD to 1.4015 from 1.4040 as a stronger than expected rise in September Canadian CPI to 2.4% yr/yr from 1.9% created some doubts over a potential Bank of Canada easing on October 29. The move was initially reversed before a fresh dip that got close to 1.40 before finding a base. Most other pairs were little changed, USD/JPY near 151.90, EUR/USD near 1.16 and AUD/USD near .6490.