1 Month USD/KRW Back Below 200-day MA, First 20-Days April Trade Data On Tap

1 month USD/KRW finished the NY session near 1321, with a rough 1318/1324 range post the Asia close. Onshore spot finished yesterday at 1322.90. We are back below the simple 200-day MA , which sits above 1324.

• We have already had the PPI for March print, which eased further to 3.3% y/y, from 4.8% in Feb. Momentum has eased back to early 2021 levels.
• Coming up a little later is the first 20-days of trade data for April (9am local time). The first 10-days saw export growth remain in negative territory, along with imports as well. The Finance Minister will hold a meeting on exports prior to the release of the figures.
• Also note incoming BoK board members are scheduled to deliver their respective inauguration speeches.
• Earlier comments from North Korea crossed the wires, which stated the country's nuclear power is irreversible. This comes ahead of President Yoon's trip the US next week.
• In the equity space, the lead for the Kospi is negative today in terms of US/EU moves, although tech (SOX, MSCI IT) didn't underperform broader indices. To recap, the Kospi fell 0.46% yesterday.