February 05, 2023 23:20 GMT
1 Month NDF Back Close To 1250
1 month USD/KRW finished Friday's NY session just above 1247, +1.9% higher for the session. This move was in line with higher beta FX pairs in the G10 space, as the USD saw broad based support post the payrolls data. The pair hasn't been above 1250 since the first part of January, so this level could be watched on the topside, particularly with fresh yen weakness in the first part of the trading session. On the downside, the 20-day EMA comes in close to 1239.
- The data calendar is empty today, but the Financial Supervisory Service Governor, Lee Bok-hyun does meet with local media.
- The equity lead is negative for the Kospi following US falls on Friday. Tech indices didn't underperform greatly though (SOX -1.9%, MSCI IT -0.92%).
- To recap, the Kospi ended last week at 2480.40, +0.47% for Friday's session, but close to unchanged for the week. Offshore investors added $1.1bn to local stocks last week, with $475.6mn added on Friday's session.