Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading mostly weaker against the greenback as USD is broadly stronger on geopolitical and Fed uncertainty. The biggest losers are THB 0.75%, KRW 0.51%, SGD 0.23%, IDR 0.19%, PHP 0.14%, CNH 0.08%, CNY 0.07%, HKD 0.06%, TWD 0.04% and INR 0.02%; while the only winner is MYR by 0.15%.

USD/CNH is trading higher at 6.9735 from 6.9680 previously closed. Onshore spot market is trading higher at 6.9777 from 6.9731. 12 month NDF followed both the on/offshore market and is trading higher at 6.8526 from 6.8521 previously closed.

USD/IDR spot market is trading higher at 16865 from 16833 previously closed. 1 month NDF is trading lower at 16874 from 16890 previously closed.

USD/INR onshore spot market is trading higher at 90.18 from 90.16 previously closed. 1 month NDF is trading higher at 90.52 from 90.39 previously closed.

NA Session

US December CPI rose by 0.3% as expected overall but the core rate ex food and energy was softer than expected at 0.2%. The USD saw a brief dip on the data but ended slightly stronger. USD/JPY rose to 159.10 from 158.90. EUR/USD was little changed near 1.1650 but EUR/GBP and EUR/CHF both advanced by 10 pips. With equities weaker AUD/USD slipped to .6680 from .67 but USD/CAD gains were marginal, as 1.39 capped the upside.