MNI: SPAIN NOV MANUF PMI 53.1 (FCST 54.0); OCT 54.5

MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

1 Month KRW Outperforming Slightly, BoK Deputy Gov States Tightening Cycle May Not Be Over

KRW

1 month USD/KRW sits modestly below NY closing levels, last just under 1304.50. This is slightly outperforming steady CNH trends, although higher beta majors are firmer against the USD (A$ and NZD), while USD/JPY is lower, which may also be helping at the margins. Spot is above yesterday's closing levels, but not by much, last in the 1306/07 region.

  • Onshore equities are weaker, the Kospi last down close to 0.30%. This is in line with softer regional trends.
  • We have heard commentary from FinMin Choo. He stated growth may be weaker than expected and that the 1.6% 2023 GDP forecast may need to be nudged down. For the FX though, the trade deficit is expected to improve further in June and that FX volatility has eased of late.
  • The authorities also haven't decided whether power prices will rise in Q3, but Choo stated June CPI could fall to the 2% level.
  • BoK Deputy Governor Lee Sang-hyeong also spoke and stated the tightening cycle is not over yet, and it is too early to relax about inflation, per Reuters reports.
  • These points have likely aided KRW at the margins, but equity sentiment and broader USD swings will likely dominate for the rest of the session.
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.