Free Trial

1 Month USD/KRW Dips Supported, First 10-days Of August Trade Data On Tap

KRW

1 month USD/KRW finished the NY session just above 1316, against post US CPI lows sub 1305. This keeps the pair within recent ranges, albeit with USD dips being supported. Recent highs in the pair rest around the 1320 level. For onshore spot, we finished up at 1315.85 yesterday.

  • Early June highs in the 1 month NDF rest around ~1325/26. THe 200-day EMA rests close to 1300.50 on the downside.
  • There are a number of domestic focus points today. The first 10-days of August trade data are due (out around 9am local time, 01:00 BST). The Finance Ministry also releases its monthly economic assessment report.
  • Later on, the BoK releases monthly money supply data, which is unlikely to be a market mover.
  • In the equity space, the lead from US tech related indices is mixed, the SOX down 0.37%, while the MSCI IT rose a modest 0.16%. To recap, the Kospi fell 0.14% yesterday, while offshore investors sold -$250.8mn of local shares, bringing week to date inflows back to +$189.1mn.

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.