Mixed In Thin Trade

Mixed performance in thin holiday trade, with the greenback softening slightly after rallying post-NFP on Friday.

• CNH: The yuan is slightly weaker, but broadly unchanged from Friday. There were reports over the weekend that the PBOC has asked lenders to reduce credit supply in order to cool the property boom amid concerns over asset bubbles. Chinese markets are closed for a holiday.
• SGD: Singapore dollar slightly stronger, markets await retail sales data that is expected to decline again in February on a monthly basis.
• KRW: Won is weaker, there is some coronavirus concern in the country with new cases still elevated and government talk of a potential fourth wave.
• IDR: Rupiah is stronger, despite the decision by the government to extend movement curbs in several areas for two weeks in an effort to contain the spread of coronavirus.
• THB: Baht weakened, moving into negative territory after CPI missed estimates. CPI fell 0.08% Y/Y, against expectations for a 0.21% rise.
• PHP: Peso is stronger, IHS Markit Philippines' March manufacturing PMI falls to 52.2 from 52.5 in February, third consecutive month of expansion.
• MYR: Ringgit is weaker, oil prices also pulled back slightly which weighed on MYR.