Mixed Start To The Month

The greenback was steady as markets reaction to the US's latest stimulus plan was muted, volumes were thin ahead of Easter holiday's with some markets already closed.

• CNH: Offshore yuan is weaker, giving back after two days of gains. USD/CNH last up 93 pips at 6.5740, it reversed course after a miss in Caixin PMI data, jumping from session lows of 6.5583.
• SGD: Singapore dollar weaker, there were reports in The Straits Times that China and Singapore could allow travel to resume if there is a system that mutually recognises health certification and personal information exchange
• TWD: Taiwan dollar is weaker, losing ground for a second day and consolidating over 28.50. March saw TWD post its first monthly decline since for 8 months. USD/TWD came off session highs after decent PMI data.
• KRW: The won is higher, the trade surplus widened slightly less than expected, but printed a robust $4.175bn, exports rose 16.6%, in line with estimates, South Korea Markit PMI Manufacturing was also released, the print was in line with the previous at 55.3.
• IDR: Rupiah is weaker, PMI headline index improved to 53.2 from 50.9. IHS Markit pointed to "firms ramping up production in response to the strongest influx of new orders in the decade-long survey so far." Market awaits CPI data.
• MYR: Ringgit has strengthened, FinMin Zafrul said that Malaysia's economy is expected to rebound strongly this year, boosted by various stimulus measures.
• PHP: Market closed for Maundy Thursday.
• THB: Baht is lower, Thailand's industrial output shrank 1.08% Y/Y in Feb, missing consensus forecast of a 0.60% increase. Declines in oil, refinery, clothing and beer productions weighed on the composite index. Thailand's Markit M'fing PMI came in at 48.8 in Mar after printing at 47.2 in Feb.