Free Trial

1 Month USD/KRW Back Sub 20-day EMA, Onshore Markets Return Today

KRW

1 month USD/KRW finished up NY Thursday trade near 1363.3, a won gain of a little over 0.30%. The pair couldn't get sub the 1361 level, but we are back below the 20-day EMA (1366). The 50-day sits just under 1361. Note onshore markets return today after yesterday's Memorial Day holiday. Onshore spot ended Wednesday's session just under 1373.

  • The data calendar is relatively quiet over the coming week, with April goods balance/current account figures, along with the May unemployment rate due next Tuesday. Then on Friday we have May trade price figures.
  • Locally today, Samsung Electronics workers will strike for the first time. We should also find out more about reported oil/gas deposits off South Korea's coast (per BBG).
  • The equity backdrop from offshore markets has mostly stayed positive, although the SOX and MSCI IT index gave back some gains through Thursday trade.
  • To recap, the Kospi ended Wednesday's session just under 2700, with offshore investors purchasing just under $630mn of local equities so far this week.

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.