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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.
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Free AccessMNI Credit Weekly: Le Vendredi Noir
MNI: Canada Apr-Sept Budget Deficit Widens On Spending
1 Month USD/KRW Breaks Above 1300, Before Retracing
1 month USD/KRW spent most of the post Asia close on the front foot, breaking above 1300 late in NY trade. We finished the Thursday session in NY just under 1297, 0.82% weaker in won terms. The 1 month NDF has weakened for the past 5 sessions straight. Spot USD/KRW finished up at 1294.85 in onshore trade on Thursday.
- USD/KRW 1 month was likely aided off its highs as US equities ended the Thursday session on a positive footing. Tech related indices outperformed at the margin, with the MSCI IT up 0.72% (its first gain in 5 sessions), while the SOX rose 0.57%.
- To recap, the Kospi outperformed yesterday, rising 0.43%, but the index remains sub 2600. Offshore investors were still net sellers of local equities, with week to date outflows now just over $1bn.
- Today the BoK releases monthly data on residents FX deposits. We may also see headlines from President Yoon's trip to Vietnam.
- MSCI also kept South Korea as part of its emerging market index. This follows MSCI stating South Korea needs to address 9 market accessibility issues before hoping to achieve developed market status.
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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.