Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the major movement in the greenback awais the CPI data in the New York session. KRW saw the largest gains of 0.72%, followed by IDR 0.68%, THB 0.59%,  PHP 0.36%, MYR 0.34%, TWD 0.32% and INR 0.06%; the biggest loser is SGD by 0.47%, CNH 0.37%, CNY 0.18% and HKD 0.01%.

USD/CNH is trading higher at 7.2187 compared to the 7.2152 at previous close. Onshore spot USD/CNY is trading lower 7.1936 compared to the 7.1968 at previous close. 12 month NDF followed the onshore market and is trading higher at 7.0200 compared to 7.0140 previous closed.

USD/IDR spot market is closed. 1 month NDF is trading lower at 15627 from 15667 previous closed.

USD/INR onshore spot market is trading higher at 83.03 from 82.95. 1 month NDF is trading higher at 83.10 from 83.06 previously closed.

NA Session

In a fairly quiet North American session the USD slipped after annual CPI revisions saw few changes, leaving the recent improvement intact. USD/JPY saw a quick dip to 149 probably encouraged by December’s data being revised down, though October and November were revised up and the dips in UST yields, and USD/JPY, largely reversed. EUR and GBP held on to modest gains versus the USD slightly better, though EUR/USD remained below 1.08.

USD/CAD initially fell around 20 pips on stronger headline Canadian employment numbers, but with the details less impressive more than reversed the decline through the session, finishing around 20 pips higher. The USD also fell back modestly the AUD after the data, with those losses being mostly sustained despite the reversal in the CAD gains.