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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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1 Month USD/KRW Gains Amid Weaker CNH & JPY Levels, Equity Pullback
1 month USD/KRW spent most the post Asia close tracking higher. The pair finished the NY session close to 1307, the first gain for the pair in 5 sessions (+0.71%). June 2 highs were close to 1312, while the 50-day MA is around 1321. Yesterday's low in the pair was just under 1295. Note onshore spot ended yesterday at 1303.85.
- The 1 month NDF is back above its simple 100-day MA (near 1301), with higher USD/CNH and USD/JPY levels likely weighing on the won through Wednesday's NY session.
- The local data calendar remains empty today. The BOK will release its quarterly monetary credit policy report at 12pm local time. This follows a non-rate decision board meeting.
- In the tech equity space, we saw a pullback, with the MSCI Tech down 1.63%, losing ground for the 3rd straight session in US trade. The SOX fell a more modest 0.32%. Broader equity indices were also slightly weaker in in EU/US trade.
- To recap, the Kospi was flat yesterday, but the Kosdaq rose 1.2%. Offshore investors added $125.2mn to local shares, the first meaningful net inflow this week.
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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.