Many Markets Closed, Those Open Post Gains

Thin volumes and news flow with several markets closed for holidays, while the usual pre-NFP lull is also expected to engender a subdued session. The greenback lost some ground after falling in the session on Thursday, while risk assets were supported.

• CNH: Offshore yuan is stronger, USD/CNH down 32 pips at 6.5736, still well within yesterday's range, sources note bids at 6.5716. The PBOC fixed USD/CNY at 6.5649, 3 pips below sell-side estimates. The last time the PBOC fixed above sell-side estimates, indicating a preference for a weaker yuan, was 10 sessions ago.
• KRW: Won strengthened after positive CPI data, while sentiment was also supported in the region by reports that US officials was planning to meet with semiconductor firms to address the global shortage of microprocessors.
• MYR: Ringgit strengthened, spurred on by higher oil prices after the OPEC+ group agreed to only gradually repeal supply cuts. It was reported the government is considering allowing interstate travel for people who have been vaccinated.
• SGD: Singapore dollar is higher, USD/SGD is stuck above 1.3432 a 23.6% retracement level
• THB: Baht is stronger, though is still lower on the week. THB gained alongside regional equity markets. Data after market yesterday showed Thailand's fiscal deficit jumped 138% Y/Y.