MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI BRIEF: Limited Economic Impact Of French Crisis - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

1 Month Back Sub All Key EMAs, First 10 Days Of March Trade Data Due

KRW

1 month USD/KRW hit fresh lows back to mid Jan on Friday during US trade. We touched 1308.85 (BBG), before rebounding, closing at 1135.8, which was still a won gain of 0.51%. Last week the 1 month NDF rose nearly 1.1%, its best weekly gain since mid Dec last year. Note onshore spot finished up at 1319.75 on Friday.

  • 1 month USD/KRW is now sub all the key EMAs, breaking sub the 200-day on Friday at 1318.3. The pair hasn't been sub all the key EMAs since the start of this year.
  • The generally positive global equity backdrop (albeit with losses for US and EU shares on Friday) has aided risk on flows into the won. This has been supported by a pull back in US yields, with yen outperforming in the G10 space (another positive for the won).
  • The Kospi remains within striking distance of the 2700 level, while last week offshore investors added $433.9mn to local shares.
  • Note the data calendar today has the first 10-days of trade figures out for March.
  • The Financial Supervisory Service will reportedly release interim results into a probe of local banks sales of equity-linked products tied to Hong Kong's China Enterprises Index (BBG).
  • Officials will also be in NY for the first two days of this week to discuss FX market reforms (see this BBG link).
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.