Overnight Price Action
EUR popped higher to 1.3620, extending its post Draghi gains before retracing to 1.3606. The USD continues to lose ground, with the exception of USDJPY which bounced higher to 97.70 from a low of 97.26. Elsewhere, AUD edged higher to 0.939 while NZD maintained gains at 0.830. USDAsia gapped lower on the open, led by MYR. MYR is on track for its second best weekly performance since May, up another 1% today to 3.1990. INR rose 0.5% to 62.2 on the open, and PHP rallied 0.6% to 43.12 on the back of Moody’s upgrade.
In equity, the Nikkei and S&P futures fell marginally by 0.1%, but the rest of the region rallied. Heng Seng rose 0.9%, Thailand and Taiwan were up 1,6% and 1.2%, respectively. US 10y yield edged higher by 1bps to 2.625. Asian rates were mixed, yields are higher in Singapore and Thailand, but lower in Indonesia and Malaysia.
Read the full report: Market Research
Credit Suisse