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1 Month Holding Close To 1320, Onshore Markets Return Today

KRW

1 month USD/KRW was range bound post the Asia close but finished Monday's session close to 1321. A reminder that onshore markets return today after yesterday's holiday. From Friday, the onshore spot close was 1324.60. Won bulls will target a move back into the 1305/15 range and sub the 50-day MA (just under 1320), while on the topside for USD/KRW the 200-day MA comes in just above 1327.

  • Focus points today are likely to be the tech led equity rebound, The Kospi should see some positive carry over from such trends, given higher US Nasdaq futures and further gains in tech sensitive bourses yesterday in Asia Pac. Also, we saw a further chunky $1039.7mn in inflows into Taiwan equities yesterday.
  • The other focus point is likely to be around North Korea's proposed satellite launch, which has drawn criticism from both South Korea and Japan in recent days.
  • The data calendar just has retail sales/department store sales on tap today for Apr, although these prints could come out tomorrow.

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